What is a Medicare Advantage Plan?
Medicare Advantage (MA), Medicare Part C, Medicare Advantage Prescription Drug (MAPD ) is where you take your Original Medicare (Parts A & B) and you assign it to a local carrier
What is Medicare Advantage?
MAPD/MA/PART C plans are submitted annually to Medicare and reviewed to confirm it is as good as or better than Original Medicare (Parts A & B)
They cover all that Original Medicare does and can provide additional benefits (drug coverage, dental, vision, gym membership, etc)
How is Medicare Advantage different?
Medicare Advantage plans have numerous differences from how Original Medicare and Medicare Supplements work
Network: most plans have a provider network where you receive preferred pricing, some plans do not cover you out of network
With Medicare Advantage plans you have a maximum out of pocket, maximum you will spend in copays and coinsurance. With Original Medicare you do not have a maximum out of pocket
With Medicare Advantage plans you generally have copays for services (doctor visits, labs, etc) where with Original Medicare you are responsible for 20% of the cost
When can you change Medicare Advantage plans?
Medicare Advantage plans can be changed annually (October 15th to December 7th)
This period is called the Annual Enrollment Period (AEP)
AEP is open to everyone but if you want to stay on the same plan, do nothing and come January 1st, you roll into the new plan
It is also marked by all the TV ads...GRRR!!!!
The "Free Look" period is October 1st to October 14th when you can see next year's plans but not enroll
There are MANY Special Election Periods (SEP) for Medicare Advantage plans
Some include moving, qualifying for Extra Help, Tenncare, moving in or out of an institution, being a veteran and many other options (if your plan is not working outside of AEP, easiest to reach out and talk with me)
Are You Low Income?
Depending on your income, there is help available!
There is help from Social Security with prescription costs!
There is help from the state (Tenncare) which might pay your Part B premium or more!
I help people (not just clients) apply for these and in 30 to 45 days you should have a response and from there I can advise you on your options!
If you know someone on Medicare who is struggling, please ask them to text me so I can see if I can help
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We do not offer every plan available in your area. Currently we represent 8 organizations which offer 38 products in your area. Please contact Medicare.gov, 1-800-MEDICARE, or your local State Health Insurance Program (SHIP) to get information on all of your options
Updated 10042024
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