Medicare Advantage (MA) Plans, also known as Medicare Plan C, combine Original Medicare with other benefits. As you probably know, these plans are managed by private insurers approved by Medicare. But have you ever wondered how many different types of Medicare Advantage plans there are? In this blog post, we will take a deep dive into the various types of Medicare Advantage plans that exist.
1. Health Maintenance Organization (HMO)
With an HMO, you can only get care from doctors and healthcare facilities within the plan’s network. You will also need a referral from a Primary Care Physician (PCP) to see other doctors or specialists.
2. Preferred Provider Organization (PPO)
This type of Medicare Advantage plan gives you more flexibility than an HMO. You can go directly to any doctor or healthcare facility, but you need to keep in mind that visiting a doctor within the network may be less expensive than an out-of-network provider.
3. Private Fee-For-Service (PFFS)
A PFFS plan is similar to Original Medicare in that you can see any doctor that takes Medicare as well as the healthcare services you need, but the provider has to agree to the plan’s payment terms and conditions beforehand. To avoid additional charges, it is essential to see doctors, healthcare facilities that accept your PFFS provider’s terms.
4. Special Needs Plans (SNP)
These plans are tailored for individuals who have specific chronic health conditions or certain care needs. SNPs can be HMO or PPO plan types, and include the same Medicare Part A and Part B benefits as Medicare Advantage Plans cover. The crucial difference is that SNPs might also cover extra services for the special groups they serve
5. Medical Savings Account (MSA)
MSAs have two components, a high-deductible health plan and a Medical Savings account. Under this plan, Medicare puts money into an account for your healthcare costs. You can access the money using a checking account or special debit or credit card your bank gives you.
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