Medicare Advantage plans offer specific services and benefits that may not be available through Medicare Parts A and B. These plans are offered through private insurance companies and can be customized for your own specific needs and requirements.
Overall, there are different types of Medicare Advantage plans:
- Preferred Provider Organizations (PPOs),
- Health Maintenance Organizations (HMOs),
- Private Fee-for-Service Plans (PFFS),
- Special Needs Plans (SNP),
- Medicare Medical Savings Account Plans (MSA), and
- HMO Point of Service Plans (HMOPOS).
Differences
One of the key difference between these benefits is where you may be able to get the covered treatment. For example, a Preferred Provider Organization or PPO offers what is commonly referred to as a network of coverage. In short, this means that, as long as you stay within this network, there is a network of preferred facilities and physicians that are pre-approved to offer the benefits for your plan without additional charged or unexpected costs from covered procedures and examinations.
The Medicare Advantage Plan you choose can also make a difference in your out-of-pocket costs, and have may have a number of different rules for how you get certain services and whether you need a referral to see a specialist.
Health Maintenance Organizations or HMOs also include a network of pre-approved service providers that will be covered within your plan. In contrast, HMOs require that you elect a primary care physician who will acts as your personal doctor, but also as your health care coordinator. If you ever needed to see a specialty doctor who is not included in your HMO plan network, your primary care physician could offer you a referral if they deemed it necessary.
Each of the Medicare Advantage plans, including Private Fee-for-Service Plans, Special Needs Plans, Medicare Medical Savings Account Plans, and HMO Point of Service Plans have specific needs. By understanding these differences and how they may affect you, you can make a much more informed decision about what plan will serve you best.
You can find additional information about Medicare and the different Medicare Advantage Plan options at Medicare.gov.
Next Steps…
For more information contact us today and ask for your free no-obligation quote.We will help you explore a variety of insurance options and discounts. Call us at +1 800 645 0297 or email us. Alternatively, have an insurance-licensed Sunvalley Insurance representative contact you.