How do Medicare Advantage Plans Work?

Once an individual turns 65 years of age, he or she can apply for and receive Medicare insurance. This government-backed program significantly lowers medical costs, providing access to hospital insurance via Plan A coverage and access to medical insurance via Plan B coverage. Plan D is also available and covers medication. However, as great as Medicare is, it's often not enough for many senior citizens as there are gaps in coverage as well as other limitations. Thankfully, those who need additional health insurance can purchase a Medicare Advantage Plan, also known as Medicare C, from a Medicare-approved private company such as Premium Choice.

Medicare Advantage plans do not replace Original Medicare plans; however, most of the medical and hospital insurance covered by Medicare Plans A and B are instead covered by the Advantage Plan. Medicare Advantage, like Original Medicare, can also cover the cost of needed medications. One can sign up for an Advantage Plan three years before turning 65 up to three months afterward. After this point, anyone who wants to sign up for a Medicare Advantage plan, switch to a different Medicare Advantage plan, or switch from Medicare Advantage to Original Medicare would need to do so during the open enrollment period, which runs from January 1 to March 31 each year. There are no penalties for canceling or changing coverage during this time period.

Medicare Advantage plans offer more and better coverage than Original Medicare on various levels. With Original Medicare, a person usually has to pay 20% of the Medicare-approved amount after meeting his or her deductible. However, Medicare Advantage can offer lower out-of-pocket expenses for certain services and may even cover the cost of Plan B Original Medicare insurance. What's more, Medicare Advantage covers vision, hearing, and dental services, all important forms of healthcare that Original Medicare does not cover. Given the fact that up to 68% of seniors suffer from dental problems, up to 17% of seniors have vision problems and up to 9% of seniors have hearing problems, coverage for these health issues can be a lifesaver for tens of millions of people by improving quality of life and enabling individuals to receive needed care and treatment while problems are still small and manageable.

The cost of Medicare Advantage varies depending on the form of coverage one chooses and the deductible a person opts for when signing up for care. Furthermore, some plans are limited to certain areas, so one's geographic location can determine which plans he or she is able to purchase. However, companies such as Premium Choice offer multiple forms of coverage to make it easy for anyone to find the plan that best meets his or her needs and budget. Plans are easy to understand; furthermore, they are required to cover everything that Original Medicare covers. While it can take time to go over the options, consider the pros and cons of a particular plan, and sign up for Medicare Advantage, doing so can be an ideal way to keep medical costs low while gaining access to top-tier healthcare that meets one's exact needs.