Original Medicare is provided to American people who are 65 years or older. Many people remain stuck with the Original Medicare and do not know about another Medicare option which is Medicare Advantage Plan or Part c plans. Medicare Advantage plans are offered to the people who are eligible for Medicare by private insurance companies which provide you with Health Maintenance Organization or Preferred Provider Organization plans for healthcare needs. Although we have seen that Medicare Advantage plans have received success over the years, but these plans also vary each year. Following are some of the changes made to Medicare Advantage plans in 2019:
Number of health insurance Advantage plans
Medicare Advantage plans are provided only in the certain places and in limited quantities due to which a lot of people miss this opportunity. In 2019, the number of available health insurance Advantage plans in whole country saw an increase of about three percent than 2015 due to which average number of plans per person increased to nineteen but in the non-metropolitan areas this figure decreased to eleven, but still it was greater than 2015 figures.
Prescription drug coverage plan premiums
When you look at results or analysis of 2019 Medicare Advantage scheme you will see that health insurance Advantage plan’s average monthly premium has decreased to some extent, but this decline has been observed in less popular Preferred Provider Organization which are expensive but very few people enroll in them. So what are the variations of Medicare Advantage plans 2019?
Out-of-pocket costs limits
Health insurance Advantage schemes have a lot of characteristics, and one of them is limit on out-of-pocket costs of hospitalization and other medical facilities. Out-of-pocket maximum for year 2019 was set at $6,700, but you can find many such schemes which offer much fewer maximums. But it might hurt many that numbers of those schemes which offer fewer maximums on out-of-pocket costs have decreased in past few years.
Rise in deductibles
It is no secret that most of the health insurance schemes charge deductibles for prescription drug coverage. In, 2019 it has seen quite a rise because during 2010 almost ninety percent schemes had zero deductible whereas this percentage dropped to fifty-five percent and almost sixteen percent of scheme charged a deductible of $360 Furthermore, the average deductible for the year 2019 was $118 which was $90 during 2015.
After analyzing above-mentioned information one can clearly see that how much importance these schemes have in providing comfort to seniors and retirees.