Different Types of Medicare Advantage Plans
Medicare Advantage Plans: Types
Private companies that have a contract with Medicare usually offer Medicare Advantage Plans. These plans offer all Part A and Part B benefits. There are a number of different types, which include:
Types of Medicare Advantage Plans
Health Maintenance Organization (HMO) Plan
This kind of Medicare Advantage Plan only covers services provided by doctors or hospitals that fall under contract with any Health Maintenance Organization.
To utilize the HMO plan, you may need to find a doctor or specialist that is in the plan’s list, with the exception of cases of extreme emergency. It may also be required of you to ask your primary-care doctor to give you a referral if you wish to see other doctors or specialists. Here are the HMO Plans near you.
Preferred Provider Organization (PPO) Plan
This form of Advantage Plan is mostly offered by private insurance carriers. When using pre-listed doctors or healthcare facilities on the plan, you may be entitled to reduced rates. However, higher charges may apply if you visit a doctor, hospital or provider not on the list.
Private Fee-for-Service (PFFS) Plan
Offered by private insurance carriers, a PFFS plan is different from Original Medicare or Medigap. This form of Medicare Advantage Plan sets a limit to how much of the health care payments it will cover, and how much of the costs need to come out of your own pocket.
Medicare Special Needs (SNP) Plan
This is a specialized Medicare Advantage Plan reserved for those with certain health complications or ailments. This plan can be tailored and customized according to the needs of the patient in question. It may also include prescription drug costs and treatment. Find out if you’re eligible here.