This type of insurance covers Original Medicare and more. There are two types of Medicare Advantage plans: Health Maintenance Organization (HMO) and Preferred Provider Organization (PPO). Both types usually offer Medicare Prescription Drug Plans (Medicare Part D) as a benefit. When Part C and Part D are offered, they are referred to as a Medicare Advantage Prescription Drug Plan (MAPD). MAPD plans have low monthly premiums and low copays, with additional benefits at no additional costs. Medicare Advantage plans usually offer benefits above Original Medicare like dental coverage, eyewear, hearing aid discounts and more.
Medicare Advantage Health Maintenance Organization (HMO)
Some people are comfortable having one doctor to coordinate their care with specialists and other health care providers. If that’s you, this is an option you may want to consider. With this type of plan, you must choose a primary care physician (PCP) to coordinate your medical needs with in- network providers. With most Medicare HMOs you must use doctors, specialists, or hospitals in the plan’s network in order to receive coverage, except in a few cases, like medical emergencies.
Medicare Advantage Preferred Provider Organization (PPO)
What if you want the savings of a provider network and the flexibility to see doctors outside the network? A Medicare Advantage PPO plan allows you to have them. It lets you save with low out-of-pocket costs when you use in-network providers, and have the option to use health care providers out-of-network. In addition, these types of plans have annual limits on out-of-pocket costs. After you reach the limit, these plans pay 100% of covered services for the rest of the year.