Posts Tagged ‘Seniors’

Medicare Part C – Medical Advantage plans – Description of types, and your costs

Friday, January 27th, 2012

Private insurance companies offer the following types of coverage through Medicare Advantage plans:

  • Health Maintenance Organization (HMO) Plans
  • Preferred Provider Organization (PPO) Plans
  • Private Fee-for-Service (PFFS) Plans
  • Special Needs Plans (SNP)

Other, less common types of Medicare Advantage Plans include:

  • HMO Point-of-Service (POS) Plans — An HMO plan that may allow you to get some services out-of-network for a higher cost.
  • Medical Savings Account (MSA) Plans — An MSA plan combines a high deductible health plan with a bank account.

Local HMOs and PPOs contract with provider networks to deliver Medicare benefits. Health Maintenance Organizations (HMOs) and Preferred Provider Organizations (PPOs) will cost participants the least amount of money for health care, but they are the most restrictive. For the most part, individuals are covered only when using the provider’s doctors, specialists, and hospitals.

In 2011, HMOs accounted for the majority (65%) of total Medicare Advantage enrollment. Local PPOs accounted for 18% of all Medicare Advantage enrollees.

Regional PPOs were established to provide rural beneficiaries greater access to Medicare Advantage plans, and cover entire statewide or multi-state regions. Regional PPOs accounted for 9% of all Medicare Advantage enrollees in 2011.

Private Fee-for-Service plans (PFFS) are the most flexible plans, but also the most costly. Participants are allowed to see their own Medicare-approved doctor or hospital who accepts the plan’s payment terms. They were originally authorized in 1997, but at the time they were not required to establish physician/specialist networks. However, since 2011, most have generally been required to do so. PFFS enrollment was approximately 0.6 million enrollees in 2011, which is 5% of all Medicare Advantage enrollees.

Special Needs Plans (SNPs), are usually HMOs with specific restrictions. Beneficiaries of these plans must be:

  1. Dually eligible for Medicare and Medicaid;
  2. Live in long-term care institutions (or would otherwise require an institutional level of care);
  3. Have certain chronic conditions.

 

From 2006 to 2011, the number of SNP enrollees has increased from 0.5 million to 1.3 million enrollees.

Medical Advantage Costs

According to the latest information from Medicare.org, participants’ out-of-pocket expenses depend on several different variables. These may include:

  • Whether the plan charges a monthly premium in addition to your Part B premium
  • Whether the plan pays any of the monthly Part B premium (some plans offer this option, usually for an additional cost)
  • Whether the plan has a yearly deductible or any additional deductibles
  • How much you pay for each visit or service (copayments)
  • The type of health care services you need and how often you get them
  • Whether you follow the plan’s rules, like using network providers
  • Whether you need the additional benefits and if the plan charges for it
  • The plan’s yearly limit on your out-of-pocket costs for all medical services

 

Sources used for this article:

http://www.medicare.gov/navigation/medicare-basics/medicare-benefits/part-c.aspx

http://www.medicare.org/medicare-basics/part-c.html#what%20is%20part%20c

http://www.kff.org/medicare/upload/2052-15.pdf

 

 

Losing your PA Medicare Advantage Coverage??

Saturday, December 5th, 2009

senior pffs

Many Seniors are losing their PFFS (Private Fee For Service) Medicare Advantage Plans. A PFFS, just simply means that the doctors will have to accept Medicare’s terms and conditions of payment. There are lots of agents that have sold these types of plans in Pennsylvania, but several of the companies are terminating these types of Medicare Advantage plans, which means you HAVE to get another plan!

Although this may be a terrible inconvenience to you, there is a beauty in it as well. You have the option to get into ANY plan you want to without having to answer Health questions!!! The actual term for this is “Guaranteed Issue!” 

If you perhaps find yourself in this situation, give me a call and I’d be very happy to meet with you and go over the different options that will fit your needs and budget!

(814)368-6980  ask for Jessica!

Annual Enrollment Period for medicare supplemental insurance…Nov.15 – Dec. 31

Saturday, December 5th, 2009

November 15 -December 31, this time frame is called the Annual enrollment period. What that basically means, is that during this time you are able to switch any of your PA medicare plans with no or very little health questions.  

We are having a great success helping Seniors make well informed decisions, and getting into plans that are literally going to save them hundreds of dollars a year. Yet on the other hand, there are some Seniors  who aren’t covered like they really need to be, and I have been able to get them into plans that will give them exactly the coverage they are looking for!

We sell a wide variety of PA Medicare Supplements and Medicare Advantages, and Preciription Drug Plans, so I’m pretty confident that we will have something that will fit all of your needs at the right price.  Just give me a quick call and I’ll help in any way that I can.  (814)368-6980 and ask for Jessica!

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