Medicare Advantage Plans 2020
Seniors have some great options to save money on their healthcare for the coming year. One of the ones worth looking at is Medicare Advantage. These are powerful plans that cover so many healthcare expenses, and seniors that sign up for Medicare Advantage plans in 2020 will have very few out-of-pocket healthcare costs left to pay.
The Medicare Advantage Plans Offer Variety
There isn’t just one, standard Medicare Advantage plan to sign up for. You actually have a range of them to choose from, and you can probably find one that fits you well, if you do some looking. Let’s look at a few of them that may be available to you in your area and that could save you some money.
The first one we want to cover is the basic plan. Here is what it takes care of for you:
Emergency medical services
Urgently needed care
Medicare Part A
Medicare Part B
All of this is included in the most basic form of Medicare Advantage, but it’s not your only option. The other plans we will show you all have this same coverage, but they build on it to add more.
The Part D Medicare Advantage plan will also provide you with coverage for Medicare Part D. That’s a standalone plan, but it is included in some Advantage plans, and they will be clearly labeled with its name to tell you that’s what they are offering. Part D is for prescription drug costs, and it can take care of many of them for you. The Part D plans all vary from one provider to the next, so be sure you know exactly what you are getting if you sign up for an Advantage plan with this included.
You could also get an Advantage plan that will cover you for a lot of your checkups. This may cover you for an annual checkup for general wellness as well as for one with your optometrist and a checkup with your hearing specialist. Included in this coverage plan is usually cover for prescription items like hearing aids or eyeglasses.
These are your typical Advantage plans, and you may find others as well, but any of them that you sign up for will have the basic coverage that takes care of emergency and urgently needed care, as well as the entirety of Medicare parts A and B. That is all guaranteed by Medicare itself, so you can count on it being there in the plan.
Advantage Plans Are Limited by Network
The network that an insurance provider uses determines where their coverage is valid. You can’t take your Medicare Advantage plans and expect your coverage to be valid at every medical facility. You can only go to those clinics, hospitals and doctors offices that are on your insurance provider’s network and receive full coverage there. You could go outside the network for your care, but you definitely won’t receive full coverage.
This is why you need to be careful about the Medicare Advantage plans 2020 has to offer. Some of them are severely limited due to their provider’s small network. Others have an extensive network that stretches across most of the United States. You should look into the network of the provider before you sign up for their plan. You want to be sure you will be covered in your local area.
You do have some options that can help you get coverage in more places, though. The PPO option enables you to receive partial coverage from your provider and plan, even when you are not on the network. You get full coverage on the network, though, with a PPO.
The HMO option is cheaper but covers you less. It will only cover you on the network, but it offers no coverage outside the network. You will want to look at how an insurer’s network affects your local area before you decide whether you get a PPO or HMO Advantage plan. These plans will be clearly labelled as one or the other, so there will be no confusion as to what you are getting, but you should know the difference in how they treat your network cover. There will definitely be times where it is more economical to go with the PPO option, even though it costs more upfront.
Top Advantage Plan Providers
The providers that sell Medicare Advantage plans are a varied bunch. There are major providers with extensive networks and lots of different options to choose from. Then there are local providers with more restricted networks that only extend within their state, but they may have more competitive pricing than the bigger companies.
We are going to look at a few of the major providers that sell Advantage plans and what they have to offer you.
AARP- This insurer has a senior focus but sells plans to people of every age. They are one of the larger insurers out there, which means that their network coverage is practically peerless.
Mutual of Omaha- With this provider, you get a range of plans to pick from and a company with a great reputation for customer care. They are also one of the larger companies, so their network is extensive.
Aetna- Yet another insurer with a large network for you to benefit from, Aetna is also one of the leading insurance carriers when it comes to modernizing care and convenience.
Blue Cross Blue Shield- With BCBS as your provider, you can enjoy low prices and an extensive network. They go by many different names, since they are made up of a number of smaller companies.
These are some of the top choices for Medicare Advantage plans in 2020, and there are many other insurers as well that sell the same kinds of plans. You can compare them all here on our website and determine which one will be right for you. If you need any help, be sure to get in contact with us and talk to our insurance experts about finding the best plan.