What Are the Types of Medicare Advantage Plans?

December 10, 2024•3 min read

Are you exploring your options for Medicare coverage? Understanding the different types of Medicare Advantage Plans can help you make an informed decision. At Bourgeois Insurance Agency, LLC, located in Thibodaux, Louisiana, we can assist you. Call us at (985) 803-8999 for personalized guidance.

Understanding Medicare Advantage Plans

Medicare Advantage Plans, also known as Medicare Part C, are an alternative to Original Medicare. These plans are offered by private companies approved by Medicare. They combine Medicare Part A and Part B, and often include additional benefits like prescription drug coverage.

Types of Medicare Advantage Plans

There are several types of Medicare Advantage Plans available. Each plan has unique features and benefits:

HMO Plans: Health Maintenance Organization plans require you to use doctors and other care providers within the plan's network. You will need a primary care provider and a referral to see a specialist.
PPO Plans: Preferred Provider Organization plans offer more flexibility. You can see out-of-network providers, but it may cost more.
PFFS Plans: Private Fee-for-Service plans allow you to see any provider that accepts Medicare. The plan decides how much it will pay and what you will pay for services.
MSA Plans: Medical Savings Account plans combine a high-deductible health plan with a bank account. Medicare deposits money into the account, which you can use to pay for healthcare services.
SNPs: Special Needs Plans are designed for people with specific diseases or characteristics. These plans tailor benefits, provider choices, and drug formularies to best meet the needs of the groups they serve.

Comparing Medicare Advantage Plans

When you compare Medicare Advantage Plans, consider the following:

Network restrictions: Does the plan require you to use a specific network of doctors and hospitals?
Cost: What are the premiums, deductibles, and copayments for each plan?
Drug coverage: Does the plan include prescription drug coverage?
Additional benefits: Do plans offer extra benefits like vision, hearing, or dental coverage?

Original Medicare vs. Medicare Advantage Plans

Original Medicare includes Part A (hospital insurance) and Part B (medical insurance). Medicare Advantage Plans, or Part C, combine these and may offer additional benefits. Here's how they compare:

Coverage: Original Medicare covers hospital and medical services. Medicare Advantage Plans may offer extra services like vision and dental.
Cost: You pay a premium for Part B and might pay a premium for the Medicare Advantage Plan. Plans may have different out-of-pocket costs.
Flexibility: Original Medicare allows you to visit any doctor or hospital that accepts Medicare. Medicare Advantage Plans may have network restrictions.

Enrolling in a Medicare Advantage Plan

To enroll in a Medicare Advantage Plan, you must first be enrolled in Medicare Part A and Part B. Consider these steps:

Evaluate your healthcare needs and budget.
Compare plans available in your area.
Check if your preferred doctors are in the plan's network.
Ensure the plan covers your medications.

Medicare Supplement Insurance

Medicare Supplement Insurance, or Medigap, can help cover costs not covered by Original Medicare, such as copayments and deductibles. However, Medigap cannot be used with Medicare Advantage Plans.

Plans Are Available in Thibodaux, Louisiana

At Bourgeois Insurance Agency, LLC, we offer a variety of Medicare Advantage Plans to meet your needs. Located in Thibodaux, Louisiana, our plans are designed to provide comprehensive coverage while keeping costs manageable.