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Medicare Advantage Plans in Nevada
Learn about Medicare Advantage plans in Nevada
If you're a Nevada resident with Medicare, you may be wondering about your different coverage options. One option is Original Medicare, Part A and Part B, which is the federally administered program. Another option is enrolling in a Medicare Advantage plan as an alternative to Original Medicare coverage.
Medicare Advantage plans are offered through private insurance companies that are approved by Medicare. Also known as Medicare Part C, Medicare Advantage plans must cover at least the same level of benefits as Medicare Part A and Part B. Some plans may offer other benefits not covered by Original Medicare, such as routine dental or vision, hearing, wellness programs, or prescription drugs.
There are several different types of Medicare Advantage plans, and not every plan type may be available in your service area. Some of the most popular types include:
Health Maintenance Organization (HMO): This type of Medicare Advantage plan requires beneficiaries to use in-network providers to be covered (with the exception of emergency or urgent care). You'll need to have a primary care doctor who will provide most of your care; if you need to see a specialist, you'll need to get a referral from your primary care physician first.
Preferred Provider Organization (PPO): This type of Medicare Advantage plan offers more provider flexibility. Your costs will be lower if you use doctors and hospitals from the plan's preferred provider network; however, you can also use non-network doctors and pay higher copayments. You don't need referrals for specialist care.
Medicare Savings Account (MSA): This type of Medicare Advantage plan combines a high-deductible health plan with a medical savings account. Your Medicare Savings Account plan will deposit money into your medical savings account every year; you can use this money to pay for covered medical expenses before you reach your deductible.
Private Fee-for-Service (PFFS): This type of plan doesn't always have a provider network; instead, you can use any provider that will accept the plan's terms and conditions and agree to treat you. Some PFFS plans may have networks. Keep in mind that if there's no plan network, you'll need to find providers who will contract with the Private Fee-for-Service plan on a case-by-case basis.
Special Needs Plans (SNP): This type of Medicare Advantage plan limits enrollment to people who meet certain eligibility criteria. There are three types of Special Needs Plans that target different groups of beneficiaries, including those who live in an institution, have certain chronic conditions, or have both Medicare and Medicaid. These plans tailor benefits to meet the specific, unique needs of its members.
Medicare Advantage Prescription Drug plans in Nevada
One unique difference that sets Medicare Advantage plans apart from Original Medicare is that you can get prescription drug coverage (Medicare Part D) included in the same plan. Unlike Original Medicare, where you must enroll in a stand-alone Medicare Prescription Drug Plan to get this coverage, you have the convenience of having your Medicare Part A, Part B, and Part D coverage all under a single plan.
Also known as Medicare Advantage Prescription Drug plans, each Medicare Advantage plan covers different prescription medications and may have different costs. If you're not sure whether a specific Medicare Advantage plan covers your medications, check the formulary. This is a list of the prescription drugs covered by the plan. The formulary may change at any time. You will receive notice from your plan when necessary.
Not every Medicare Advantage plan is a Medicare Advantage Prescription Drug plan, so double-check with any plan you're considering. Also, keep in mind that if you have Medicare Part C and want prescription drug coverage, you should get it through a Medicare Advantage plan that includes prescription drug coverage, not a stand-alone Medicare Prescription Drug Plan. If you're already enrolled in a Medicare Advantage Prescription Drug plan and subsequently enroll in a Medicare Prescription Drug Plan, you'll be automatically disenrolled from your Medicare Advantage plan and reverted back to Original Medicare.
How to compare Medicare Advantage plans in Nevada
It is vital that you compare all available Medicare plan options before you choose a Medicare Advantage plan in Nevada. The availability and costs of Medicare Advantage plan options may differ depending on your county of residence. You may find that a Medicare Advantage plan option with identical benefits and coverage may be priced differently from one county to another in Nevada. Some counties may offer Medicare Advantage plans with monthly premiums as low as $0. However, even if your service area offers a Medicare Advantage plan with a $0 premium, remember that you may still have cost-sharing expenses and you'll need to keep paying your Part B premium.
Do you have any questions about your Medicare plan options in Nevada? An eHealth licensed insurance agent would be happy to help you find personalized solutions for your Medicare needs.