Medicare Advantage Rates
The extra benefits offered my Medicare Advantage Plans sound better than original Medicare, but are the costs the same?
Some Medicare Advantage Plans have low or even no cost premiums. The plans are offered through different insurance companies and their availability and rates will vary.
Medicare Advantage rates are low because these plans negotiate with specific networks of doctors and hospitals. The costs are kept low by limiting coverage to those providers. Any restrictions in these plans don’t apply to emergency or urgent care. Referrals are often needed when seeing a specialist.
The future is changing for Medicare Advantage Plans. Previously, premiums have remained low because of government subsidies to these plans. But because these subsidies have now been frozen, the premiums for Medicare
Advantage Plans are expected to rise.
To join a Medicare Advantage Plan you must have Medicare Part A and Part B. You must also live within the plan’s area of service.
You can join a Medicare Advantage Plan when you first become eligible for original Medicare. The period to enroll starts 3 months before the month you turn 65 and it ends 3 months after the month you turn 65.
You can join Medicare Advantage Plans between October 15 and December 7. You can also join if you move outside your plan’s area and when you qualify for the low-income subsidy extra help or if you live in an institution.
You can join even if you have pre-existing conditions. The only pre-existing condition not covered is end stage renal disease (ESRD). If you develop ESRD after you get an Advantage Plan, you can still remain a member of the plan. You may also join after a successful kidney transplant. A Medicare Special Needs Plan for ESRD may also be available.
For more details on Medicare Advantage rates and all the information you need to make an informed choice contact one of the professional advisors at MediGap Advisors at 1-866-681-7712. We are not obligated to any insurer so we can look into all your options and there is never a charge for our services.