Once you reach the eligible age for Medicare, you must take time to familiarize yourself with the options available so that you can make a confident decision. What some seniors are familiar with is the standard Medicare plan, which included both medical insurance as well as hospital insurance. However, in recent years, there has been the advent of Medicare Advantage plans, which are typically provided by private insurance companies.

While standard Medicare does come with several perks, you should know that different people find Medicare Advantage plans more beneficial to their needs depending on their situation. Therefore, before you make a concrete decision, it is in your best interests to know what to expect. Keep reading for a few of the fundamentals of Medicare advantage that you should know about.

Which type of Medicare Advantage plan will be ideal for your needs?

The first thing that you should know about Medicare Advantage is that this option comes with an array of plans. Hence, it is typically considered versatile enough to accommodate the vast array of needs that different individuals would have. For instance, if you would rather have a Preferred Provider Organization (PPO) plan so that you have greater flexibility in selecting your doctors, you can choose this option.

On the other, if you would want a Health Maintenance Organization (HMO) plan for the reduced monthly premiums, you could choose this solution. It is best to consult with a Medicare advisor who can help you determine which Medicare Advantage plan will be best suited to your current needs.

Which services are covered by Medicare Advantage?

The second thing that you should know when it comes to Medicare Advantage is that it will cover the same range of services that fall under standard Medicare, but it does have the exception of hospice care. However, this does not mean that there are no additional perks that you cannot enjoy. One of the leading reasons why more and more seniors are choosing Medicare Advantage plans is to make the most of the free prescription medications.

Further benefits that you stand to reap depending on the Medicare Advantage plan that you choose include dental coverage, vision coverage, wellness programs, and so on. Take note you may also find that some Medicare Advantage plans will offer different coverages that would all be beneficial to you. To ensure you select the best option, it is advisable to seek the services of a Medicare advisor.