Aetna which is a private health insurance company offers a new way to the retirees and the senior citizens to receive their Original Medicare perks, and this new way is Aetna Medicare Advantage Plans. The Medicare Advantage plans are bound by the law to provide all those benefits which are found in the Original Medicare such as Part A and Part B benefits however, it does not provide the hospice care because that is covered in Medicare part A. The Medicare Advantage plans in 2019 differ from the original Medicare also on basis of mode of regulation because the private insurance companies control the Medicare Advantage plans whereas Original Medicare is federally regulated (by government).
As we have already discussed that Medicare Advantage plans are offered by private insurance companies well, these companies are approved by health security. Health security pays some fixed amount to private insurance company for your healthcare coverage by following set of instructions from health insurance.
Health insurance Advantage plans have different types, and they are classified on basis of their benefits. Also, there are many types of health insurance Advantage plans which offer health insurance Prescription Drug plan as well. Some of types of health insurance Advantage plans are:
- Health Maintenance Organization (HMO): For getting services only within the provider’s network.
- Preferred Provider Organization (PPO): For availing out-of-network services.
- Private Fee-for-Service (PFFS)
- Special Needs Plans (SNPs): Meant for only those people who have certain problems.
- HMO Point-Of-Service (HMOPOS): An alternative to HMO.
- Medical Savings Account (MSA)
Well, choosing right health insurance Advantage plan is solely your decision because you have to see that does a particular plan covers your basic needs or not? You should go through all details of every plan, and then you should compare each and every plan in terms of their benefits, costs, and also terms and conditions. If you are a person who has a fixed doctor for checkup, then you should first make sure that whether that doctor falls into provider’s network or not?
Going through drug coverage is also a good idea because many plans such as SNP plan offer Prescription Drug coverage to its members and they also provide a list of covered medications therefore, you should check that whether your prescription drugs are available in that list or not because if it does not then you will have to pay for drugs out of your own pocket.