AARP Medicare Advantage: What You Need To Know
AARP Medicare Advantage is a voluntary program for people with Medicare. It gives you the choice of what, where and how you want your Medicare benefits covered. The program lets you choose from a number of plans and providers, all of which offer different coverage and cost-sharing options.
What is AARP Medicare Advantage?
AARP Medicare Advantage plans are a type of Medicare Advantage plan that is sponsored by the AARP. These plans are available to people who are enrolled in both Medicare Part A and Part B, and they offer the same benefits as other Medicare Advantage plans. The main difference between AARP Medicare Advantage plans and other Medicare Advantage plans is the cost. AARP members may be eligible for a discount on their monthly premium, and they may also be able to save on out-of-pocket costs such as copayments and coinsurance.
Types of Medicare Plans
There are four types of Medicare Advantage Plans: Health Maintenance Organizations (HMOs), Preferred Provider Organizations (PPOs), Private Fee-for-Service (PFFS) Plans, and Special Needs Plans (SNPs).
HMOs: An HMO plan provides coverage for in-network care only. You will need to choose a primary care physician (PCP) from the plan’s network. The PCP will coordinate all of your healthcare services. In most cases, you will need a referral from your PCP to see a specialist.
PPOs: A PPO plan also has an in-network provider network, but you can see out-of-network providers too. You do not need a PCP or referrals to see specialists, but you will pay more for out-of-network services.
Private Fee-for-Service Plans: With this type of plan, you can go to any doctor or facility that accepts the plan’s payment terms as full payment. These plans typically have no network restrictions and no need for referrals to see specialists.
Special Needs Plans: SNPs are designed specifically for people with certain chronic conditions, such as diabetes or heart failure; people who are eligible for both Medicare and Medicaid; or people who live in a nursing home.
Pros and Cons of AARP Medicare Advantage
There are a lot of different things to consider when you are thinking about signing up for AARP Medicare Advantage. Here are some of the pros and cons that you should keep in mind before making your decision.
One of the biggest pros of signing up for AARP Medicare Advantage is that you will have access to a wide network of doctors and hospitals. This can be extremely helpful if you need to see a specialist or if you have an emergency. Another pro is that you will have prescription drug coverage included in your plan.
There are also a few cons to signing up for AARP Medicare Advantage. One of the biggest cons is that you will have to pay a monthly premium. This can be difficult to afford if you are on a fixed income. Another con is that you may have to pay more for some services than you would if you had Original Medicare.
Compare Different Plans to Find Your Best Fit
When you’re ready to compare Medicare Advantage plans, you’ll want to take a close look at the features and benefits each plan offers. Here are some things to keep in mind as you compare plans:
– Make sure the plan covers the doctors and hospitals you use most.
– Check to see if your prescriptions are covered and what kind of coverage is offered.
– Compare the costs of each plan, including premiums, deductibles, and copayments.
– Ask about extra benefits that may be included in some plans, such as dental or vision coverage.
Once you’ve considered all of these factors, you’ll be able to choose the Medicare Advantage plan that’s right for you.
Conclusion
If you are a Medicare Advantage enrollee or are thinking about enrolling in one of these plans, it’s important to be aware of the pros and cons before making any decisions. These plans can offer some great benefits, but they also come with some potential drawbacks. Be sure to research all of your options carefully before enrolling in a plan to make sure it’s the right fit for you.
