Medicare Advantage Plans 2022

Medicare Advantage Plans 2022

Medicare Advantage is a bundled Medicare plan offered by private insurance companies. Medicare Advantage completely replaces your Original Medicare Part A and Part B benefits. Medicare Advantage plans must at a minimum provide the same benefits included in Original Medicare Part A and Part B. However, most Medicare Advantage plans also provide additional supplemental benefits. Supplemental benefits are things such as fitness memberships, transportation, over-the-counter healthcare product debit cards, meal plans, emergency alert systems, dental, vision, hearing, and much more. Most Medicare Advantage plans also include Part D prescription drug coverage.

There are several types of Medicare Advantage plans available, some of the most common and popular include:

  • Preferred Provider Organization (PPO) plans
  • Health Maintenance Organization (HMO) plans
  • Health Maintenance Organization, Point-Of-Service Plans (HMO-POS)
  • Dual Eligible Special Needs Plans (D-SNP) for those eligible for both Medicaid and Medicare

If you enroll in a Medicare Advantage plan, you will have to continue paying your Original Medicare Part B premiums and Part A (if applicable) premiums. Medicare Advantage plans are affordable, and in some areas, $0 premium plans are available. The Medicare Advantage plans with lower premiums typically have higher out-of-pocket costs (copays, coinsurance, and deductibles) and fewer supplemental benefits. Higher premium plans typically have lower out-of-pocket costs (copays, coinsurance, and deductibles) and more supplemental benefits.

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