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 low or zero premium. A Medicare Advantage is not to be mistaken for, nor confused with a "supplemental" or "medigap" plan, they are 2 completely different things. It is also against the law to have BOTH a supplemental and a MedAdvantage plan, you MUST choose one or the other. JBA Insurance walks you through the entire process to make absolutely certain you understand precisely how a MedAdvantage Plan works and how it may or may not be a good fit for your specific needs.

These plans are normally designed with copays, networks and coinsurance throughout the plans as a form of cost share that the client would assume when joining one of these plans. Most plans will include additional benefits at no additional cost to you such as dental, vision, and/or hearing benefits as an example.

So let's take a closer look at Medicare Avantage 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
  • Many plans also cover dental care, eyeglasses, and wellness programs
  • Most plans also include prescription drug coverage
  • Your eligibility isn’t affected by health or financial status
  • Premiums are low (sometimes as low as $0)
  • State programs may be available to help with cost of premiums for lower income individuals

Medicare Advantage Down Side:

  • You’re restricted to certain doctors in your network (unless it’s an emergency)
  • Plan premiums and co-pays 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-$7,500
  • The 80%/20% split DOES NOT EXIST with these plans. (That is ONLY SUPPLEMENTS)

See Which Plans Are In Your Area Today

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