You can get the benefits of your healthcare through two sources, from the Government and from any private organisation. If the government is paying you for your health benefits, you are having an Original Medicare and if any private company is doing so, you are having a Medicare Advantage Plan.
When one is having a Medicare Advantage Plan, the individual will be benefitted in both inpatient and outpatient care, total doctors’ services in a skilled nursing facility, medical supplies, home health and preventive services. In other words, Medicare Advantage plans for 2019 will cover services such as Preferred Provider Organizations (PPO), Health Maintenance Organizations (HMO), Special Needs Plans (SNPs), Medicare Medical Savings Account Plans (MSA) , and Private Fee-for-Service Plans (PFFS).
So, what are these different types of Medicare Advantage plans for 2019?
- Health Maintenance Organization or HMO plans: Most of the Health Maintenance Organization plans covers going to the doctor or other health care providers or hospital that are in the plan’s network. Cases of an emergency situation are different. Also, one may have to get a referral from the primary care doctor before going for a test or to a specialist.
- Preferred Provider Organization or PPO plans: In a Preferred Provider Organization plan the individual has to pay a less amount for taking the health benefits from doctors, hospitals and other healthcare services that are within the plan’s network. For services outside the network, you have to pay more.
- Private Fee-for-Service or PFFS plans: The Private Fee-for-Service plan is pretty much similar to the Original Medicare. One can visit any doctor, go to any health care provider or hospital. They must accept the payment terms of the plan. The PFFS plan will determine the amount the individual has to pay to the doctors, healthcare providers or hospitals and for obtaining the received care.
- Special Needs Plans or SNPs: Special Needs Plans are for a specific group of people. SNPs applies to people living in a nursing home for long or suffering from certain chronic medical conditions. SNPs is applicable to persons having both Medicare and Medicaid.
- HMO Point-of-Service or HMOPOS plans: HMO Point-of-Service plan generally offers a higher Co-payment or Coinsurance. In return, the applicant is allowed to use some facilities that are outside the network.
- Medical Savings Account or MSA plans: First of all, for a Medical Savings Account plan, the applicant needs a bank account and a high-deductible health plan. Money from the Medicare service will get deposited in the bank account which can later be used for paying for the health benefits got. MSA also covers the cost of Prescribed Drugs.