Pros and Cons of Medicare Advantage Plan

What are Medicare Advantage Plans?

Medicare Advantage plans are called "Part C" and sold by private insurance companies.  They combine original Medicare (Medicare Part A and Medicare Part B).  Also, many plans offer $0 premiums and also include prescription drug coverage (Part D).   Many plans also offer additional benefits such as vision, hearing and dental.

Pros of Medicare Advantage Plans

Compared to original Medicare, there may be advantages if you choose a Medicare Advantage plan.

• All In One

Original Medicare only offers two types of coverage: hospital insurance and medical insurance.  If you want additional coverage, you will need to purchase Medicare Part D for prescription drug coverage and Medicare supplement insurance for additional coverage.  However, with a Medicare Advantage plan, your coverage options are all included in one plan.

• Personalized Options

Medicare Advantage offers different plan types depending on your medical needs and financial situations.  For example, if you have a chronic health condition, an SNP Advantage plan can help with your medical costs. Or if you have Medicare and Medi-Cal, you can choose a SNP Advantage plan. If you prefer provider freedom, a PPO plan may be more of what you are looking for.  If you want extra services like dental, vision, or hearing, many Medicare Advantage plans include them.

• Cheaper Cost

Many Advantage plans have no premiums and offer low or no deductibles.  Another advantage of choosing Medicare Advantage is that most plans set limits on the maximum out-of-pocket costs you will pay during a plan year.  For example, in LA and OC, many plans offer the annual maximum out-of-pocket-expenses of about $1,000.

• Coordinated Healthcare

Many Medicare Advantage plans include coordinated medical care.  This means that your healthcare providers actively communicate to coordinate your care between different types of healthcare services and medical specialties. This ensures you have a healthcare team and helps avoid unnecessary expense and issues like medication interactions.

Cons of Medicare Advantage Plans