An Alternative
to Traditional Medicare

A Medicare Advantage plan may save you money

If you're willing to accept some limitations, these plans can be cheaper than Medicare with a Medicare Supplement.

 

Medicare Advantage Basics

Medicare Advantage (MA), also called Medicare Part C, is an alternative to Original Medicare. These plans are sold by private insurance companies, and they are often low or even $0 premium. These plans are not standardized by law, which means the benefits differ from company to company.

MA plans have lots of perks:

  • ✓ Drug coverage is often included in the plan
  • ✓ Additional benefits are sometimes wrapped in, like dental care, eyeglasses, and wellness programs
  • ✓ No underwriting, which means you can get the plan even if you have a health condition
  • ✓ Low or even $0 monthly premiums
  • ✓ Out-of-pocket limit offers protection

There are some sacrifices to be made with MA plans. One of the biggest concerns is the network. Networks are often limited, which might mean your favorite doctors would not be covered by your plan. This also poses a problem for those who like to travel, because they would not have coverage in another state.

Another concern is the extra costs that occur as you use the plan. These costs include copayments, coinsurance, and your deductible. While the plan is often very cheap to have, it’s not always cheap to use. However, there are different types of MA plans. Looking at what kinds of plans are offered can help you decide if an MA plan is right for your needs and budget.

Medicare Advantage Plan Types

MA plans come in many different shapes and sizes. The most common types we see are HMO, PPO, and MSAs. HMOs and PPOs are probably most similar to the pre-65 healthcare you’ve had in the past.

Medicare Advantage Plan Type Comparison
  HMO PPO MSA
Networks Not covered for out-of-network providers Pay more for out-of-network providers No networks
Cost Least expensive Middle of the road N/A

In general, PPOs are more flexible than HMOs, but you pay about double the monthly premium to carry a PPO.

MSAs are set up entirely differently than traditional Medicare Advantage plans (HMOs and PPOs), which makes it difficult to compare the cost.

An MSA is a high-deductible health plan plus a special medical savings account. You recieve a yearly deposit from Medicare that goes into your account. You get to decide what health services to spend it on. If you don’t spend that money, it rolls over to the next year. That money is always yours to keep.

Medicare MSA plans have lots of perks:

  • ✓ Financial growth opportunity – save or invest unused funds to grow your money over time
  • ✓ No networks – MSAs can be used anywhere Medicare is accepted
  • ✓ $0 monthly premium
  • ✓ Enhanced tax-free benefits
  • ✓ 100% coverage for Medicare-covered services when you reach your deductible

Is Medicare Advantage Right For You?

Medicare Advantage plans are a great alternative to Original Medicare, but they aren’t for everyone. We all have different health insurance preferences, and that’s why we get to show you many different options.

If you’re interested in considering a Medicare Advantage plan for yourself, fill out the short form on this page. We’ll contact you in order to provide a full health plan recommendation. Our services are always 100% free.

Get a Quote

Complete the fields below, and we'll run a personalized comparison from several insurance companies for you to choose from.

 
 
Need help with your insurance? Get a Quote Now