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Medicare Advantage Plans 2021

There is a wide range of Medicare Advantage plans that you can buy from a private insurance company. Each plan gives the beneficiary more advantages than Original Medicare, including reduced costs. If you are looking to get the best health insurance plans tailored to your health needs, you should consider buying a Medicare Advantage Plan 2021.

What does Medicare Mean?

Before examining Medicare Advantage and the various plans, we need a proper understanding of what Medicare entails. Medicare is health insurance made primarily available to the aging American populace. Started in 1965, it is open to citizens of ages 65 and older. However, the benefits extend to younger people with a disability or certain forms of clinical ailments (End-stage renal disease and Amyotrophic lateral sclerosis). An example of private insurance companies that offer Medicare Advantage are Blue Cross, Anthem, and Scan.

There are four parts to Medicare. Part A concerns inpatient and hospital services. Part B deals with professionally handled medication and outpatient services. Part C is Medicare Advantage, and Part D is the prescription drug plan. Together, Parts A and B are known as Original Medicare.

What is Medicare Advantage?

Medicare Advantage Plans 2021

MA, short for Medicare Advantage, is the third subdivision of Medicare. This segment gives health insurance coverage to both inpatients and outpatients. Once a person signs up for an MA plan, they become qualified for a variety of benefits that surpass that of the Original Medicare. While there are different Medicare Advantage Plans one can select from, most possess the same central features.

A majority of Medicare Advantage Plans provide dental, hospice, and annual physical test coverage. MA plans also include coverage for X-rays, diagnostic and preventive tests, portable medical equipment, emergency transport costs, and so on.

Medicare Advantage Plans in 2021

With many Medicare Advantage Plans available to choose from and the numerous insurance companies offering various packages, making the right choice can be a daunting task. The key to making the best decision is to take stock of your expenses and tailor to your peculiar needs. With this guide, you can choose between the six main Medicare Advantage Plans below:

Special Needs Plan (SNP)

SNP is cost-friendly for patients with long term severe ailments, terminal or chronic conditions.

Private-Fee-For-Service (PFFS)

This plan is supple. It allows patients to access any medical facility or doctor who accepts the plan.

Health Maintenance Organization (HMO)

Except for emergencies and specific tests that may require a specialists’ recommendation, this plan utilizes a network of health centers and medical practitioners who are readily available to the insured.

Health Maintenance Organization Point of Service

This plan is a type of Health Maintenance Organization Plan that allows access with hospitals and health practitioners outside the HMO network but at a higher cost.

Preferred Provider Organization (PPO)

In this plan, prices vary within and outside the network of medical facilities and practitioners. It is advisable to stay within the system as it saves costs.  

Medical Savings Account (MSA)

This incorporates a savings account. Health care may be paid for using Medicare deposits.

How to Get Started with Medicare Advantage

While there are a lot of insurers offering Medicare Advantage Plans, we will discuss just four of them.

AARP

With more than 40 million members, AARP is a non-profit association under United Healthcare. AARP  focuses on a variety of social and economic issues, including health. Chapters of the association can be found across the country.

Aetna

A subsidiary of CVS Health, Aetna is a health-centered company that sells a wide range of medical products as well as health insurance.

Cigna

Cigna is another health company that provides a range of health-based insurance to the insured. These include disability, dental and accident insurance.

Humana

Humana is one of the largest insurance companies in the United States and across the world. They have a retail group that provides Medicare and health care products.

By considering your financial and peculiar health needs, you can choose a plan that suits you best. You can enroll for a Medicare Advantage Plan between October 15 and 7th of December. When you do this, your coverage begins the following January.

If you have any questions or help to decide the best Medicare Advantage Plan for you or enrolling in 2021, feel free to contact us. We would love to help you out.

There are several Medicare Advantage plans offered by several private insurers or insurance companies. These Medicare Advantage plans help to save costs while offering more than a senior citizen may get with Original Medicare. Medicare Advantage 2020 helps you to choose the best plans as well as the best possible insurer which suits your medical needs and convenience.

What is Medicare?

Medicare is a National Health Insurance scheme which provides health insurance for American people of ages 65 and older. However, as determined by the Social Security Administration, the insurance program may extend to young people living with a disability and people with amyotrophic lateral sclerosis (ALS) or end-stage renal disease. Started in 1965 in the United States, it is currently managed by the Centers for Medicare and Medicaid Services (CMS). 

 According to the 2019 Medicare Trustee Report, over 59.9 million Americans; more than 52 million being senior citizens over 65 years and about 8 million younger adults were provided with Medicare health insurance in 2018.

There are four parts to Medicare. Part A covers hospital (inpatients) and hospice services, part B covers outpatient services and most professionally administered drugs while part D covers most self-administered prescription drugs.

What is Medicare Advantage?

Medicare Advantage is also known as Part C. This is a type of Medicare health which offers inpatient hospital insurance (Part A), outpatient Medical Insurance (Part B) as well as other additional benefits. This means that as you join a MA plan, all the benefits of Original Medicare and more are accrued to you. There are several Medicare Advantage or Part C plans. These plans are provided by private insurance companies approved by Medicare. 

