Choosing the best Medicare Advantage Plan for your needs can be challenging with all the different plan options available. Here is a detailed guide on how to pick the optimal Medicare Advantage Plan in 2023.
Medicare Advantage Plans are health insurance plans offered by private insurance companies that contract with Medicare to provide Medicare Part A and Part B benefits. Medicare Advantage Plans must cover all services that Original Medicare covers, but they can do so with different costs and restrictions. Let's take a closer look at what Medicare Advantage Plans must cover versus what they may optionally cover compared to Original Medicare.
Medicare provides essential health coverage for Americans 65 and older and some younger people with disabilities. But Medicare does not cover everything. There are some key exclusions and gaps in Medicare coverage that beneficiaries should be aware of.
Medicare Advantage Plans provide all of your Part A and Part B coverage and must follow Medicare's guidelines. However, Advantage Plans can have different out-of-pocket costs than Original Medicare. Let's look at the out-of-pocket expenses you may incur with Medicare Advantage Plans.
If you're enrolled in a Medicare Advantage Plan, you may be wondering if you have to pay a deductible like you do with Original Medicare. The answer depends on the specific plan you choose.
What is a Deductible?
A deductible is the amount you have to pay for health care services before your insurance plan begins to pay.