Majority of the people get their health coverage through the Original Medicare, but about one-third of the beneficiaries have now opted for Medicare Advantage plan. Medicare Advantage plan (also known as Medicare private health plan) are achieved through the federal government where a fixed amount is paid to every enrollee to provide Medicare benefits.
There are several Medicare Advantage plans and the most common are:
-Preferred Provider Organizations (PPOs)
-Health Maintenance Organizations (HMOs)
-Private Fee-For-Service (PFFS)
Other Medicare Advantage Plans include Provider Sponsored Organizations (PSOs), Special Needs Plans (SNPs), and Medicare Medical Savings Accounts (MSA).
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About Medicare Advantage Plan
Every enrollee in Medicare Advantage Plan must pay their monthly Part A or Part B premiums depending on what they have subscribed. Also, each Medicare Advantage Plan must provide all Part B and A services offered by Original Medicare through either different costs, rules and restrictions that affect when and how clients receive care according to their will.
It is also expected that all Medicare Advantage plans to include a limit on out-of-pocket expenses for Part A and B to the clients. For instance, the out-of-pocket maximum for HMO plans this year is $6,850. The plans are also not allowed to include cost-sharing (such as Coinsurances and copays) that are higher than it would be under Original Medicare for certain services such as dialysis and chemotherapy but for other services they can have a higher cost sharing.
Medicare Advantage Plan also provides additional benefits not provided by Original Medicare such as dental care and routine vision. The various plans also have their rules and what can be covered for the patient. However, the plans can be of the same type, but if they are offered by different companies, then they will tend to have different rules. The clients are therefore advised to check a plan keenly whenever they want to know how a program works.
Medicare Advantage Plan charges a premium in addition to Medicare Part B premium. A fixed premium called copayment is also charged whenever a client receives a service. There even those plans that charge a percentage of the cost of the service known as coinsurance for all or some of the services.
Rules for Joining Medicare Advantage Plan:
-You must be living in the plan’s service area
-You must have Medicare Parts A and part B
-You must not be having End-Stage Renal Disease (ESRD)
Medicare Advantage Plan is provided through commercial insurance services, and one of such firm is InnovaCare. The company is headed by executives such as Rick Shinto, M.D., MBA & President and Chief Executive Officer of InnovaCare. Penelope Kokkinides, Chief Administrative Officer of the company.
InnovaCare Health is also recognized for being a leading provider of healthcare services in North America through Medicare Advantage and Provider Networks which are mainly committed to quality and sustainable management of health. The primary mission of InnovaCare Health is to redefine healthcare through meeting challenges of healthcare environment today by mainly focusing on patients.
Learn more about InnovaCare Health: http://innovacarehealth.com/