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Top 10 Reasons to Switch to Medicare Advantage Insurance

Choosing the right medical insurance is a big deal and you need to be sure of what’s best. Here are 10 reasons to switch to Medicare Advantage now.

Does it make sense to switch your health plan to Medicare Advantage?

It’s no secret that healthcare costs are putting a financial strain on many families. Health care spending has ballooned to $10,739 per person in 2017. By 2026, it’s

While there is a safety net in place in the form of the Medicare program, the government only covers about 65% of medical costs for seniors.

Want to know more about the basics of Medicare? Read on to learn and find out why switching to Medicare Advantage is a good move for your health.

What is Medicare Advantage?

Medicare is a pretty complex health plan with a lot of moving parts. You need to understand how each part of Medicare works in order to know how you’re covered.

Let’s start with Medicare Part A. Part is basically hospital insurance. You’re covered by Medicare when you meet your deductible. You may have to pay a percentage of your hospital stay as well.

This is the OG Medicare. Part A doesn’t come with a premium to pay. If you’ve worked for 10 years and paid into Medicare during that time you are eligible for Part A. You will have to wait until you’re 65 to qualify, though.

Part B is like regular health insurance that covers your doctor’s visits. Outpatient care, screenings, and x-rays are things that Part B will cover. If you have Part B, you’re still responsible to pay a percentage of the doctor’s visits along with a monthly premium.

Part C is Medicare Advantage. This is private health insurance that covers everything in Parts A and B, along with some additional benefits.

If you didn’t notice anything about prescription drug coverage in these plans, there’s a reason for that. Prescription drugs are covered by Medicare Part D.

Medigap Insurance is also offered by private health insurance companies to cover the gaps that aren’t covered by the other Medicare plans.

This is a basic overview of the different parts of Medicare insurance and how you’re covered. For a more detailed look, look no further than this write up about getting a Medicare supplemental insurance policy.

Top 10 Reasons to Switch to Medicare Advantage

As you can see, Medicare can be complex. With so many parts, it can be hard to know which plan you should get.

That’s why you need to learn more about Medicare Advantage. Check out these 10 reasons to switch.

  1. More Health Care Competition

Since Medicare Advantage is offered by private insurance companies, there is more competition for your business. This increase in competition can lead to better plans and lower rates for you.

  1. Better Provider Network

Medicare Advantage companies are regional companies. They are likely to be focused on your local area. What that means for you is that you may have a wider variety of providers to choose from in your network.

  1. Help With Everyday Living

Medicare Advantage will be able to cover help for daily tasks like cooking and cleaning. That will give seniors a higher sense of independence.

This coverage isn’t active yet, but it is expected to be soon.

  1. Home and Lifestyle Support

New in 2019, Medicare Advantage plans can cover transportation to doctor’s appointments and meal delivery. They may soon cover things you need at home like wheelchair ramps and shower support bars.

  1. Try Before You Buy

You can try a Medicare Advantage plan for three months and switch to another plan. There’s no risk to try it and if it doesn’t meet your needs, switch plans.

  1. Out-of-Pocket Max

The Medicare health plans have a maximum amount you’ll pay for health care costs. Once you reach your out of pocket max, health care costs for services covered by insurance will be covered 100%.

  1. Additional Benefits

Medicare Parts A and B cover very specific issues. With Medicare Advantage, you get Parts A and B as well as additional benefits. These benefits will vary by provider, so it’s worth shopping around.

  1. May Have a Lower Premium

Wouldn’t it be nice to have a $0 premium? That is a possibility with some providers.

Some will offer $0 premium insurance or low premium plans.

  1. Eliminate Confusion

The Medicare world can be incredibly confusing for seniors to navigate. It can be very hard to understand which Medicare plan covers what expense.

You also have to know what percentage of care Medicare will cover. Medicare Advantage is one plan that covers you, and in some cases with additional benefits.

  1. Peace of Mind

Nothing can replace the feeling of peace of mind. There are many people who lie awake at night wondering how they’re going to pay for any upcoming doctor’s bills. You don’t have to be one of them.

Unless you’re one of the richest people in the world, this is important.

How to Qualify to Medicare Advantage

Now that you understand why you want to switch to Medicare Advantage, how do you sign up?

You have to qualify first. To sign up, you already have to be enrolled in Medicare Parts A and B.

You also cannot have or be diagnosed with end-stage renal disease. In this instance, you may be able to qualify for a special needs plan that will cover you.

Finally, you have to sign up with a Medicare Advantage provider that is accepting new enrollments and serves your local area.

Healthcare Doesn’t Have to Destroy Your Finances

Healthcare costs today have skyrocketed to the point where it’s no longer feasible to pay out of pocket for medical expenses.

As we get older, we’re going to need to depend on reliable health insurance. That’s why Medicare Advantage can be a great benefit for seniors.

If you’re a long way off from turning 65, take a look at these habits that you’ll want to avoid that speed up the aging process.