In the past, people with Medicare had few options for healthcare coverage. Today, however, the landscape is much different. There has been a growing trend toward private plans called Medicare Advantage plans that provide additional benefits and perks over standard Medicare.
In this article, we’ll help you understand why a Medicare Advantage plan might be a good choice for you. We’ll also discuss some of the advantages of switching to an MA plan from traditional Medicare. Read on to learn more about why you should consider making the switch to an MA plan from traditional Medicare.
No Waiting Period For Prescription Drugs
Another important advantage of switching to an MA plan is no waiting period for prescription drugs. Traditional Medicare policyholders have to get coverage for prescription drugs after completing a Part D application and waiting a few weeks for coverage to begin. But with an MA plan, you can access prescription drug coverage immediately.
This can be a huge benefit for many seniors who struggle with chronic health conditions or who require regular prescriptions. Even if you’ve had Medicare for a while, it’s always worth checking to see if there’s a plan you might like better. Medicare Advantage Plans usually have shorter waiting periods and no co-pays. You may be able to save money and get better prescription drug coverage.
Higher Deductibles And Co-Pays
Another thing to keep in mind as you’re researching Medicare Advantage Plans is that the deductible and co-pays tend to be higher. This is because the plans are privately administered, which allows the insurance companies to provide additional coverage. If you’re currently in traditional Medicare, you can expect to see higher out-of-pocket costs when you make the switch to an MA plan. However, you should also see an increase in coverage.
It Can Be A Stepping Stone To Other Types Of Coverage
If you’re concerned about the amount of time it takes to sign up for information, you may want to consider an MA plan. Since they’re private plans, they take a little bit longer to get approved for than Medicare. But, they’re still much faster than private insurance plans.
If you’re worried that you won’t be able to sign up for Medicare in time, you can use an MA plan to bridge the gap. This way, you can be sure you’re covered when you need it. You might want to consider waiting until your Medicare eligibility has been determined before you enroll in an MA plan, though. That way, you’ll know exactly what coverage you’re getting.
Final Words: Is It Right For You?
Switching to a Medicare Advantage plan is a great way to extend your coverage and get additional benefits. If you have an MA plan, you won’t have to worry about the donut hole and you can always get prescription drugs. Additionally, MA plans often offer dental and vision coverage, which is not included in standard Medicare.
Switching to an MA plan is that you’ll likely see a higher out-of-pocket cost. However, this may be a small price to pay for the added benefits. If you’re considering switching, you can use this article as a guide. We’ve covered the basic differences between MA plans and traditional Medicare, as well as some of the advantages of MA plans.