What is Medicare Advantage?
Medicare Advantage is commonly referred to as Medicare Part C. It is a type of Medicare plan that provides normal Medicare coverage and other benefits. You can buy the plan from private insurance companies [1] that have a contract with Medicare.
Medicare Advantage Plans can be divided into several groups. When choosing an Advantage Plan, it would help to choose the one that suits your needs.
Health Maintenance Organization: According to the Health Maintenance Organization (HMO), only facilities and doctors that are part of the network can offer services. You need out-of-network referrals to get services from specialists.
The Preferred Provider Organization (PPO) charges different rates for hospitals, providers, and doctors. The rates usually depend on if they are part of the network. The rates for any services gotten from out-of-network are higher.
Private Fee-for-Service (PFFS): With the PFFS plan, you can get services from any provider. However, they must first approve the terms and conditions of your PFFS plan.
Special Needs Plans (SNPs): Only people who need long-term medical attention can access Special Needs Plans.
Medicare savings account (MSA): Medicare savings account plans involve a combination of a high deductible health plan and a medical savings account. Medicare sends money to the medical savings account for medical services. Only people who are under Medicare Part A [2] and Part B can qualify for Medicare Advantage.