Best Medicare Advantage Plans 2021
The best Medicare Advantage plans for 2021 are an alternative plan to the Original Medicare, which provides for the services offered under Medicare Part A and Part B in addition to other benefits that meet the needs of a senior. It is offered by private insurance companies like United Healthcare, Cigna, Anthem, AARP, and Blue Cross Blue Shield among many others that are approved by Medicare
Medicare plans are structured in such a way to meet the needs of the person, based on the healthcare coverage that they intend to take. Therefore, we would say that there is no best specific plan. What matters is the extent to which the client is satisfied.
Among the factors that make the plan outstanding is the availability of doctors, network coverage and also the reputation of the insurance company interms of offering excellent customer service to its members.
Therefore, before choosing the best a Medicare plan to match your needs, always do thorough research and make an informed decision.
In case you have already enrolled for the plan, but along the way you feel that you are not sufficiently covered, Medicare Advantage has options of switching to the plan that you feel supported with.
Understanding Medicare Advantage Plans
One thing every person should note is that Medicare does not advocate for any Medicare Plan to term itself as the Best Medicare Advantage plan. This is because the plan has many options that are intended to meet the needs of their customers, and their main aim is to offer the best services. That’s why there is a need to research and make up your mind on what works for you.
How Medicare Advantage is different from Medigap
As you may have heard about these plans, Advantage plans act as a replacement to the Original Medicare but now being offered by a private insurance company. On the other hand, Medigap are supplement plans that cover those gaps. One is not allowed to pick both choices because they overlap each other and Medicare does not approve for such.
The premiums in Advantage plans are also lower than those in Medigap plans. However, Advantage plans are administered by the federal government and must abide with specific rules, unlike Medigap plans that are fully regulated by the insurance company offering the plan.
Compare Medicare Advantage 2021
What to Look for When Comparing Medicare Advantage Plans
Before signing up for Medicare Advantage plans, there are a number of factors that you need to consider to get a smooth flow of your healthcare support.
To start with, you need to ensure that your doctors are on the network coverage, and they are within your reach. There are two main options for this plan, mainly HMO and PPO plans. If you sign up for the HMO plans, ensure that your doctor is within the network coverage to avoid costs later. However, for the PPO options, you will be allowed to be attended by the doctors who are outside your network coverage, though at an additional cost.
There is also the need to evaluate the Out of Pocket costs, which generally the maximum limit is $6,700. But these are dependent on the coverage and the insurance company you choose to work with. It’s important therefore to settle for the OOP that you fell it’s not straining you.
Administration of the drug coverage is also another point to take note of. In most of the Advantage plans, there is inbuilt drug coverage, but if you need extra coverage, then you can sign up for a separate Medicare Part D drug plan. Check on your drug costs and decide on the formulary that fits you best.
Whenever you are looking for a service, you also need to weigh the extra benefits that the plan is offering. In this instance, some of the Advantage plans offer benefits such as the gym membership like the Silver Sneakers, dental checkups, and general practitioner checkups, among others. But do not compromise your healthcare needs for the benefits.
The rating is also an integral part. This is because, if a plan has a 5-star rating, then it proves that the provider is offering the best contrary to that one that has a 3-star rating.
Frequently Asked Questions
Which insurance companies offer Medicare Advantage plans?
Most of the major carriers that provide for Supplement plans also offer Medicare Advantage plans. Among them are United Healthcare, Cigna, Aetna, Humana and Blue Cross Blue shield. But it’s important to note that the plans are offered depending on the country and its network coverage
Is Medicare Advantage plans a good deal?
Close to one-third of the Medicare Beneficiaries have signed for Medicare Advantage plans. This is because of the low premium and the out of pocket expenses that are sufficiently managed. This makes it a good deal to those seniors who have experience in using the plan.
What is better: Medigap or Medicare Advantage plans?
One of the things to note is that the Medicare Advantage plan replaces Original Medicare and its main difference is the cost-sharing which makes it a good deal. Madigan is a supplemental plan that has its good side too. Therefore, it solely depends on the coverage and the budget that a person has to consider a plan better.
Do you pay Part B premium with Medicare Advantage?
Yes, Medicare Advantage does not exempt you from paying Medicare Part B premiums.
Do you have a deductible with Medicare Advantage plans?
To some extent, yes, but it is important to get advice from your Boomer benefits agent to help you understand how deductibles are paid as you choose the plan that suits you.
Some plans may have no deductible for Part A or B but do have a deductible for Part D. The Part
What is the Average Cost of the Best Medicare Advantage Plans?
The cost varies depending on the coverage plan that you choose. Some go for as little as $0 apart from Part B premium while others can go to as high as $300 per month.
The eligibility age is 65 years, and one can sign up during the Initial Enrollment Period, which talks place three months before your 65th birthday and ends three months later.
If you miss this window, then you can wait for the official Annual Enrolment period which takes place from October 7th to December 15th, but you will be subjected to late enrolment penalties. The plan will also take effect from January 1st of the following year.
Should you want to switch back to Original Medicare, then you need to inform the company of your intentions so that you can start the process.
When enrolling for Medicare Advantage plans, you can ask a Boomer benefit agent to support you to avoid confusion. However, we are also on the forefront to advice you on this plan as you make the critical decision for the coming year.
Finally, our word of advice; keep learning, keep researching and save for tomorrow. Your healthcare needs cannot be equated to any pleasure. It forms the basis for your energized body.