Medicare Advantage plans are privatized health insurance plans available to individuals who have Medicare Parts A & B.
Under Medicare Advantage Plans, Part A (Hospital), Part B (Medical), & often Part D (Drug) are covered under a private health plan in place of original Medicare.
These plans often carry lower monthly premiums with higher out of pocket expenses and copays.
Benefits vary by plan and change from year to year but must be approved by the Center for Medicare & Medicaid Services.
MEDICARE ADVANTAGE
Common Medicare Advantage Plan types:
Health Maintenance Organization (HMO)
-Must use contracted network providers except in cases of Emergency care, Out-of-area urgent care, out-of-area dialysis!
Your primary care doctor (PCP) helps you coordinate your healthcare with specialists and referrals.
HMO Point of Service
(HMO-POS)
In some cases you may be able to go out of network for certain services but costs are lower if you stay in network for those services.
Preferred Provider Organizations (PPO)
PPO plans have networks of healthcare providers available but you may choose to select a provider out of network at a higher cost and you may see specialists without a referral.
Private Fee For Service
(PFFS)
Under this plan type, the plan determines how much it will pay and how much you must pay when you receive healthcare services. Referrals generally aren't required to see specialists but you must make sure your healthcare providers are willing to take your plan prior to receiving services.
Special Needs Plans
These plans are designed for certain populations of individuals who have chronic health conditions (CSNP), are eligible for or are already recieving financial assistance (DSNP), or institutionalized individuals (ISNP).
We work with the following companies as an independent broker: Aetna Inc., Anthem Inc., Cigna, Humana Inc., United Healthcare, and Wellcare Health Plans, Inc.
Not all plans offer all these benefits. Benefits may vary by carrier and location. Limitations, exclusions, copays, deductibles,and coinsurance may apply.
A non-government entity powered by Innovative Financial Partners, LLC, a health insurance agency. Extra benefits
require enrollment in an MA plan and depend on whether you are eligible to enroll in an MA plan in your area. Benefits are
available only in select areas.
Innovative Financial Group represents Medicare Advantage [HMO, PPO, PFFS, and PDP] organizations that have a Medicare contract. Enrollment depends on the plan’s contract renewal. We do not offer every plan available in your area.
Currently we represent 6 carrier organizations which offer 2,352 products in your area. Please contact Medicare.gov, 1-800-MEDICARE, or your local State Health Insurance Program (SHIP) to get information on all of your options.
Some benefits mentioned are a part of a special supplemental program for the chronically ill. Not all members qualify.