How might one sign up for a Medicare Advantage plan that includes additional benefits not available through Original Medicare at minimal to no charge?
Understanding that a Medicare Advantage plan supplants your Original Medicare coverage is essential; it does not supplement Original Medicare as Medigap plans do. Two principal elements factor into how an insurance provider is compensated for covering a Medicare Advantage recipient. The initial and more minor component is the subscription fee you, as a participant, contribute. The more significant portion is sourced from the Centers for Medicare and Medicaid Services (CMS), the federal entity accountable for overseeing all of Medicare. As soon as a Medicare Beneficiary opts for a Medicare Advantage plan, CMS relinquishes any cost obligations for that individual’s care. To put it plainly, they consent to pay the Insurance Company a specified sum to manage the entirety of the person’s medical necessities. With the aim of maintaining member wellness and curbing expenses, Insurance Companies integrate services, which in turn allows them to extend the additional benefits observable in Medicare Advantage programs.
