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Basically, a Medicare Advantage Plan takes over for Medicare and is sold by private insurance companies who must follow Medicare’s guidelines and cover the same items as Original Medicare. Medicare Advantage Plans frequently include prescription drug coverage, all in one package deal.
To view or download a booklet called "Understanding Medicare Advantage Plans" Click Here
If you join a Medicare Advantage Plan in Colorado you must continue paying your Medicare Part B premium, but you will get your Medicare-qualified health care through the Medicare Advantage Plan—not through Medicare.
Lower price tag: Low premiums are the biggest attraction. Premiums in Northern Colorado can range from about $67 per month for a PPO plan to as low as $0 for an HMO plan. Yep, zero as in zip, zilch, nada.
Changes: How long such $0 premium plans will last is a big question mark, but at least in 2019 they are available from several carriers. Most plans automatically include prescription drugs at no additional cost. Some plans include dental and vision, and even free health club memberships.
Out of Pocket Costs: You will incur costs for virtually every single doctor visit and medical procedure, both in and out of the hospital (except for preventive services which are free). Your costs can include deductibles, co-payments and coinsurance which will continue until you reach your maximum out of pocket (MOOP) which could be as high as $6700.
Network Restrictions: The biggest drawback is the requirement to see network providers. What if you want to see a highly regarded specialist that is not in the network? In a PPO you would face higher out of pocket costs, while in an HMO you would generally receive nothing from the insurance if you saw an out of network provider (except in the case of a sudden emergency).
Doctor & provider network required?
Call us today at (970) 224-5500 or toll free at (800) 553-1444 for a free, no-obligation Colorado Medicare consultation!