Medicarebob

FAQ Friday: The Downsides of Medicare Advantage Plans

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Sinopsis

   I want to start this post by saying that I do not think Medicare Advantage plans (Medicare Part C) are bad. There are many Medicare Advantage plans out there that are very good plans and it really depends on the person’s situation and their needs on whether or not a Medicare Advantage plan is a good choice for them or not. My goal is not to bash Medicare Advantage plans but to educate. Unfortunately, it is all to common that agents will sell a Medicare Advantage plan to someone without fully giving them all of the information and the full effect of their choice.  Let’s start by explaining what a Medicare Advantage plan (Medicare Part C) is and how it works. A Medicare Advantage plan is a private alternative to Medicare. Medicare pays these carriers such as Aetna Coventry, Cigna Healthspring, United Healthcare, Humana etc. to provide seniors their benefits more affordably than they can provide them. Medicare then regulates these carriers to ensure that they are doing their job and they are do