There are so many healthcare choices when you retire and sign up for Medicare. There is Original Medicare, or you can choose Medicare Advantage.
CareMoat believes that the best option for most retirees is a Medicare Advantage plan (also known as part C) because you will save money, have higher quality health care and have options you would not have with regular Medicare.
Medicare Advantage may not be the best choice depending on your individual circumstances. Medicare Advantage has a limited network of providers which differs with each Medicare Advantage provider. Standard Medicare accepts all providers that accept Medicare. Make sure you understand the differences because once you sign up for Medicare Advantage, you cannot go back to Standard Medicare. If you work with CareMoat we will make the process of signing up for the right plan easy and quick. We will even help to fill out the forms for you.
Medical Advantage saves money with premiums decreasing annually!
In 2020, CMS reported the Medicare Advantage average monthly premiums decreased to $23, representing a $3.87 decline from 2019. This represents an average monthly premium decrease of 27.9% since 2017. CMS also announced that the average Part D premium in 2020 was $30, a $4.70 decline from 2017. This the third year in a row both programs have seen declines in average monthly premiums
Medicare Advantage beneficiaries saved $1,598 over traditional Medicare beneficiaries in out-of-pocket healthcare spending. Traditional FFS Medicare beneficiaries also paid about 33% more on prescription drugs. For inpatient stays, beneficiaries in Medicare Advantage payed one-seventh of what traditional Medicare beneficiaries paid out-of-pocket.
Medicare Advantage plans also offer more diverse benefits, including the 80 percent of plans that offer vision, dental, or hearing benefits. All of these are benefits that traditional Medicare cannot offer. Over half of Medicare Advantage plans offer all four.
Medicare Advantage beneficiaries experience better outcomes!
Complex chronically ill beneficiaries in Medicare Advantage experienced 23% fewer inpatient hospital stays and 33% fewer emergency room visits than in Traditional Medicare;
Medicare Advantage beneficiaries had 23% fewer inpatient hospital stays than Traditional Medicare beneficiaries
Medicare Advantage beneficiaries were 29% less likely to have potentially avoidable hospitalizations when compared to Traditional FFS Medicare beneficiaries
Medicare Advantage beneficiaries had 41% fewer avoidable acute hospitalizations than Traditional beneficiaries.
Choosing a specific Medicare Advantage plan is not easy or obvious.
The number of plans jumped 49 percent since 2017. On average, there are 39 plans available per county. The plans vary in pricing and there are big differences in each plans coverage terms, allowed healthcare providers and the quality of service you will receive. CareMoat can help you with your best choice.
Medicare has an excellent website that explains your many options.