Medicare offers a range of plans for seniors who need coverage in different ways. 2020 Medicare Advantage is able to cover the cost of a variety of medical expenses, and we’ll cover what those are as well as show you how you can save money with these plans.
The name implies that this plan can give you more coverage than others or do something for you that other healthcare plans may not be able to do. That’s absolutely correct, as Advantage plans are designed to offer powerful coverage in a way that is specialized and personalized to fit the needs of different kinds of people.
The 2020 Medicare Advantage plans all come with the same basic coverage, and Medicare has created and designed that coverage, even though it is not the one selling the plans. Medicare simply oversees Advantage plans and ensure they are being sold and marketed properly. The insurance companies that sell these plans are allowed to add some coverage on top of the basic plans and create a lineup that offers what their customers might want.
Advantage plans all come with the same core, basic coverage that includes cover for the entirety of Medicare Part A and Medicare Part B. That covers a wealth of inpatient and outpatient expenses for you, and it means that you won’t need the Original Medicare plan to cover you. Advantage plans take the place of Original Medicare, filling in for its coverage and offering more cover.
The basic also all include cover for emergency medical services, which can refer to lifesaving treatment, ER visits, ambulance care and more. They also cover urgently needed care, which can include tests, medications and surgery.
Every Advantage plan, no matter who sells it or how much they charge for it, will include all of this coverage we just talked about. The insurance companies may be able to make their version of Medicare Advantage look quite different from the competition’s, but the core coverage is shared by all of them. It is guaranteed for anyone who signs up for one of these plans, and even if other aspects of the plan change, that core coverage remains.
The Additional coverage typically includes some of a few different items. The insurers can offer one or several of these as part of their Advantage plans. What a lot of them include is the Medicare Part D plan. This will cover a bunch of prescription drug costs. It may not cover relevant prescription drugs, though, so individual seniors will want to examine the Part D plan that is included before they agree to it to ensure that it applies to them. Part D is the kind of plan that can be purchased on its own, so if someone signs up for an Advantage plan that doesn’t include Part D coverage, they can always get Part D separately.
Another healthcare expenses that is commonly included in Medicare Advantage plans is for routine visits to the dentist or optometrist. Your checkups for your eyes, ears or teeth can all be covered, as can general wellness checkups. This will also include coverage for prescription items, such as eyeglasses or hearing aids, among others.
Insurance companies typically have a lineup of Advantage plans for their customers to choose from. They may sell a basic Advantage plan that comes with just the core coverage, along with a Part D Advantage plan and one that includes everything we just listed. This lets them appeal to large number of seniors and meet their needs.
Because there are many different Advantage plans and they are sold by providers at different prices, it is important that seniors compare the plans. The more they compare, the better their chances are that they will save some money. The truth is that some of the plans are overpriced and will cost seniors more than they need to pay. Seniors can benefit by looking for a low-cost version of the plan they want, still getting the same coverage but paying a lower price.
Our site is made to help seniors do that, as we offer a quote sourcing tool. This means that you can search for the plan you want and then get a list of quotes for that plan. This will show you what the various insurers in your area charge for that particular plan. You can see at a glance who has the best price and who is overcharging for their coverage. This is a great way to save money and ensure you are getting a decent deal on your Advantage plan and healthcare coverage.
This is a free resource that anyone can use, and you can use it as often as you like, too. You can search for quotes on our site while you are trying to decide on a plan and provider. You can even use our site after you have chosen a plan, as you may want to keep up with the prices and keep your eyes open for a better deal than what you currently have. After all, the prices and coverage on these plans are constantly changing, so it makes sense to try to find a better plan after a while.
You won’t find 2020 Medicare Advantage being offered by the Medicare organization. These plans are sold exclusively by private insurance companies. These may be the same companies that sell you other types of insurance, and there are a few of them we want to talk about here to give you an idea of what your options are. Please understand that there are tons more insurers out there than what we will cover here. You can find a list of them and their prices by using our search tool to get quotes for the plan you want. You’ll get relevant, accurate quotes that help you to make an informed decision.
