(Newswire.net — August 15, 2019) — First of all, Medicare Advantage plans are basically regulated through the centres for Medicare and Medicaid Services. While talking in terms of Medicare cover services the beneficiaries received from any healthcare facility or any doctor who accepts Medicare. On the other hand, the Medicare advantage plans give their members a specific network of providers which are the medical units such as hospitals or a set of physicians from which they are going to receive the services. So basically, the original Medicare profiles help for the total cost for every unit who never accepts it, and the advantage plan is basically providing the same type of guideline with a network of its own that is going to operate through its own cause only.
Are medicare Advantage premiums tax deductible if they are considered qualified medical expenses, but it’s important to consult with a tax advisor to determine eligibility based on individual circumstances.
Now for a quick comparison between original Medicare and Medicare advantage
The first difference between these two is coming up on your costs list. When you are choosing the original Medicare back then you are getting the premiums and deductibles and also the co-payment or even the co-insurance set that are already fixated by Medicare through the government’s ordinance. On the other hand, talking about getting a Medicare advantage plan along with all the other benefits of the original Medicare, you are going to get a huge boost in managing your total cost. As far as Medicare goes, you have to take the total payment table which is already set by Medicare authorization. But when you are taking the Medicare advantage plan, then you can choose your specific plan and every plan has its own set of total cost management so that you can easily browse through plans and find what is the best cost management for you.
The second difference is that, while the original Medicare plans do not cover the cost of prescription drugs, the advantage plan provides more of a friendly hand towards the beneficiaries. Usually, in a Medicare Advantage plan, it is pretty much unlike the original Medicare where the beneficiary must purchase a separate part D plan. The advantage plan allows the beneficiaries to have a better situation while handling the prescription drug cost.
The third big thing is, the original Medicare does not provide for any of the extra benefits, for example, anything for dental care, vision care or even some fitness issues. The advantage of Medicare plans regarding this type of extra benefits is that they are covered, included and distributed among many affordable and suitable plans that are going to be helpful towards the beneficiaries and taking the specific need into consideration.
Some further clarification
AS you probably noticed, the differences between the original and the advantage plan are not always quite straight forward. Choosing the correct plan for your cause is an entirely personal decision which should be based on your unique health condition and personal budget.