Advantages offered by Medicare Advantage plans

September 1, 2021
Kevin Tharpe

As people in Georgia progress towards their later years, the issue of where they will get the benefits they currently earn through their employment inevitably arises. Chief among these benefits is healthcare, and the fear of not having adequate healthcare coverage may even prompt some to put off retirement (or return to the workforce after retiring).

Yet health insurance through Medicare is there for those over the age of 65. Recent years, however, have seen the rise to Medicare Advantage plans. These plans offer seniors the benefit of additional options when it comes to insurance coverage, yet few may truly understand exactly what differentiates Advantage plans from traditional Medicare.

What are Medicare Advantage plans?

According to the health insurance agency eHealth, Medicare Advantage plans are plans approved by Medicare administered through private insurance companies. These companies set the premiums one has to pay for coverage, which essentially replaces the premiums paid for Medicare Part A (for those who do not have a qualifying work history). Medicare Part B premiums remain in place even if one chooses a Medicare Advantage plan.

Medicare Advantage plan benefits

Medicare Advantage plans cover nearly all of the same services covered by traditional Medicare (with a few select exceptions, for which one would need to supplement their coverage with traditional Medicare). This prompts the question of what advantages do Medicare Advantage plans offer. Per the website eHealthMedicare.com, these include:

  • Medicare Advantage plans offer comprehensive coverage (alleviating the need to worry about securing Medicare Part A, B and D)
  • Additional benefits such as dental, vision and even potentially coverage for gym memberships
  • The potential for lower costs (due to lower premiums set for hospital coverage by private insurance providers)

Another benefit may be access to an HMO network. While traditional Medicare lets a recipient see anyone, coordination of care may be easier among network providers.

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Kevin Tharpe

With 25 years of experience, Kevin understands how estate planning, special needs planning, and government benefits programs work together. This is a crucial element of a thorough plan. He explains your eligibility for benefits programs and ensures that you do not make costly mistakes that may disqualify you or deplete your assets.

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