Sean Williams: 6 things you should know about Medicare Advantage plans

1. You'll have more coverage options - Arguably the greatest allure of Medicare Advantage plans is the amount of choice you have as the consumer
2. You'll probably have to get referrals to see a specialist - Your plan is covered by a private insurer, health-benefit providers can be a bit pickier about which doctors you see
3. There are annual out-of-pocket limits - In 2016, Medicare Advantage plans have annual out-of-pocket limits of $6,700
4. Your network will probably be smaller - MA plans typically contract with a smaller handful of physicians and hospitals, meaning that your choices are narrower
5. You still get Medicare coverage - With the exception of hospice care, MA plans are required to offer the same services as original Medicare Part A and Part B
6. The enrollment period is limited - There's a pretty narrow window during which to enroll in a Medicare Advantage plan each year

Source: The Motley Fool
Source URL: http://www.fool.com/retirement/2016/07/17/7-things-you-shoul...

Printer-friendly versionSend to friendmore...