The Medicare Advantage Plans are offered by insurance companies as an alternate health plan to the traditional Medicare plan. The premium rates have been lowered by one percent in 2011 according to the Centers for Medicare and Medicaid Services. As a result, the enrollment for Medicare Advantage Plan has increased by 5 percent. Almost 11 million people have enrolled in this plan and that includes people from Idaho as well.
There have been complaints about the costs and high charge that the government would set up against the beneficiaries and as a result there has been projected expansion and lowering of costs by the companies associated with the plan as per the new consumer protection laws. The improvement has led to many low income groups to opt for this plan.
This has also benefitted the insurance companies whose share values have increased due to the increase in demand. The advantage plan remains the same. There has been only a marginal boost for those who already have Medicare and for those who have enrolled recently. The 2011 Medicare Advantage plan was passed through the healthcare reform law that sought to change lifetime coverage as well as forbidding policy cancellations when an enrollee got sick. The Medicare Advantage will now see that the expenses that are to be paid by the consumers are limited and reduced so that the shared costs increase for such services like chemotherapy, kidney dialysis and other such intensive care. There will also be greater discounts offered for prescription drugs that were sold separately or as part of the Part D plan.
Part of the improvement also involves 50 percent discount from all drug companies and hence the gap that had initially stayed between Medicaid and Medicare is now removed. Most of the beneficiaries have to select a new Medicare advantage plan due to this.
The eligibility for the Medicare Advantage Plan, however, remains the same. They are as follows:
Medicare Advantage Plans provide the benefits that are not part of the Part A and C plan of Medicare.