When spending on healthcare is concerned, no individual will prefer uncertainty. Those enrolled in traditional Medicare are sure to know that this plan does come with some gaps in its coverage. It is termed to be a safety net and never was intended to pay up 100% of all covered services. Hence, cost sharing with traditional Medicare tends to include co-insurance and co-pays as well as hospital deductibles exclusively for outpatient services. The latter is considered to be the major area of uncertainty. Moreover, 20% medical expenses are to be borne by Medicare beneficiaries.
Why enroll with Medicare Advantage Plans?
One of the major reasons to enroll with Advantage plans is its predictable cost. Having Advantage plan, the individual is able to know in advance what his healthcare related expenses will be for the services availed.
Pre-determined co-pays are found in Medicare Advantage Plans for the services covered. Even though, the plan design is found to vary from one Advantage plan to the other one, medical services having co-pays are likely to include the following:
- Urgent care visits
- Specialist consultation
- Primary care physician visits
- Ambulance service
- Few outpatient testing
- Emergency room visit
- Various types of Medicare covered services
By knowing in advance the approximate costs to be borne, is sure to help the individual to have peace of mind and take the right decisions in his/her favor. Besides this, by knowing individual responsibility, the best possible medical treatment can be sought.
Medicare Advantage Plans mean certainty
One major benefit offered by Advantage plan is an interesting feature which ensures the beneficiaries with annual maximum out of pocket amount. This feature is not offered by original Medicare. For outpatient services, the individual is responsible to bear 20% of all charges for availing covered services, irrespective of what it is.
Medicare Advantage Plans are known to provide dollar amount to indicate the maximum annual responsibility. Upon reaching the amount, through co-insurance, co-pays and deductibles, the person’s responsibility stops, as the plan start to pay up 100% of the covered expenses.
Often Advantage Plans are found to provide coverage for those extra services, which are otherwise not taken care of by Medicare like vision, dental, hearing and at times, health club memberships. Being on fixed income, such benefits can indeed make huge difference.