Medicare Advantage Plans
Get It All in One Place - Medicare Advantage
New Jersey Medicare participants may find they want a plan that combines everything in one place, including benefits like vision or dental. Medicare Advantage plans are provided through private insurance companies that contract with the federal government and vary based on the county you live in. Contact one of our Medicare brokers for a free, unbiased resource for the options available in your area.
What Is Medicare Advantage?
Medicare Advantage (Part C) is way of getting your Medicare coverage through a private insurance company. These plans are required to cover at least as much as Medicare Parts A and B, but plans can offer additional benefits that may be important for your individual needs and standard of living, hence the advantage.
When looking into a Medicare Advantage plan you should know that in NJ these plans are either an HMO or PPO.
- HMO (Health Management Organization) - beneficiaries must obtain care doctors and hospital in a network.
- PPO (Preferred Provider Organization) - is more flexible than HMO; it has a list of providers, but you can go outside the list, typically for a higher copay.
What Additional Benefits Can Medicare Advantage Cover?
The additional benefits Medicare Advantage plans offer vary depending upon the plan. Potential benefits covered can include any of the following:
- Limited Dental
- Limited Vision
- Gym membership at participating gyms
- Over the counter supplies
- Nurses to do home visits for an annual checkup
- Prescription drug plan is included in the policy so you don’t need to have a separate drug plan
When Can You Enroll in a Medicare Advantage plan?
There are a number of times when you can enroll but below are the most common.
- Medicare Open Enrollment (October 15th - December 7th) - During this time you can enroll in a Medicare Advantage plan for the upcoming year.
- When you are first eligible for Medicare - You have a 7 month window, 3 months before your birthday month, your birthday month, and 3 months after to decide if this is a good fit for your needs.
- Anyone who receives extra help through either the state of New Jersey or the federal government to pay for their drugs can make one change at any time during the year.
Each year these plans change so it’s important to review your coverage during the Open Enrollment to understand how your plan will look in the upcoming year. With Medicare Advantage plans you must continue to pay your Part B Medicare premium.
For more information on Medicare Advantage contact New Jersey Medicare Brokers today.