In order to accurately compare Medicare Advantage Plans, Medicare recipients must first be able to define what Medicare Advantage Plans are. Medicare Advantage, also known as “Part C”, allows Medicare beneficiaries to receive Medicare Part A and Part B benefits, while also being able to provide additional coverage. This additional coverage may include:
- Dental, vision, and hearing services
- Gym memberships
- Nutrition programs
- Wellness programs
- Adult daycare
- Prescription drug coverage
Do keep in mind that this coverage varies by plan, but that’s why it’s important to compare all your options so you know which plan suits you best!
How Many Medicare Advantage Plans Are Available?
There are five different types of Medicare Advantage Plans:
- HMO, or Health Maintenance Organization
- PPO, or Preferred Provider Organization
- PFFS, or Private Fee-For-Service
- MSA, or Medical Savings Account
- SNP, or Special Needs Plan
Each of these plans have their own rules and regulations. For example, some may make you choose a primary care doctor, while also requiring that you receive care within their provider networks in order to receive coverage. Others may not be as limiting, and will provide some coverage regardless of where you receive your care. Not all plans will provide prescription drug coverage either, except for SNPs, which are required to.
Medicare Advantage Plans in Alabama and Florida
When choosing a Medicare Advantage plan in Alabama or Florida, there are many factors to consider. The Medicare Advantage plan may have a premium as low as $0, but the premium for Medicare Part B must still be paid.
In both Enterprise and Dothan, Alabama, they offer 16 Medicare Advantage Plans, including two SNPs. Premiums (not including SNPs) range from $0 to $71.00.
In Florida, there are approximately 4.6 million residents enrolled in Medicare coverage, and nearly one-half of those covered are enrolled in a Medicare Advantage Plan. In fact, in Pensacola, Florida, 38 different Medicare Advantage Plans are offered.
Pace, Florida in Santa Rosa County offers 16 Medicare Advantage plans. Tallahassee, Florida, located in Leon County, only has eight Medicare Advantage Plans to offer to those enrolled in Medicare. The costs for these plans will also vary.
And, again, it’s important to remember that the coverage offered by each plan will also vary. Of course, they all will provide the same coverage you get with Medicare Part A and B, which includes inpatient and outpatient coverage. However, the additional benefits will be different.
The Important Factors to Consider When Comparing Plans
The top five factors that most Medicare Advantage enrollees consider before choosing the best plan for them are:
- Coverage
- Cost
- Convenience
- Company
- Comfort
When considering coverage, the formulary list and in-network physicians/specialists must be checked before making a decision. Cost evaluation includes copays, deductibles, monthly premiums, and coverage limits. Convenience is basically defined as how difficult or easy it is to find a doctor or pharmacy you are allowed to use according to your plan. Many individuals enrolled in Medicare are influenced in picking plans depending on the company offering the coverage. Lastly, it is essential to ensure that the Medicare Advantage Plan chosen provides comfort to you, rather than creating difficulty when seeking medical treatment or advice.
At Sunsurance Agency, we take all these things into consideration to find you a Medicare Advantage Plan that works for you. All you have to do is give us a call today at 334-441-3905 or email us at edfoy@sunsuranceagency.com to get started.