Change in Medicare Advantage Plans in 2017
The Medicare Advantage plans came into existence back in 1995, and nowadays they are also referred as Part C. The Plans are provided by the private insurance companies but are managed or controlled by the Federal Government. The Medicare Advantage plans are bound to provide coverage not less than coverage which is offered by the Original Medicare but coverage can go way up. These plans mostly offer prescription drug coverage and sometimes hearing, vision, and dental coverage is also offered. In 2016 almost seventeen million people enrolled in the Medicare Advantage plans and number increased up to nineteen million in the Medicare advantage plans 2017. Go to https://www.medicareadvantage2019.org/
Sometimes the plan providers offer you plan which costs you less but provides a lot more coverage due to which health insurance Advantage schemes automatically become best option for many. The difference between health insurance benefit schemes and Original Medicare in terms of cost is that Original Medicare will have you footing on twenty percent of a lot of bills with no bound on out-of-pocket costs which you might have to pay however, health insurance benefit schemes include a particular copay for each doctor visit or facility, and there are many services which will be covered via your premium. A good thing in Medicare Advantage plans is that these plans have a limit for out-of-pocket costs, so once you hit out-of-pocket cost limit, then your plan will cover all of your further medical expenditures. There are many plans which do not cost enrollee regarding premiums. According to recent results, average monthly premium for health insurance benefit schemes was $33.
- In 2017, star rating procedure improved a lot due to which plan providers try their best to improve their customer service and benefits because due to the strict monitoring procedure the competition has increased at the same time as well.
- Average health insurance Advantage monthly premium decreased to a level of four percent in 2017 (from $32.59 during 2016 to $31.40). According to CMS decrease in monthly premium was almost thirteen percent less than premium which was in action before Affordable Care Act due to which almost sixty-seven percent of Medicare Advantage enrollees experienced no increase in monthly premium.
Changes mentioned above do not affect attractiveness of health insurance Advantage plans in any way. Therefore, do look at these changes when you make up your mind about purchasing a Medicare Advantage plan.