Flower Mound Medicare Advantage

Flower Mound Medicare Advantage

Ashford Insurance is an independent insurance brokerage that specializes in Flower Mound Medicare products. We represent many carriers in Texas and help Medicare beneficiaries find and enroll in the most cost-effective plans. We also service those policies for life. Our clients have free access to our client service team to help them with any questions or Medicare issues.

What is Medicare Advantage?

Medicare Advantage is a type of Medicare health plan that combines your Part A and Part B coverage into one plan. Medicare Advantage plans are offered by private companies that have been approved by Medicare. Medicare pays these companies to provide your Medicare benefits.

Types of Medicare Advantage plans

There are several types of Medicare Advantage plans, including:

• Health Maintenance Organizations (HMOs): With an HMO, you must choose a doctor within the plan’s network. You can only see doctors, hospitals, and other health care providers in the network, except in an emergency.
• Preferred Provider Organizations (PPOs): With a PPO, you can see doctors, hospitals, and other health care providers in or out of the plan’s network. However, you may pay more for out-of-network care.
• Private Fee-for-Service (PFFS) plans: PFFS plans are similar to Original Medicare in that you can see any doctor, hospital, or other health care provider who accepts the plan. However, PFFS plans may have different rules about how much you pay for care.
• Special Needs Plans (SNPs): SNPs are designed for people with specific health needs, such as those with chronic conditions or those who live in a nursing home.
• HMO Point-of-Service (HMO-POS) plans: HMO-POS plans are similar to HMOs, but they allow you to see doctors and other health care providers out of network for a higher cost.
• Medical Savings Account (MSA) plans: MSA plans combine a high-deductible health plan with a bank savings account. You can use the money in your savings account to pay for your health care costs, including deductibles, copayments, and coinsurance.

Who can enroll in Medicare Advantage?

To be eligible to enroll in a Medicare Advantage plan, you must:

• Have both Medicare Parts A and B
• Live in the plan’s service area
• Not have End-Stage Renal Disease (permanent kidney failure)

How do I enroll in a Medicare Advantage plan?

You can enroll in a Medicare Advantage plan during your Initial Enrollment Period (IEP), which begins three months before you turn 65 and ends three months after you turn 65. You can also enroll in a Medicare Advantage plan during the Annual Election Period (AEP), which runs from October 15 to December 7 each year.

If you miss your IEP or AEP, you may still be able to enroll in a Medicare Advantage plan during a Special Enrollment Period (SEP). A SEP can be triggered by certain life events, such as moving, losing your job, or getting divorced.

What are the benefits of Medicare Advantage?

Medicare Advantage plans can offer a variety of benefits that Original Medicare does not, such as:

• Lower out-of-pocket costs: Medicare Advantage plans often have lower out-of-pocket costs for things like copays, deductibles, and coinsurance.
• Extra benefits: Medicare Advantage plans can offer extra benefits that Original Medicare does not, such as dental, vision, and hearing coverage.
• One-stop shopping: Medicare Advantage plans can make it easier to manage your health care because they provide all of your Medicare benefits in one plan.

What are the drawbacks of Medicare Advantage?

There are a few drawbacks to Medicare Advantage plans that you should consider before enrolling:

• Limited choice of doctors and hospitals: Some Medicare Advantage plans have limited networks of doctors and hospitals. This means that you may not be able to see your preferred doctor or go to your preferred hospital.
• Prescription drug coverage: Not all Medicare Advantage plans include prescription drug coverage. If you need prescription drug coverage, make sure to choose a plan that includes it.
• Switching plans: If you are not happy with your Medicare Advantage plan, you may not be able to switch to a different plan during the Annual Election Period. You may have to wait until you qualify for a Special Enrollment Period.

If you are considering enrolling in a Medicare Advantage plan, it is important to compare plans carefully to find the best plan for your needs. You can compare plans using the Medicare Plan Finder tool on the Medicare website.