Medicare Advantage Plans for 2016 will soon be available. While most Medicare beneficiaries already have their 2015 coverage in place, it’s already time to look forward to Medicare Advantage plans for 2016. The basics won’t change: There will still be Medicare Advantage plans, Medicare supplement plans, and of course, Medicare drug plans. However, it will be just as important to compare health insurance options for 2016 as it has been in the past because premiums and coverage details are likely to be different in the coming year.
Do you need help in comparing Medicare Advantage Plans 2016? We provide quick Medicare insurance quotes via our online quote form. Since options vary by state, city, and even ZIP code, you need to enter your location in the quote form to get started.
Medicare Advantage Plans for 2016
Before discussing Medicare Advantage plans for 2016, it will be helpful to review some quick facts about Medicare in the United States:
Besides people who still qualify for employer medical plans or those who get other public benefits, a great number of Medicare beneficiaries understand that original Medical has gaps in coverage. These gaps in coverage could be health services that Medicare either won’t pay for or won’t fully pay for because of deductibles, copays, and coinsurance. In some cases, this could expose recipients to thousands of dollars in medical bills.
Common Medicare Advantage plans for 2016 include:
Medicare Advantage Plans for 2016
Most Medicare Advantage (MA) plans rely upon PPO or HMO networks to help keep costs lower and provide easy access to network health providers. There are still some MA Medicare plans for 2016 that do not require an additional monthly premium, but these will be increasingly rare.
These are some other things to consider about MA Medicare Advantage plans for 2016:
Supplemental Medicare Advantage Plans for 2016
One thing that people like about Medicare supplement plans is that they don’t tend to change from year to year. They are all standardized and offer beneficiaries very predictable benefits. While almost a third of beneficiaries choose Advantage Medicare plans for 2016, about one in four decide to buy a supplement.
Even though supplements always have premiums and never come bundled with extra benefits, they also don’t rely on the HMO or PPO networks that are common with Advantage options. Many beneficiaries believe that this gives them more freedom to choose their own medical care. Also, some supplement plan levels offer a very broad range of benefits, so they greatly reduce or even eliminate the chance of high out-of-pocket costs, and this is something that most Advantage Medicare plans for 2016 won’t do.
As mentioned before, these plans are all standardized and the levels are the same in 47 out of the 50 states. The exceptions are Wisconsin, Massachusetts, and Minnesota. This page on the official Medicare website outlines all the levels.
This is a quick overview of the most popular supplement levels:
Even though plans F and C are usually the most expensive options, they are the most popular. It may be that supplement buyers care more about managing health costs than paying a greater premium. Whenever people buy Medicare insurance or any kind of health insurance, they have to balance premiums against the plan’s ability to limit the risk of having high out-of-pocket costs.
Which Medicare Advantage Plan is Best for You?
When shopping for a great Medicare Advantage Plan, it’s important to start by shopping by state. Here are a few states to get you started:
In 2016 and beyond, Medicare beneficiaries should continue to have a lot of choices when they want to maximize their valuable medical benefits. In order to help as many people as possible find the best choice, we have provided simple and online Medicare health insurance quotes. We work hard to help as many Medicare beneficiaries as possible find affordable coverage from a top health insurance company!