The Importance of Medicare Options for America’s Seniors
(Mark Gibbons, President/CEO of RetireSafe) - With the start of Medicare’s open enrollment period, it’s important that older Americans explore their healthcare options to make the best choice for their unique needs.
Seniors eligible for Medicare benefits have the choice of enrolling in traditional Medicare (also known as fee-for-service) or selecting a plan from Medicare Advantage (MA), which provides coverage through private health plans approved by Medicare. In recent years MA plans—or Medicare Part C—have become increasingly preferred among beneficiaries.
“We’ve seen Medicare Advantage become a popular alternative to traditional Medicare among older Americans over the last several years. The flexibility and cost savings associated with MA make these plans an attractive choice,” notes Mark Gibbons, President and CEO of RetireSafe, a non-profit dedicated to educating and advocating on behalf of older Americans.
Compared to traditional Medicare, Medicare Advantage plans are typically associated with:
- Lower costs and greater predictability. Most MA plans offer lower out-of-pocket (OOP) costs, and all MA plans are required to cap the amount you spend on healthcare annually. On average, beneficiaries enrolled in MA plans save $2,500 per year on premiums and OOP costs.
- More coordinated and consistent access to care. Unlike traditional Medicare, where individuals pay separate monthly premiums for hospital visits, outpatient services, and prescription drugs, Medicare Advantage bundles these services into a single monthly premium. It’s why MA plans are better suited to offer coordinated care to patients, which is particularly important for those living with chronic conditions or seniors who see multiple healthcare providers.
- Coverage of supplemental benefits and prescription drugs. MA plans offer supplemental benefits such as vision, dental, hearing, telehealth, transportation, nutrition and wellness services. Additionally, while traditional Medicare requires beneficiaries to purchase a separate plan for prescription drug coverage, MA plans often cover prescriptions under the same plan.
Due to the cost, coverage, care, and accessibility benefits associated with Medicare Advantage, beneficiaries enrolled in MA plans report better health outcomes, on average, across a range of metrics. Those enrolled in MA are more likely to have a usual source of care and to report receiving routine healthcare screenings and preventive services,
Seniors should take the time to review their current coverage and consider whether Medicare Advantage might be right for their unique needs.
Get Top Stories Delivered Weekly
Recent The Critic News Articles
Discuss This Article
GET TOP STORIES DELIVERED WEEKLY
FOLLOW OUR NEWSPAPER
LATEST THE CRITIC NEWS
RECENT THE CRITIC CLASSIFIEDS
OUTSIDE THE LINES
- A Difficult Diagnosis Sparks Hope and Support for...
- Fall For Improved Vehicle Protection
- Six Ways To Save Money This Holiday Season
- BigFuture Resources Help Students Discover College,...
- Anheuser-Busch Celebrates American Growers on National...
- What You Should Know About Healthy Aging
- What We Don’t Know Can Hurt: New Survey Reveals K...
- Blood Donors Quietly Revolutionizing Sickle Cell Treatment
- What You Need To Know About Vaccines On World Polio Day...
- Oral Health And Cancer: A Guide On Prevention And...
FROM AROUND THE WEB
- 5 Tips to Pick the Right Dental Plan
- BookTrib’s Bites: Four Fascinating Fall Reads
- The U.S. Can Make the Most of AI in Robotics
- Have a Boo-tiful Halloween with Chilean Citrus
- 5 Ways to Transform Your Kitchen and Bath with the Look...
- Many American Women Feel Financial Stress
- BookTrib’s Bites: Four Captivating Fall Reads
- The Importance of Medicare Options for America’s Seniors
- How Artificial Intelligence Will Evolve
- Blue Star Families Spotlights Military Mental Health for...