Medicare Advantage is a fundamentally different means of enrolling in Medicare Part D. While it still does involve enrolling in Parts “A” and “B” as a prerequisite, a Medicare Advantage policy requires that you “assign” your Medicare Part D benefit to a private insurance carrier- for what can be an undetermined length of time. In turn, the private carrier manages your benefits and creates a schedule of co-pays for covered services.
Advantages of Medicare Advantage
- Often charges the lowest possible premiums for a supplement
- In some cases premiums may be as low as $0. Yes, zero dollars!
- Can include an integrated Part D (Rx) Plan.
Disadvantages of Medicare Advantage
- Limits your access to providers within a local medical group.
- For plans that include Part D coverage, one-size-fits-all Rx coverage may not be optimized for your situation
- Can be restrictive about authorizing certain items, particularly expensive durable medical equipment and certain elective procedures.
- Once enrolled, you cannot assume you may enter a traditional supplement during Annual Enrollment Period.
What to Do Next?
For answers all of your Traditional Medicare and Medicare Advantage questions, please be in touch. You may call Lucent Insurance Services directly at 408-348-8930. Or drop us an email via our Contact Page.
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