A Medicare beneficiary has the option of receiving their Medicare benefits in one of two ways–Original Medicare or through a Medicare Advantage plan. Medicare Advantage plans are healthcare plans offered by private companies with a contract with Medicare to A Medicare beneficiary has the option of receiving their Medicare benefits in one of two ways–Original Medicare or through a Medicare Advantage plan.

 

Medicare Advantage plans are healthcare plans offered by private companies with a contract with Medicare to do so. As such, they must meet certain standards and criteria set by Medicare. Medicare then rates these plans yearly on a 5-star basis.

 

There are several types of Medicare Advantage plans. These include Health Maintenance Organizations (HMO); Preferred Provider Organizations (PPO); Private Fee-For-Service plans (PFFS); and Medicare Savings Accounts (MSA).

 

There are also Special Needs Plans (SNP) for beneficiaries who have medicare and medicaid or have a chronic conditions such as diabetes, cardiovascular disease, chronic heart conditions and more.

 

Most plans will have the Part D Prescription Drug Plan included within it. All plans must have a maximum-out-of-pocket amount to protect you — that is, a limit as to how much you might pay in the event of a serious health condition.

HMO and PPO plans are most commonly found in the Florida market. There are any number of factors that must be considered in choosing a plan.

 

These include the network–that YOUR preferred doctors accept the plan; that medications are covered at the lowest price; travel privileges; total costs; extra benefits, and more.