Humana – (NYSE: HUM)
Humana has its headquarters in Louisville, Kentucky and boasts millions of US customers, making them one of the biggest insurers on the planet. What does that mean for the average senior? It means that their prices tend to be stable and not fluctuate drastically. It also means that they can afford to offer some great member benefits and competitive pricing at times.
AARP– (NYSE: AARP)
You can get your Advantage plan through AARP, but you should know that it is United Healthcare that will be overseeing the plan and setting prices and coverage for you. That’s because United Healthcare is now AARP’s parent company, but that does not detract from the value that AARP brings to the table. This is a long-standing and respected company that centers on senior care and senior services, so they have a lot to offer, even if their prices are not the most competitive.
Aetna – (NYSE: AET)
Aetna sells a bunch of different kinds of insurance plans, so seniors can get all the coverage they need for various aspects of their life in one place and save money while considering their insurance plans. Aetna is at the forefront of the fight for healthcare reform, so they are constantly pushing new customer-centered initiatives that will benefit those that sign up with their plans.
You can also try Medicare Supplements, if Medicare Advantage isn’t quite right for you. Supplements offer more targeted coverage that is less comprehensive than Advantage plans, in most cases. There is a wide range of 2020 Medicare Supplements, so most seniors will be able to find one that works very well for them and covers them exactly like they need to be covered.
Medicare Supplements cover different expenses from Advantage plans. They can cover seniors for deductibles for both parts of Medicare (A and B) copayments for those parts, coinsurance costs for Medicare and nursing care, excess charges, foreign transport costs for medical emergencies and the blood you use each year. The Medicare Supplement plans 2020 are designed to be subscribed to right alongside a valid Original Medicare plan, offering complementary coverage without ever overlapping. Supplement plans will not work with Advantage plans, so if you need one of them, then you need to choose only one.
We offer price comparison services for Supplement plans as well, so feel free to use our site to find the best rates on the Supplement plan you need. The prices do change, so check back frequently to ensure you have accurate and up-to-date information.
Back to Advantage plans, though, let’s talk about whether you need one or not. They really aren’t for everyone, but those seniors who do benefit from them often save hundreds of dollars a year on their healthcare costs. Some save even more than that, and your savings and your need for these plans will depend on your situation. Look at how much you are paying each month and each year for healthcare. Look at how much you are paying for medical insurance. Can these costs be decreased if you were to sign up for an Advantage plan? That’s the true test of whether you need one or not.
In order to tell if you need a Medicare Advantage plan, you will have to assess your medical expenses and your medical needs. You know better than anyone what your healthcare situation is like and how often you visit the hospital or your doctor’s office. You know what kind of expenses are being paid out of pocket and what is covered by your current insurance plan. You know if your employer or union insurance is offering enough coverage for you or if you need something to replace them. Advantage plans can serve as great replacements for whatever kind of healthcare coverage you have right now, but they will overlap with them most of the time, so be prepared to choose between one or the other.
Medicare Advantage is primarily available for seniors. Most people need to be at least 65 years old to sign up for one of these plans, so keep that in mind if you are considering purchasing an Advantage plan. The same age restriction applies to all Medicare plans, and there will be exceptions to that at times, but the rule is that you generally have to wait until you are 65 to sign up for them.
You also have to sign up at the right time. Open Enrollment is the signup window, and it runs from October 15-December 7 most years. You can sign up during that period in 2019 to get a plan that will start covering you in 2020. That coverage will begin on January 1st and run through the entire year, but only if you sign up in time. Once you sign up, you may not be able to change plans, so make sure that the plan you choose is acceptable to you and suitable for your needs.
You can always change your plan next year, during the Open Enrollment window for that year, and you can use our site to compare the prices and ensure you are saving money and getting a good plan. Use our site as often as necessary until you find the plan you like and the one that will save you the most money. You can also talk to us and get one-on-one advice about the plan top pick and to discuss what your options are. We will help you sort through the choices to find what works best for your situation.
A lot of seniors will save money with 2020 Medicare Advantage, and you could be among them. You simply have to take the time to choose a plan that suits your situation. Our free resources here will empower you to make an informed choice, and it is our hope that you will save money on healthcare for the coming year once you sign up for the right Medicare Advantage plan. There are many different kinds available, so finding one that fits your needs should not be a problem with our help.