Why Medicare Advantage Plans Are Bad 2020
You may have heard from other seniors or from doctors that Medicare Advantage plans are a poor choice for healthcare coverage. You might have heard that they cover expenses that are not relevant to you or that are already covered by other plans. You might have heard that they are inconvenient because you feel like you are being charged for all sorts of expenses that add up over time. You may be wondering why Medicare Advantage plans are bad for 2020 and why Medicare would allow them to still be offered if they are so unhelpful.
Our team has been working with health insurance for years now, and we can certainly say that Advantage plans are not bad, but they are probably misunderstood. Some people simply have the wrong perceptions about them and we want to talk about some of the arguments against these plans and why those arguments simply don’t hold up. After all, thousands of seniors save money with Medicare Advantage each year, so they must hold some value.
Medicare Advantage Plans are Overpriced
This is one we hear often, and it’s not unreasonable for consumers to want cheap healthcare. However, the cost of Medicare Advantage is quite low in comparison to all that it offers. Advantage plans can cover you for the entirety of Original Medicare (save for hospice services) and for all medical care that is classified as emergency or urgently needed. That’s a ton of coverage right here in just the most basic of Medicare Advantage plans. When you consider the higher coverage and higher priced Advantage plans that also cover the cost of Medicare Part D, various checkups and some durable medical equipment, then you can see that there is a ton of coverage for you to benefit from.
Yes, Medicare Advantage can be costly, but you are getting real value for your dollar, and when you compare the cost to other medical insurance plans, you will see that Medicare Advantage plans are often cheaper and more economical. In other words, these plans do more for you while offering a fair, often competitive price. If you do have concerns about pricing, then you should consider using our website to source prices and compare them. You can often find a really good deal this way.
They Have a Limited Network
Medicare plans are limited by those healthcare facilities that do or do not accept Medicare. You can’t just take a Medicare plan to any clinic, doctor’s office or hospital and expect for that facility or provider to accept your plan. Similarly, you cannot take a Medicare Advantage to any healthcare facility expecting for your plan to be accepted.
Advantage plans are bound by their insurer’s network. So, if your insurer didn’t get agreements from healthcare providers in your area, then those healthcare providers will not be on the company’s network and will not be able to fully accept your plan there.
You should know about the upside to this, though. Most insurers have a very large network, so this tends to not be much of a problem. In those places where their network does not extend, you can use a PPO Advantage plan. This gives you partial coverage anywhere outside of your insurer’s network. You will have to pay a bit more for this perk, but it can be worth it so you don’t have to travel far to get your approved healthcare coverage and services.
That limited network is one thing many people will point to when they want to tell you why Medicare Advantage plans are bad for 2020, but they may not be aware of the options provided for seniors and how few people on Medicare Advantage plans actually go without coverage, even outside the network. The different options provided by insurance companies for these plans lets you get coverage anywhere you want and with any provider that you choose. That means you enjoy a lot of freedom in your choices.
Enrollment Is Very Restricted
It’s true that you only have a very limited time in which to sign up for a Medicare Advantage plan. The Open Enrollment period only runs from October 15th until December 7th, but it is not as big of a problem as you might think. You don’t have to wait until that time to start looking at plans and comparing prices. The rate and coverage information is usually available online far earlier than the beginning of Open Enrollment. You can be looking ahead all year and have a plan picked out and ready to go by the time Open Enrollment comes around.
You also don’t have to worry about missing the enrollment period and permanently being left without the plan you want. Your first enrollment period will begin when you are eligible for Medicare, which is usually at age 65. At that point, you can sign up for Medicare Advantage during any enrollment period that follows. These come around once a year, so if you miss it one year for whatever reason, just wait for the next year and the next enrollment period.
Is Medicare Advantage Really All Bad?
Advantage plans have the potential to help you save lots of money on health insurance. You don’t have to pay the high price of other major medical plans or suffer from multiple premiums when you could consolidate multiple plans into one Advantage plan. The Advantage plans also offer a wide range of coverage options, letting you experience coverage even outside of your insurer’s network and offering you diverse plans that meet your needs no matter what they may be.
We think that seniors should consider these plans whenever they are feeling that their current coverage isn’t doing enough. While some people are asking why Medicare Advantage plans are bad for 2020, you can be comparing prices on them and finding the one that fits you best. If you need any help or have some questions, then be sure to get in contact with us. We are happy to help however possible.
Compare Medicare Advantage for 2020