Medicare Advantage Plans are health plan options that are
part of the Medicare program. If you join one of these plans, you generally
get all your Medicare-covered health care through that plan. This coverage
can include prescription drug coverage. Medicare Advantage Plans include:
- Medicare Health Maintenance Organization (HMOs)
- Preferred Provider Organizations (PPO)
- Private Fee-for-Service Plans
- Medicare Special Needs Plans
When you join a Medicare Advantage Plan, you use the health insurance card
that you get from the plan for your health care. In most of these plans, generally
there are extra benefits and lower copayments than in the Original Medicare
Plan. However, you may have to see doctors that belong to the plan or go to
certain hospitals to get services.
To join a Medicare Advantage Plan, you must have Medicare Part A and Part B. You
will have to pay your monthly Medicare Part B premium to Medicare. In addition, you
might have to pay a monthly premium to your Medicare Advantage Plan for the extra
benefits that they offer.
If you join a Medicare Advantage Plan, your Medigap policy won’t work. This means
it won’t pay any deductibles, copayments, or other cost-sharing under your Medicare
Health Plan. Therefore, you may want to drop your Medigap policy if you join a Medicare
Advantage Plan. However, you have a legal right to keep the Medigap policy.
To compare Medicare Advantage Plans, go to the Medicare Options Compare.