Part C

Medicare Advantage

Medicare Advantage Plans are offered through private insurance companies contracted with Medicare and are an optional election. Some coverage options include: 

– Copays and/or coinsurance for doctor visits, outpatient services, and hospital stays.
– Built-in prescription drugs coverage (in most cases). 
– Preventive and/or comprehensive dental, hearing, and vision benefits.
– A network of providers to choose from (not all providers participate)

Health Maintenance organization (HMO- state based networks)
** Preferred Provider Organization (PPO- national network)
** Private Fee-for-Service

– No medical underwriting
– Most private insurance providers offer plans for beneficiaries with special needs, chronic conditions, and individuals needing additional financial assistance.

Out-of-Pocket Costs and Premiums will vary by plan and service area.

MediGap/ Medicare Supplement

MediGap policies help pay some of the health care costs that original Medicare (Parts A & B) doesn’t cover. Examples of those are deductibles, copayments, coinsurance. Beneficiaries must be enrolled in Part A & B to elect a mediGap plan. MediGap palns are also sold by private insurance companies. Some coverage options include:
– Foreign travel emergency services
– Provider acceptance is not restricted by private insurance companies relationships
– Household Premium Discounts may apply
– Drug coverage is not included- a stand-alone PDP should be elected
– Does not cover long-term care, vision or dental care, hearing aids, glasses or private nurses

Out-of-Pocket Costs and Premiums will vary by supplemental plan choice. Beneficiaries will pay more in premium to incur less out of pocket costs.

Virginia Asset Group Financial Services, is a licensed and certified representative of Medicare Advantage [HMO, PPO AND PPFS] organizations [and stand-alone prescription drug plans] with a Medicare contract. Enrollment in any plan depends on contract renewal.