Referral Bonus: Some plans provide referral bonuses. These bonuses are often linked to how many clients a provider has referred. Signing up for Medicare Advantage 2021 is easy.
Provider Networks: Some plans limit the number of providers in a network. In addition, some limit the number of physicians in a network. By limiting the number of providers in a network, you are limiting the choices you have.
Essential Health Benefits: All Medicare Advantage Plans must cover a basic set of medical services. These include: vision care, hearing care, prescription drugs, emergency services, emergency room services, rehabilitative and chronic disease services, maternity care, child health services, mental health and substance abuse services, lab services, pediatric services, and laboratory tests. You can add more services by purchasing a supplemental policy that pays the difference between the plan’s standard service charge and the services covered.
Flexibility To Pay At Time: Most plans allow their members to choose the plan that best suits their needs and finances. Some also allow members to buy into multiple plans at a time. Depending on the provider network, you may also be able to buy into multiple networks at once.
Adjustable Repayment: All plans contain this feature, but Medicare Advantage Plans is designed for long-term care, so they tend to have higher payments. Some plans cap payments. All plans with a cap on payment limit the amount of coverage you receive.
Optional Features: Some plans offer supplemental policies that give members a choice of supplemental insurance. Some optional supplemental policies include: life insurance, disability insurance, or a homeowner’s policy.
You might think that the plans, in general, cover similar things. That couldn’t be further from the truth. There are many variations in coverage and providers of each plan.
Choose The Right Provider: Most plans will require a preferred provider organization. If you purchase a preferred provider organization (PPO), your preferred provider network will be comprised of physicians and other healthcare providers who belong to the PPO. The providers are contracted to participate in the plan and agree to accept Medicare Advantage Plans.
Another option to consider is to join a Medicare Advantage organization as a referral provider. When the PPO takes the responsibility of your referrals, it allows you to qualify for a larger network, where you don’t have to accept the Medicare Advantage Plan you choose.
Your health plan doesn’t have to limit your options. Find the one that fits your budget and your needs.