Why Medicare Advantage Plans Are Bad 2020
Just as there are many reasons to choose a Medicare Advantage plan, there are also many reasons why you should not. We want to tell you about some of the negative things about these plans and why Medicare Advantage plans are bad for 2020 for you.
We don’t know your situation, either financially or medically, so we cannot say that Medicare Advantage is a poor choice for you. However, we can warn you about the different reasons why some seniors should not sign up for a Medicare Advantage plan.
They Can Be Costly
Medicare Advantage plans are often priced competitively, but not always. They are the highest coverage medical plans that most people can sign up for, so you ought to expect a hefty price tag. Even with those that offer $0 monthly premiums, there is a large deductible to pay before you can even receive any coverage from your plan.
You can check the rates here on our site and see where they stand. We will provide you with a list of plans and rates for any Advantage plan you search for. These rates are going to be relevant to you since they are based on where you live and the prices that are being charged in that area. You’ll find that Advantage plans are going to cost about $140 per month on average. We don’t know if that is more or less than you are paying now for medical coverage, but you should also factor in how much you are paying for out of pocket. It’s possible that the Advantage plan will take care of many of your out-of-pocket costs.
They May Cover Too Much
As a high coverage plan, Medicare Advantage policies are going be a bit much for some people. We’re not just talking about the cost here. We are referring to how many different medical expenses they provide coverage for. In some cases, that will simply be too much coverage, even when you are just talking about the lower coverage, basic Medicare Advantage plan. Advantage plans are meant to be for seniors who have a lot of needs, and if you are in fairly good health, there is a good chance that they are simply not for you. There are plenty of other choices, though, so don’t go thinking that you will have to go without coverage if you choose to turn down Medicare Advantage. You can pick form Medigap, Medicare Part D and even basic Medicare plans rather than signing up with Medicare Advantage.
The number one reason why we would advise a senior to not get an Advantage plan is because the coverage just isn’t the right fit for them. It may be that the plan covers too many items or that it covers items that are not really relevant to the individual. You have to choose a coverage plan that meets your specific needs, and there is no guarantee that Medicare Advantage will be able to do that.
The Limited Network Coverage
One thing that sets Medicare Advantage plans apart from other Medicare plans is the network it operates on and how that limits the plans. If you are looking for a reason as to why Medicare Advantage plans are bad for 2020, then you don’t need to look any farther than the network restrictions.
What this means is that there will be medical facilities that are not a part of your insurer’s network. These places may offer healthcare, but they will not honor your plan in full since your insurer doesn’t have an agreement with them. No matter which insurance company you decide to buy your Medicare Advantage plan from, there will always be medical treatment facilities like clinics and hospitals where the plan is not valid and will not be honored.
You do have some options to help out with this problem, though, and that is definitely an upside to Medicare Advantage. A lot of insurers will offer what is known as PPO Medicare Advantage plan. This will cover you both on and off of the network, with full coverage inside the network and partial coverage while you are outside the network.
You can also go with a simple HMO Advantage plan, which is going to cover you only on the network, but the coverage it provides you with there is full coverage.
Is Medicare Advantage Really All Bad?
Now, we have told you about the negatives of Medicare Advantage, but you can see that there are also some good things about this kind of healthcare insurance policy. How beneficial this plan is for you or how poor of a choice it would be are wholly dependent on what your needs are and how well the plans meet those needs. Your situation determines how right of a fit Medicare Advantage will be for you. For some people, it is a great plan, saving them money and making their healthcare affordable. For others, it is an overpriced plan with too much coverage and a poor fit for where they are in their lives right now.
If you have questions about Medicare Advantage, then feel free to send those our way. We would be happy to consult with you, and this service comes free of charge and doesn’t come with any obligation attached to it. You can also use our site free of charge and source prices as often as you need to in order to find the right plan at the right price. We will give you a list of plans, and you can see from there if Medicare Advantage is affordable for you or not.
Before you ask why Medicare Advantage plans are bad for 2020, you should first look at what your needs are. Advantage plans could be very good for you, keeping your costs low and keeping you well covered. We hope this information helps you to make a choice that is more informed and confident.