Available Medicare Plans
There are a few different types of Medicare Advantage plans. These include Health Maintenance Organizations (HMOs), Preferred Provider Organizations (PPOs), Private Fee-for-Service (PFFS), Medicare Savings Account (MSA) and Special Needs Plans (SNPs). Each of these plan types has its advantages. Knowing your healthcare needs and budget will help you compare them.
Which Medicare Plans Do You Need?
Medicare Advantage plans are like Original Medicare in that they cover the same items, tests and services covered under Medicare Part A and Part B. Medicare Advantage plans are offered by private health insurance companies, and they can offer benefit packages that fill some of the gaps in Medicare.
Do you routinely visit the dentist, wear glasses or contact lenses, or use a hearing aid? None of these healthcare services are covered under Original Medicare, so you need a supplemental insurance plan to cover those health areas. Fortunately, you can find a Medicare Advantage plan that offers these benefits as an additional package; you need only pay an additional premium and you will have the convenience of receiving your full healthcare coverage from one insurance provider.
Medicare Part D plans are a separate offering from Original Medicare. Part B covers only limited outpatient prescription medications, leaving the majority of Medicare beneficiaries having to pay full price for their medications.
Do you regularly take prescription medications? You need to find either a Medicare Advantage plan with prescription drug coverage—a Medicare Advantage Prescription Drug (MAPD) plan—or sign up for a Medicare Part D prescription drug plan. Plans will vary in the prescription drugs they offer, so select a plan that has the coverage you need.
Comparing Medicare Plans
First, you want to look at the available coverage. Does the Medicare Advantage plan offer the additional benefits packages you are looking for? Does the Medicare Part D plan cover the prescription medications you are currently taking? These are the most important questions to answer when you are looking for Medicare coverage.
Next, you can narrow down the available plans with good coverage by comparing their prices. Prescription drug plans will sort drugs into tiers of pricing. Each plan’s copayments will differ, as will its deductible, premium and coinsurance.
Still need help deciding which plan fits your needs best? Seek help from Medicare experts. Carolina Senior Benefits is ready to assist you in finding the best available Medicare plan in 2022.