Medicare advantage plans are hard to understand. Just as any other insurance plan offered by an insurance company, there are different plans to choose from. The differences in these plans will affect the care and services that are offered to members. It’s very important for people to understand the different types of Medicare advantage plans that are available.
As people think about their Medicare needs, they should consider what they need. There are some people that are not happy with the benefits that original Medicare offers. Because they aren’t happy they often begin thinking of joining one of many Medicare advantage plans. There are a lot of benefits that come with these plans but not everyone will benefit from them.
The Major Step
Those that want to change their medical insurance from original Medicare to a Medicare advantage plan should take the time to understand the differences in these plans. Not all Medicare advantage plans are the same. Many of the benefits that are offered in these plans are only available in certain areas. Not only are the benefits different, there are different types of plans available.
HMO plans- In some areas the only Medicare advantage plans available are HMO plans. These plans will only allow its members to go to doctors and other providers in their network. The only time an exception is made is in an emergency situation. Most HMO plans will also require its members to get a referral to see a specialist.
PPO plans- There are other regions that allow people to choose a PPO plan. Medicare advantage plans that are PPO allow their members to save money by using preferred providers and hospitals but they can still use out of network hospitals and providers.
PFFS plans- PFFS plans are also known as Private Fee for Service plans. These plans are the closest to original Medicare that Medicare advantage plans have. This plan will allow their members to use any doctor, provider or hospital they want. The plan will decide how much they will pay and how much their members must pay once care is received.
SNP- Special Needs Plans are plans that are for those that need specialized health care. It’s normally used by those that have Medicare and Medicaid, have a specific and chronic medical condition or live in a long term care facility.
HMO POS plans- These Medicare advantage plans allow their members to use services that are normally out of the network. These services often come with a higher copayment or coinsurance.
MSA plans- A Medical Savings Account plan is one that is very similar to a health savings account. These plans allow members to have a high deductible plan and a savings account. There is money deposited into the savings account by Medicare and that money can be used to pay for different health care costs.
With so many types of plans to choose from, it’s not surprising that people get confused.
Medicare advantage plans are different than original Medicare. It’s something that can be hard to understand. For those that really need these plans, they will work through the confusion by asking specific questions and finding a company they like. Medicare advantage plans have many benefits for those that choose the right one.