Conceived to be an alternative to Original Medicare, Medicare Advantage Plans are wide-spread and available through a multitude of insurance companies.
When you enroll in one of these plans you actually disenroll from basic Medicare and a third-party takes over your health care. Take your original Medicare card and put it away because now you’ll be using a card the plan issues to you. This card will be used for all your Inpatient, Outpatient, and Prescription Drug coverage.
Another feature of the plan is you’re going to have a network of doctors in a network, either an HMO or PPO organization. Also, unlike Original Medicare these plans will have pre-authorizations for many of your services.
Advantage Plans come with a schedule of co-pays as well as a maximum out of pocket that resets each year. It may cost you $5, – $20 to see your Primary Physician, $25 – $50 to see a Specialist, $250 if you elect Outpatient Surgery, and up to $350 daily as a hospital inpatient.
All of these co-payments are going towards your annual maximum out-of-pocket which could range, depending on the plan, from $1,500 – $10,000 for the year.
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