Choosing Between Medicare Advantage and Traditional Medicare

Charlotte Miller

Also acknowledged as Medicare Part C, Medicare Advantage Plans 2024 are proposed by private insurance companies, and they work as substitutes for traditional Medicare. Every MA plan provides people with benefits that they get from both Medicare Part B and Medicare Part A. A few plans also comprise prescription drug coverage. Again, some include some extra benefits too, like dental and vision, so that they can help in supporting people’s general health. A person can get enrolled in an MA plan when he has coverage under Medicare Parts A as well as Part B. However, the enrollees should live in the service area of the plan.

Some tips to consider

If you are perplexed regarding choosing between Medicare Advantage and traditional Medicare, you should consider the tips mentioned below:

Consider whether or not you need coverage for some extra benefits, vision, or dental services- You will find that MA plans encompass everything that people get from the original Medicare besides some more. Hence, if you want to gain fitness, vision, or dental benefits, you should opt for an MA plan.

Never forget your total costs – The total costs of a person vary based on the coverage a person chooses besides the health services he needs. However, people should consider the below-mentioned factors when they compare between various options:

  • MA provides built-in financial protection to every enrollee, and the yearly out-of-pocket limitation helps them keep their costs under control.
  • The enrollees of traditional Medicare are required to pay higher premiums. They could have a higher monthly premium payment with traditional Medicare compared to an MA plan most of the time. They want to include Part D prescription drug plans and other kinds of additional coverage, too.
  • People might pay more copays when they have an MA plan, and based on the providers or healthcare services they use, their copays can be higher when they opt for an MA plan.
  • An MA plan proposes financial protection to people with a yearly out-of-pocket limit. A person can include protection to his traditional Medicare if he has a Medicare supplement plan.
  • People might have monthly premium payments when they have traditional Medicare compared to MA as they might wish to include Part D prescription drug plans or a Medicare supplement plan.

Consider your frequency of leaving home – Traditional Medicare covers care that people get from providers who accept Medicare all through the country. When they opt for the MA plans, they find that most of them see providers who are present in the plan network. This way, they can avoid the additional costs. All network providers consent to the negotiated costs of the MA plan for getting benefits of the cost savings. However, if a person travels a lot, he should consider how his traditional Medicare coverage works with this aspect. 

The providers of MA plans

Several private insurance companies are considered to be the finest providers of MA plans, including Aetna, Blue Cross Blue Shield, United Healthcare, Humana, etc. People assess every provider according to the states in which they provide their coverage and the benefits they offer. Again, they also see the ranking of these insurance companies from the CMS (Centers for Medicare & Medicaid Services).