Medicare Advantage Plans (MA-PPO/HMO) are sold by insurance companies while Medicare Supplement plans (Medigap) are sold by insurance companies and private insurance companies. The plans are very similar, and the advantages are essentially the same. However, some plans are better than others, so it is important to do a little homework before you make a final decision. Medicare Advantage plans are health plan options for Medicare beneficiaries. They are available in four different categories: HMO, HMO-POS, PPO, and PFFS. The benefit design of the Medicare Advantage plan options is standardized, with an emphasis on preferred provider organization (PPO) and private fee-for-service (PFFS) plans. The government sets the rules for Medicare Advantage plans, and private health insurance companies offer the plans to Medicare beneficiaries. The plans must cover all of Medicare’s Part A and Part B benefit requirements. They also must offer coverage for Medicare’s Part D prescription drug benefit, which is called Medicare Part D. The plans must provide at least the same coverage as the standard Medicare fee-for-service program with respect to the Part D benefit. Medicare Advantage plans may charge premiums, copayments, and deductibles. Call Kevin Leinum your local Medicare expert for more information.
