Medicare Advantage Plans Explained

Visit for more: https://medigapseminars.org/new-to-me... | Call us 800-847-9680 https://medigapseminars.org/contact-us/ Medicare Advantage Plans Explained Also see Medicare Advantage vs Medicare Supplement Plans    • Medicare Advantage vs Medicare Supplement ...   Medicare Advantage Plans Explained What is Medicare Advantage? If you’re researching Medicare and looking for a video to help you understand Medicare Advantage plans and if they are the right choice for you, this is the video you need to see. Stay tuned. Hi, I’m Matthew Claassen with Medigap Seminars Insurance Agency. We are an independent insurance broker helping people with their Medicare and retirement needs from Hawaii to Virginia and Alaska down to the Florida Keys. We represent our client’s best interest, not that of an insurance company, and our services are free to you the consumer. All you need to do, is ask. This video is different than other videos you may have seen on Medicare Advantage Plans. I am not going to simply describe a Medicare Advantage Plan. Rather, the intent of this video is to give you the information you need to decide for yourself if a Medicare Advantage plan is right for you. Check out our video on Medicare supplement plans and insurance companies:    • Medicare Supplement Plans  / Benefits & Hi...   Medicare Supplement Plan G    • Medicare Supplement Plan G vs F vs N   Medicare Supplement Plan N    • Medicare Supplement Plan N vs Plan G   If you want to limit you’re your financial risk, you can either purchase additional coverage via a Medicare supplement plan or replace your Original Medicare with a Privatized version of Medicare Part A and Part B managed by a private, for profit insurance company. That is a Medicare Advantage Plan. Now, there are many different types of Medicare Advantage plans. But literally 98% of all Medicare Advantage plans are constructed as either an HMO or a PPO. In this video we will just be discussing HMOs and PPOs and not other types of Medicare Advantage plans. To be clear, a Medicare Advantage Plan is not a Medicare supplement. It does not supplement your Original Medicare, it replaces it. You still must pay your Medicare Part B monthly premium to Medicare, but you are no longer using Original Medicare. You don’t use your red, white and blue Medicare card. The insurance company you choose for a Medicare Advantage plan will issue you their own insurance card for the plan you enrolled in. As you may know Original Medicare has a lot of copays and deductibles. Each Medicare Advantage Plan has its own copays and deductibles and by law must be designed as an Actuarial Equivalent to Original Medicare. Actuarial Equivalent. It’s an interesting term. What exactly does it mean? It means that the average person on any Medicare Advantage plan must have roughly the same annual out-of-pocket expense as they would have if they had simply kept their Original Medicare Part A and Part B and NOT added a Medicare supplement. Unlike a Medicare supplement, every Medicare Advantage plan is different. Each has different coverage, uses different doctors and hospitals and every Medicare Advantage plan can change its benefits and costs each calendar year. But, by law, they must remain an actuarial equivalent to Original Medicare. However, as I mentioned earlier, Medicare Advantage plans have maximum limit on a policy holder’s annual financial risk, also called your maximum out-of-pocket expense. https://www.kff.org/medicare/press-re... https://www.kff.org/medicare/issue-br... https://www.kff.org/health-reform/iss... https://www.kff.org/medicare/press-re... https://www.kff.org/health-reform/iss... https://www.kff.org/medicare/fact-she... https://themighty.com/2018/02/aetna-m... https://medigapseminars.org/ig-report... https://khn.org/news/when-medicare-ad... https://khn.org/news/proposed-medicar... https://oig.hhs.gov/oei/reports/oei-0... #MedicareAdvantagePlansExplained #MedicareAdvantage #MedigapSeminars #MedicareExplained #NewToMedicare #Medicare2022 #Medicaresupplements #MedicarePartC #Medicare