Learn more about your Medicare options
Medicare Advantage Plans
Medicare Advantage, or Part C plans, are offered by private insurers and combine the benefits of Parts A and B.
One of the big “advantages” of a Medicare Advantage plan is that unlike Original Medicare, Advantage plans have a maximum out-of-pocket limit per plan year. What this means is that Advantage plans cap your share of healthcare costs. Once you meet your out-of-pocket maximum with a combination of deductible, copayments, and coinsurance, your Advantage plan will cover 100% of allowed healthcare costs within the remaining plan year. This helps you control and understand your financial risk.
Another feature of Advantage plans is that many come with valuable extras, like vision, dental, and hearing benefits that aren’t part of Original Medicare. Many Medicare Advantage plans also include Part D coverage. You also may get things like a fitness membership and transportation services to doctor’s appointments and pharmacies, to help you live your very best.
Understanding the Value of Medicare Advantage Plans
When it comes to understanding the value of Medicare Advantage plans, you may have questions. Wellcare is here to help from the start. Learn more about your Medicare options in this quick video.
Medicare Advantage Prescription Drug (MAPD) plans
Many Advantage plans also include prescription drug coverage. You may have heard these plans called All-in-One plans. Many people find MAPD plans convenient, as they bring together your Part C and Part D coverage into one plan.
Types of Medicare Advantage Plans
There are many types of Medicare Advantage plans, each with their own set of rules and costs. Here are a few common ones:
Health Maintenance Organization plans:
These plans generally require you to get most care and services from providers in the plan network. While you may have options to go out-of-network for some services, it will cost less if you get care from an in-network provider. You should expect to choose a Primary Care Provider, or PCP. Your PCP will likely need to write you a referral to see a specialist.
Preferred Provider Organization plans:
PPO plans also have a preferred network and costs are generally higher when you choose out-of-network providers. PPO plans do not require you to choose a PCP, and you probably won’t need a referral to see a specialist.
Dual Special Needs plans:
These Dual Special Needs plans are specially designed to coordinate your covered benefits and services if you are eligible for both Medicare and Medicaid.