Do you have a Medicare card? If so, you’re eligible for the new Medicare Advantage Plans. These plans are available in all fifty states and offer many benefits to those enrolled. But even if your state doesn’t have an option or you don’t want the plan, a lot can be done to ensure the money is well spent.

The Medicare Advantage Plans are accessible for those enrolled in a Part D drug plan. However, they charge an extra premium for people who aren’t eligible. If you’re already enrolled in a Part D plan, there’s no need to start with Medicare Advantage Plans. Also important to remember is that your current insurance company does not subsidize the plans. Instead, they’ll pay premiums based on your income and plan options.

Reasons to Invest In Medicare Advantage Plan –

Improved Medicare Advantage Plans

While “regular” Medicare doesn’t cover everything, it offers a baseline level of coverage that can be improved with a health plan. For example, if you get sick and have to stay in the hospital for an extended period, your supplementary insurance will pay out, not Medicare. 

The same goes for dental, vision and hearing care not included in the basic program. The point is that these plans allow people to manage their healthcare funds more effectively and get more value for their money.

Improved Monthly Premiums

The average monthly premium for a Medicare Advantage Plan is around $20 to $30 per month, with some plans charging less than $10. You’ll have to look at other options if you’re on a tight budget and can’t afford to pay that premium every month. However, if you get the extra insurance plan through your employer, it will be part of your benefits package and won’t go on your taxes like a plan purchased on your own.

Coverage is Comprehensive and Covered Nationwide

Private insurance companies across the country provide Medicare Advantage Plans. If a person buys a plan from an insurer in their home state, they’re still entitled to use it in any other state. 

The same can’t be said for Medicare coverage or any plan not purchased through the Advantage Plan program. So while people still have to research plans on their own and make sure they’re within specific parameters, there is more freedom when making this choice.

Added Benefit

  • Medicare Advantage Plans do offer added benefits. For instance, these plans often include free access to prescription drugs and medical equipment. 
  • It can be an easier option for older people who have to take multiple medications for various ailments. 
  • The added cost of the overall coverage is often offset by the fact that Medicare does not require people to pay more than $1,000 for in-home medical care. Many drugs are also very inexpensive on average.

Help with Long-Term Care

Medicare Advantage Plans will pay for senior citizens’ care if they need it. However, it’s important to note that this only applies to people who purchase the plan in their state. If someone moves to another location with no Medicare Advantage Plan, they won’t be entitled to the additional coverage.

Things to Consider while Investing in Medicare Advantage Plans –

State-by-State Coverage

You may have heard that Medicare Advantage Plans are offered in all states. However, this isn’t the case. The plans approved by the federal government only cover the 49 states and several territories. Private insurance companies are free to offer plans in other states if they want to, but Medicare won’t pay them.

Price is Not Affected

  • The premiums charged by Medicare Advantage Plans do not increase every year or at any point in time. The only exception is when the plan is switched out. 
  • These fees will change if the Medicare Advantage Plan is switched with a different health plan or has lower rates. On average, the premiums are around $20 per month. 
  • If you get billed for a higher premium, this may be because it is the first year of enrollment, or perhaps the plan has changed and will be more comprehensive.

Covered Care is Not Set in Stone

The care covered by Medicare Advantage Plans can change depending on where people live and their circumstances. For instance, one Medicare Advantage Plan might cover dental care for those with limited vision while another does not. The plan’s doctors and hospitals will also differ from state to state.

Changes in Financial Hardship

You may have heard that Medicare Advantage Plans offer certain financial benefits that cannot be taken away. These benefits include prescription drug coverage, dental coverage, and other medical care (including vision, hearing, and mental health). 

The idea is that people with Medicare have more freedom to make the right choices and not worry about how they will afford care. A grievance process also allows people to appeal any covered benefit they can’t, or don’t want, to use.

Too Good to Be True Coverage

  • While it’s true that Medicare Advantage Plans do offer a higher level of coverage than regular Medicare, they’re not all created equal. 
  • In truth, there are many options, and the plans aren’t necessarily all better (or worse) than one another. In addition, while people can receive added financial benefits through plans like these, they still have to pay the premiums and ensure they comply with all the relevant laws. 
  • You’ll want to make sure you compare the plans and only choose the one that best fits your needs.


The Medicare Advantage Plans are an excellent option for many seniors. They are more comprehensive than the basic program, have lower premiums, and offer an array of other benefits that directly impact your day-to-day life. However, if you haven’t yet reached retirement age, this may not be the best choice for you at this time. You can get more information about these plans by contacting Medicare directly or going to the website for private insurance companies in the state where you live.


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