Medicare Advantage And Its Growing Popularity

​The Medicare Advantage Plan is continuously growing, and it now has a large role in the Medicare program. Last year, over 31% of US Medicare beneficiaries enrolled in Medicare Advantage Plans. It grew in popularity, and now, Medical Advantage is considered by some companies to be the catalyst in the Medicare Program evolution over the past few years. But what is Medicare Advantage?

What Is Medicare Advantage?
Medicare Advantage or “Medicare Part C” is a Medicare Plan provided by private companies. It covers both Hospital Insurance (Part A) and Medical Insurance (Part B). and usually includes other benefits. Some of the included services are prescription drug coverage, vision and dental coverage, and sometimes gym coverage. 

There are different types of Medicare Advantage Plans, and here are some common types of it:

• Health Maintenance Organization Plans (HMO) - In this type of plan, you will get your medical services only to the plan’s network’s professionals and services.
• Preferred Provider Organization Plans (PPO) - You pay less if you use the provided medical professionals, hospitals, and services from the plan’s network. 
• Private Fee-for-Service Plans (PFFS) - With this plan, you may see any medical professionals and hospitals as long as they accept the plan’s payment terms. This plan decides how much you will pay for medical professionals and hospitals and its cost when you get care.
• Special Needs Plans (SNPs) - This limits the membership only to specific diseases or characteristics. It focuses on a particular group of people to serve with their needs.

Why Is It So Popular?
More than half of the Medicare Advantage enrollees pay no premium, and it is one of the main reasons it is so popular. It also has more benefits that aren’t covered by traditional Medicare, such as dental care, fitness benefits, and eye exams that are usually needed by beneficiaries. Besides, these plans can be customized to treat some specific conditions. 

Conclusion
Efficiency, flexibility, and cost are what people usually looked for, and with that, Medicare Advantage plays its role. Still, plans are changing and evolving as time passes; that’s why to make sure to understand what the program is before joining.

At The Medicare Space, we do our best to make sure that our clients are well-protected with affordable and comprehensive policies. We make sure to go the extra mile to help you with your needs. To learn more about how we can help you, please contact our agency at (866) 717-8683 or Click Here to request a free quote.