The very best Medicare Advantage plans get selected as 5-star plans. We are going to look at the Medicare Advantage 5-star plans for 2019 and how the lineup changes from year to year.
The plans are selected by looking at a number of criteria, and it’s up to Medicare to decide which plans go on that list. They base their decision on patient feedback, reports from doctors and other sources of information. The plans are put on this list for the benefit of consumers, so that they can know which plans may hold the most value for them.
Plans are chosen for the 5-star list based on how well they cover individuals, how affordable they are and the overall quality of the plans.
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How the List Changes
The lineup of 5-star plans does not stay the same from year to year. In fact, Medicare evaluates its plan each year to determine which ones deserve inclusion on the 5-star list and which ones need to be removed from that list. The lineup changes up all the time, as new plans are added to the list and some of the older ones become less relevant. The plans that perform poorly from one year to the next may even be completely dropped by Medicare. They practice a lot of quality control for their customers to ensure that they are getting adequate coverage at a decent price.
The plans that are on the 2019 list may stay more or less where they are by this time next year, or the list could completely change. Medicare will base its decision to keep plans on the list and remove them by listening to their customers and the doctors who have firsthand experience with these plans and how well they cover patients.
What Medicare Advantage Plans Cover
The 5-star plans are only a small portion of the overall Medics Advantage plan picture. There are lots of Advantage plans, and while they all hold the same basic coverage, they can differ in a lot of ways. The rates and overall coverage changes, and they are sold by many different insurance companies. Insurance companies can offer additional benefits beyond medical coverage to those who sign up for their plans, incentivizing consumers to sign up with them over their competition.
The standard and basic Medicare Advantage plan will always include coverage for Medicare Part A and Medicare Part B. This is what is known as Original Medicare, and it is included in all Medicare Advantage plans. However, Medicare Advantage does not just copy Original Medicare. The basic plan will also cover you for emergency medical care, such as your treatment in the emergency room, which is not covered under Original Medicare. In top of that, it covers you for urgently needed medical treatment, which covers a whole list of items, but is generally defined as lifesaving care.
That’s just the standard coverage, and many Medicare Advantage plans cover you for a whole lot more. They may cover you for Medicare part D, which is able to take care of a lot of prescription drug expenses for you. They can also cover you for checkups and other regular expenses you may have through the year.
Advantage Plans go under the name Medicare Part C, and they all share some common attributes and coverage, but there is a lot of diversity among these plans as well. They are not all going to cover you for tons of expenses, and they are not all very costly plans. Medicare takes the very best of these and sorts them into the 5-star list to help you quickly and easily decide which plan might be right for you.
How to Choose a Medicare Advantage Plan
You may very well find some Medicare Advantage 5-star plans for 2019 that works perfectly for you. On the other hand, you may take a look at those plans included on this list and decide that none of them are quite right for you. Some other may be too high coverage others may be too low coverage for your needs. Some may be too expensive as well, and you need to look closely at what these plans offer and how they may fit you before you make a quick decision. This is not something you want to rush into. After all, once you sign up for one of these plans, you are stuck with it for the next year.
Keep in mind that the 2019 plans are already in effect, and if you did not sign up for them already, then you probably won’t be able to transfer your coverage into one of these. However, you can plan ahead for one of the 2019 plans.
There are other plans besides the 5-star plans that could be good choices for you, though. Just because a plan is highly rated, that does not mean it is the best those for you or even a good choice. You need to choose a plan based on your needs.
You’ll have to look at what kind of coverage you are receiving now and how much you pay out of pocket for medical expenses. Then compare that to what the Medicare Advantage plans are offering. Do any of them cover you appropriately and fit your budget? You will have to factor in the cost of this plans, and you want to get a good deal and sign up for the most appropriate plan.
You can find many similar plans with nearly identical coverage that have vastly different prices. The prices are set by the insurance companies, and those rates can change from year to year and from location to location. So, you may pay more in one area of the country than you would in another for the same plan.
Consider the Provider’s Network
All Medicare Advantage plans provide coverage based on the network of the insurance company that sells them. Each of this companies have their own network consisting of all the clinics, hospitals, and other medical facilities that have agreed to accept their insurance coverage plans. If you go outside the network for coverage (visiting a medical facility that has not accepted their plans), then you may not get any coverage whatsoever.
How much coverage you get depends on what kind of network option you went with. There are two primary ones that most insurance companies offer, and while they may offer more than these, most people won’t be eligible for much more. They are HMO and PPO plans.