What is a Medicare Advantage?
Medicare Advantage, also known as Medicare Part C, is a plan provided by private insurance companies with the help from subsidies provided by the government so that the insurance company can design network based plans at a various premiums.
These plans are normally designed with copays and coinsurance throughout the plans as a form of cost share that the client would assume when joining one of these plans. Most plans may offer additional benefits at no additional cost to you.
So let's take a closer look at Medicare Advantage Plans.
Medicare Advantage Upside:
It’s convenient to have a single plan for everything
The plan covers everything traditional Medicare covers (hospital insurance and medical insurance) as well as emergency and urgent care
Most plans also include prescription drug coverage
Your eligibility isn’t affected by health or financial status
Many plans may cover additional benefits.
Premiums vary
Medicare Advantage Down Side:
- You’re restricted to certain doctors in your network (unless it’s an emergency)
- Plan premiums can change from year to year
- Difficult to switch to Medigap later on
- Plan benefits can change from year to year
- You’re subject to high deductibles and co-pays that tend to range from $3,400-$6,700
What kind of plans can I choose from?
See Which Plans Are In Your Area Today
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Phone: (616) 344-0155 Email: ryan@schanerfinancial.com
We do not offer every plan available in your area. Any information we provide is limited to those plans we do offer in your area. Please contact Medicare.gov or 1-800 MEDICARE to get information on all of your options.