The most common advantage of 2020 Medicare Advantage is that while you have to join a separate insurance coverage to cater for issues outside Part A and part B Medicare, Medicare Advantage, known as an “all-in-one” alternative to Original Medicare, includes plans that cover most of your medical health needs, thereby saving you the overall cost. According to research, MA plans successfully negotiates lower prices for healthcare services than traditional medicine therefore, you save more on medical equipment and laboratory services if you have a MA plan.

Most Medicare Advantage cover an annual physical, dental coverage, care for patients in admission, hospice and nursing services for outpatients, going to the ER, surgical center and laboratory, X-rays and diagnostic tests, some preventative medical services (different from annual physical exams), and some durable medical equipment and supplies. Examples of other additional services include transport to medical-service appointments, coverage of over the counter drugs, adult daycare, and assistance for daily living. Some such additional non-medical services are tailored to beneficiaries with particular chronic conditions.

These are the core coverage and benefits of Medicare Advantage regardless of the plan you choose or the private insurance company which provides you the advantage. In most cases, this includes the self-administered prescription drugs (part D) coverage. For public appeal, the private insurer may have added benefits to their plans such as fitness membership or have a specific lineup of plans which may best suit a demographic. Generally speaking, MA plans offer a personalized plan structure, they’re also cost-effective with coordinated medical care.

Comparing Medicare Advantage Plans

There are different Medicare Advantage plans possible for a senior to sign up for. There are even more private insurance companies offering these plans. For these reasons, it is important to make the necessary comparison when you decide to get a MA plan. After deciding that you need a MA plan, you have to do an assessment of your medical needs and expenses and then carefully select a plan that fits perfectly as well as a company that suits you the best.

Using the quote sourcing tool feature of our site, you can search the kind of plan you want and find a list of quotes for the plans. The feature also shows you the various private insurers in your areas that offer the plan as well as how much they charge. On a screen, you get to see whose charge is decent or who is overcharging you.

There are six major Medicare Advantage Plans to choose from based on convenience, budget, and medical needs. These plans include:

Health Maintenance Organization (HMO): this plan uses in-network facilities and doctors. Members can use hospitals and doctors in the plan’s network except in cases of emergency care. However, seeing a specialist and some tests may require a referral from a primary health physician

Preferred Provider Organization (PPO): The cost varies between in-network and out of network doctors or hospitals. While a member may use doctors and facilities outside the network, it is generally cheaper when the member uses an in-network facility or doctor.

Special Needs Plan or (SNP): This plan helps when the member has a long-term medical cost for a chronic health condition, impairment, or terminal illness.

Private Fee-for-Service (PFFS): this is a special payment plan which allows flexibility, allowing the member to visit any doctor, hospital, or facility that accepts the plan.

Medical Savings Account (MSA): This plan includes a medical savings bank account and a highly deductible health plan. The deposit by Medicare can be used to pay for health services

Health Maintenance Organization Point of Service: these are HMO plans that allow the member to get treatment or services with out-of-network facilities or doctors. However, there is a higher copay or insurance cost.

How to Sign Up for Medicare Advantage

Several insurance companies provide a citizen with these plans. Our site may help you to decide which is best for you. While there are a ton of these insurers, we talk about a few here

  1. Humana –

Humana has its headquarters in Louisville, Kentucky and as of 2014 boasts over 13 million US subscribers, making them one of the biggest insurers on the planet and the third-largest in the US. The company operates its business through the following segments: Retail, Group, and Healthcare Services. The Retail segment consists of Medicare benefits, marketed to individuals or directly via group accounts, as well as Individual Commercial fully-insured medical and specialty health insurance benefits, including dental, vision, and other supplemental health and financial protection products.

  1. AARP–

Another provider of an Advantage plan is through AARP, although United Healthcare is AARP’s parent company. AARP is a nonprofit, nonpartisan association with a membership of over 40 million. AARP provides information, education, research, advocacy, and community services through a nationwide network of local chapters and experienced volunteers. It focuses on consumer issues, economic security, work, health, and independent living issues, and engages in legislative, judicial, and consumer advocacy in these areas.

  1. Aetna –

Aetna Inc. is an American managed health care company that sells traditional and consumer-directed health care insurance and related services, such as medical, pharmaceutical, dental, behavioral health, long-term care, and disability plans, primarily through employer-paid (fully or partly) insurance and benefit programs, and through Medicare. Since November 28, 2018, the company has been a subsidiary of CVS Health.

  1. Cigna –

Cigna is an American worldwide health services organization based in Connecticut and Pennsylvania. Its insurance subsidiaries are major providers of medical, dental, disability, life, and accident insurance and related products and services, the majority of which are offered through employers and other groups (e.g. governmental and non-governmental organizations, unions, and associations). Cigna offers Medicare and Medicaid products and health, life and accident insurance coverage primarily to individuals in the U.S. and selected international markets.

Usually, there is a signup window between October 15 and December 7. When you choose a plan during this open enrollment period, your coverage begins on the first of January and runs through the entire next year. Once you sign up, you may be unable to change plans until the next window for the upcoming year. You can use our site to find out the plan that saves you the most cost while providing the most value. You can also talk to us and get advice on the different plans and discuss your options. We are here to help you through your Medicare Advantage Plans and choices.