What ways can Medicare Advantage Plans save you money?

Plan types under Medicare Advantage

You can get your Medicare Part A and Part B benefits through a private insurance company that is approved by Medicare through the Medicare Advantage (Medicare Part C) program. These benefits are administered by Medicare Advantage plans, which frequently include additional benefits like routine dental care.

Prescription drug coverage is something that sets Medicare Advantage plans apart from Original Medicare (Parts A and B). Prescription drugs are typically only covered by Original Medicare in specific circumstances, like in a clinic or hospital.

What ways could a Medicare Advantage plan help you save money?

First and foremost, it is essential to comprehend that there are a number of distinct types of Medicare Advantage plans and that prices can differ even among plans of the same type.

If you are able to locate a plan in your area that provides you with the additional benefits you require, this could help you save money on a Medicare Advantage plan. For instance:

• Are you wearing glasses? Routine eye care may be covered by some plans.

• Do you require dental coverage? Routine dental care may be covered by some plans.

• Do you enjoy working out at the gym? Memberships to a gym or fitness programs may be included in some plans.

Plans offered by health maintenance organizations (HMOs) under Medicare

There may be some Medicare Advantage plans with lower costs than others.The monthly premiums for Medicare Advantage Health Maintenance Organization (HMO) plans can be as low as zero dollars.(Premiums for other Medicare Advantage plans may also be zero.)

Most of the time, HMOs require you to see doctors in the plan's network.The HMOs sign contracts with network service providers to charge a set price for their services.HMOs may be able to offer lower-priced plans to Medicare beneficiaries by managing costs in these ways.

In general, Medicare Advantage HMO plans also:

• Require you to select a primary care physician

• Require you to obtain a referral if you wish to see a specialist

• Require you to obtain prior authorization prior to receiving certain services