There are many advantages of Medicare Advantage Plans, as compared to the traditional Medicare program. But before going into these benefits, it is important to understand that when compared to traditional Medicare, the difference is not only in terms of payments.
There are many patients who feel that their current Medicare supplement plan has not addressed their current needs. They do not understand why they are getting so little in the way of coverage. A comprehensive understanding of these plans is very important for patients.
There are some common and popular misconceptions about the program. Let’s examine the most common ones.
Beneficiaries who have less than five years of Medicare service time can no longer be enrolled in Medicare Advantage Plans. The current Act states that individuals who have less than five years of service are considered “covered” by Medicare. In order to remain a “covered” individual, beneficiaries must continue to receive benefits from Medicare. Simply, the Act does not allow a beneficiary to become a “covered” individual if she or he stops receiving benefits from Medicare. Compare Medicare Advantage plans for 2020 rates.
Beneficiaries who are elderly and qualify for Medicaid but were denied due to means test, are also ineligible for Medicare Advantage plans. Such individuals may qualify for Part D plans. Medicare Advantage Plans cannot deny individuals the ability to purchase Part D drugs.
Prescription drug coverage under Part D plans is often more expensive than the Part B plan. However, beneficiaries do not pay more out of pocket with Part D plans. Part D beneficiaries can see doctors without paying a co-payment, unlike Part B and Medicare Advantage Plans.
When it comes to effective preventive care, Medicare Advantage Plans is sometimes the better option. Medicare PartD provides prescription drug coverage but this is not enough. Part D covers general drugs and other generic medicines.
It is important to note that if a Medicare beneficiary has met the time requirements for Medicare Part B but is denied coverage for Part D, then Part B is still mandatory. Part B may still be covered depending on whether the Part B benefits are maintained or cancelled, and Part B can be purchased through Medicare Advantage Plans.
Some patients mistakenly believe that Medicare Advantage Plans does not offer the opportunity to take advantage of potential cost savings. In actuality, it is the Part D Plans that provide this opportunity. While the majority of these plans offer high quality and high volume prescriptions, there are some plans that do not offer the option.
Even so, when it comes to Part D, many of the Part D Plans offer prescription drug coverage to the beneficiaries. This gives patients a chance to save money on their prescription medications. It is important to understand that many plans do not offer savings on prescription drugs.
Additionally, many Part D Plans offer an option to purchase lower-priced generics. These generic medications can be very cost effective and may help to lower the monthly Part D premiums. For those with chronic medical conditions, generics can be the right choice.
These are just a few of the misconceptions associated with Medicare Advantage Plans. Understanding these misconceptions can help to ensure that your health coverage will meet your specific needs. By taking the time to learn more about these plans, you can make sure that you are getting the best possible coverage for your needs