Are you considering a Medicare Advantage Plan? Here are 5 benefits of enrolling in a Medicare Advantage Plan. An Advantage Plan is not necessarily right for everyone, but if you are leaning toward a Medicare Advantage Plan, these 5 benefits may give you a compelling reason to go forward.
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5 Benefits of joining a Medicare Advantage Plan:
1. You will have predictable out-of-pocket costs in the form of deductibles, coinsurance and copayments. These cost sharing amounts are often much lower than the Part A and Part B deductible of original Medicare.
2. You will have a cap on your annual out-of-pocket costs. The maximum out-of-pocket costs (MOOP) can limit your liability. When you are enrolled in original Medicare, you will be subject to the Medicare Part A deductible and the Part B deductible as well as the 20% coinsurance for outpatient services.
3. You can receive your Medical and drug benefits from one plan. Medicare advantage Plans that include Part D prescription coverage often have low or $0 monthly premiums which can save you money over enrolling in a separate medical and Part D plan.
4. You may have access to extra benefits that are not included in original Medicare. These may range from, dental, vision, hearing and the Silver Sneakers Gym Membership program.
5. You will most likely have lower premiums than if you purchased a Medicare supplement. Many Medicare Advantage Plans do not have a monthly premium.
Watch: Medicare Advantage — 5 Things to Know About Advantage Plans Before You Enroll
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