You have the option to combine your Medicare insurance with one of the other Medicare Advantage Plans that are managed by private insurance companies and are accepted by Medicare. Medicare and these other Advantage Plans coexist. Many people choose these plans to receive extra insurance that Medicare does not cover, such as for specific medications, eyeglasses, or medical services and treatments. Each plan has different fees, however many Medicare Advantage plans really have no premium at all (yes, they are free).

You are forced to use their network of doctors and hospitals with certain of the plans, such as the HMO (Health Maintenance Organization) and PPO (Preferred Provider Organization). There are situations when the premiums or services are less expensive than the Original Medicare Plan, both with and without the Medigap Policy included. The advantage plans offered do contain hospital (Part A) and medical (Part B) coverage, and they are obligated to pay for the services required to meet your medical needs. When compared to Medicare Prescription Drug choices, the best medicare supplement plans occasionally provide less expensive medications. Some plans use networks and referrals to coordinate your treatment, which can help you save money and manage your health care better. You don’t need to acquire a Medigap policy, which is another fantastic benefit of these plans.

The following are your available plans:

Health Maintenance Organization (HMO) Preferred Provider Organization (PPO)

Private Fee-for-Service (PFFS) Medicare Medical Savings Account (MSA)

Medicare Special Needs Plans

Which Plan Should You Pick?

An outline of each strategy is provided below:

HMO: This type of health insurance provides Part A and Part B coverage; some plans also include extras that cover lengthy hospital stays. Except in cases of emergency, you are only required to use their network of medical professionals as your Primary Care Physician (PCP). This option’s costs are occasionally less expensive than those of the Original Medicare Plan.

PPO – With this plan, you have the choice to use their network of doctors for lower co-payments. Using doctors who are not in your network will result in additional fees.

PFFS – With this plan, you have more freedom because you can visit any medical facility that accepts your insurance and has doctors that are in-network with Medicare. You are obligated to cover a certain portion of medical expenses when they arise. Sometimes there are added advantages.

MSA – You are obliged to enrol in a high-deductible plan, which does not provide coverage until the yearly deductible is satisfied. Medicare makes a deposit into the health care savings account. The majority of Medicare Advantage plans, including those with no monthly cost, are MSA plans.

Medicare Special Needs Plan – This unique type of plan provides Part A and Part B coverage to those who require specialised treatment for chronic conditions. Those who are in nursing homes, qualify for Medicaid or Medicare, or have chronic or disabling diseases are all eligible.