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Medicare Advantage Plans in Wyoming
How Medicare Advantage plans work in Wyoming
The Medicare Advantage program is an alternative to Original Medicare (Medicare Part A and Part B) , offered by private insurance companies. When you sign up for Medicare Advantage, you pay premiums to the private insurance company you've chosen, and receive your hospital and medical coverage from them. However, you'll still need to continue paying the Medicare Part B monthly premium on top of whatever your Medicare Advantage plan costs.
At a minimum, private insurance companies must guarantee that their Medicare Advantage plans cover the same benefits as Original Medicare, but those companies may go beyond the standard coverage and offer plans with additional benefits such as routine vision, dental, and prescription drug coverage.
About Medicare Advantage plans in Wyoming
The Medicare Advantage market is relatively small compared to other states. In 2012, a little over 3,000 residents (roughly 5% of the population) had one of these plans.
Six companies sell Medicare Advantage plans in Wyoming, so there are several options to choose from.
Medicare rates plans for quality on a scale of 1 to 5. The average rating for Medicare Advantage plans in Wyoming was 3.50.
Medicare Advantage Prescription Drug plans in Wyoming
One way Medicare Advantage plans can be different from Original Medicare is through the inclusion of prescription drug coverage. Original Medicare only covers prescriptions in certain circumstances, so many beneficiaries purchase a stand-alone Prescription Drug Plan (PDP) to receive the Medicare Part D drug benefit . But, you opt for Medicare Advantage, you can often find a plan that already has prescription drug coverage bundled in.
Comparing Medicare Advantage plans in Wyoming
The Medicare Advantage market offers a variety of plans. It can be a good idea to check the benefit structure of each one to see if the mix of premium and copayment costs fits with both your budget and coverage needs. Lower premium plans tend to have higher copayments, whereas higher premium plans may give you more coverage at the time you use your benefits.
Medicare Advantage Prescription Drug plans have something called a drug formulary. This document lists all the medications covered by the plan. You may want to check in advance if the plan you prefer covers your prescriptions. Finally, after signing up for a plan you may still want to keep an eye on the Medicare Advantage market in Wyoming, as plans and benefit levels can change over time.
Data provided by the Kaiser Family Foundation.