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The Perks of Medicare Advantage PPO Plans in 2020
Seniors have access to more high-quality Medicare Advantage and Part D prescription drug plans in 2020 than they ever have before. These plans offer more coverage than Original Medicare and are a popular choice with a high satisfaction rate among beneficiaries, reports the Centers for Medicare & Medicaid Services. Here’s how to decide what plan is right for you:
Wider Scope of Coverage Than Original Medicare
Medicare Parts A and B, often referred to as Original Medicare, can leave some pretty significant gaps in your medical care coverage. In general, Part A covers inpatient services, such as care in a hospital or skilled nursing facility, hospice care, and home health care. Part B generally covers outpatient services, such as clinical research, ambulance services, durable medical equipment and mental health care. But Original Medicare does not cover long-term care (also called custodial care), most dental work, eye exams related to prescribing glasses, dentures, cosmetic surgery, hearing aids and exams, routine foot care and acupuncture. Luckily Medicare Advantage plans (Part C) exist and offer a wider scope of coverage. Offered from private, Medicare-approved insurance companies, these plans often include some or all of the above-listed services, as well as prescription drugs.
Limits on Out Of Pocket Spending
Extra costs are a large concern for most nearing retirement. Things like fixed salaries and fear of draining your hard-earned retirement can make picking a health plan an anxiety-riddled venture for most. When it comes to Medicare Advantage plans, you might be thinking, “Sure, I’ll be covered for any health-related issues that come up, but I’ll pay more for that coverage.” Rest assured, that’s not always the case. In fact, as of 2020, premium costs for Medicare Advantage plans are expected to decrease by 23 percent under President Donald Trump’s administration, according to the Centers for Medicare & Medicaid Services. Whereas with Original Medicare, not only are there monthly premiums attached, but added expenses such as deductibles, coinsurance, and copayments, as well as prescription drug costs, can all be tacked on.
Another stark advantage for picking a Medicare Advantage plan is there are limits placed on out-of-pocket spending. So, once you hit the maximum spending set for your plan for the year, you won’t have to pay another cent for covered benefits until your coverage resets.
What About Referrals?
Most of us build a certain rapport with our doctors. So, to find out that because we are forced to switch medical coverage, we may no longer be able to continue to see them is a significant blow. Maybe the biggest benefit of choosing Medicare Advantage is your ability to add supplemental coverage, and if you select one of Anthem’s Medicare Advantage PPO plans, you gain the flexibility to work with any doctor or specialist, in or out of network with no referrals necessary. That means continuity of care and a reassurance that you can choose who to see and when in order to receive the right care.
Get Started With a Medicare Advantage Plan
There’s no denying choosing the right medical coverage for yourself or a loved one is a complex process with various details to sift through. But the process can be made easier by enlisting researching, comparing plans, and preparing for the future.
