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.