Medicare Advantage plans include more services than Medicare Part A.
Medical insurance at any age can be confusing, so it is with Medicare Advantage.
The types of Medicare plans and what they offer are no different.
It is difficult to distinguish between Part A, Part B, Part D, and Advantage plans.
It is literally an alphabet soup.
With so many options and so much at stake it can make your head spin.
According to a recent AARP article titled “Medicare Advantage Premiums to Decrease in 2020,” Medicare Advantage plans include more than either the Part A, Part B, or Part D coverage.
Medicare Part A includes hospice, hospital care, and some rehabilitative and nursing home service.
Medicare Part B provides payment support for visits to physicians and other outpatient services.
These outpatient services include scans, lab testing, and other diagnostic service.
Medicare Advantage plans cover what Part A and Part B cover.
If you need prescription drug coverage, some Advantage plans provide this as well.
Some of these plans also provide dental, hearing, and vision coverage.
These private plans may even include more supplemental services such as transportation, in-home meals, adult daycare, and qualifying home improvements.
If you are a senior in need a Medicare, you may consider opting for one of these private insurance plans.
In fact, nearly one-third enrolled in Medicare participate, utilize an Advantage plan.
If you are concerned about cost, be encouraged.
The average monthly premiums are expected to decrease by 14 percent in 2020.
Exact prices will vary by state and by the plan you select.
Start researching now to prepare for your retirement years.
While you are at it, realize that Medicare of any stripe does not provide for long-term care.
For that protection you need to take time and seriously consider what your strategy will be should you need long-term care coverage.
Will you pay out of pocket (self insure) or transfer the risk you cannot afford for premium payments you can afford?
In the end, everyone needs a game plan because the risk is high (70% once your reach age 65) and the potential costs are catastrophic.
Reference: AARP (September 24, 2019) “Medicare Advantage Premiums to Decrease in 2020”