Are Medicare Advantage plans a better option?
One of the most important points of sale that Medicare Advantage Plans has is the low cost. The federal government still subsidizes these plans and has a new strategy that makes certain prices more attractive. The Medicare Advantage plans are now rated on a five-star scale and a higher rating means more federal funds. This in turn means that premiums can be low because the insurance company is earning more federal money from the plan.
Medicare Advantage Plans See a decrease in premiums
Medicare Advantage policies are assumed to be cheaper in 2012. Is a four percent reduction in cost projected, with an average of $ 32 per month? This is quite outstanding given that some of these plans already cost nothing above the cost of the Part B premium of Medicare. In the last 20 years, private coverage has also permeated the Medicare industry, with alternatives to the federal health care program available. These policies, known as Medicare Advantage policies, must comply with several federal regulations and are funded by the federal government, but the current program is administered by private insurance companies.
Medicare Advantage plans may offer some advantages, but it is important to be careful when choosing one and compare your plans with what traditional Medicare offers. Although they must comply with federal guidelines, they have room to select how to comply; hence, they may have a greater fee for things like extended health care while providing less expensive medications. Another recent change to Medicare is affordable prescription drug insurance. Prior to 2006, the Medicare prescription drug insurance have given rise to expectations and, as a result, a law was passed to extend care. Medicare beneficiaries can now request a private prescription drug plan designed to cover the cost of most prescription drugs.
Medicare health plans are expected to increase members
Currently, only about 25% of people eligible for Medicare receive benefits through one of the Medicare Advantage Plans. However, as premiums fall, private insurers expect an increase in enrollment in 2012. The other big selling point of Advantage plans is low cost combined with expanded coverage.There are many changes for the 2012 calendar year with Medicare. A change is the enrollment period when you qualify to apply for medical and drug insurance benefits. Another change is the period in which you can eliminate your Medicare Advantage option and enroll in Medicare regularly. The new rules state that any changes made to the plan will take effect on the first day of the following month.