Minnesota Medicare Advantage Plans
In the State of Minnesota, there is a Medicare Advantage plan known as Medicare Part C. Medicare Part C acts as an alternative way to get Original Medicare, both Part A and Part B. A variety of insurance companies form contracts with Medicare, so that they can offer these plans. In those contracts, the insurance companies are required to provide coverage at least at the same level as Original Medicare. Beyond that, insurance companies can offer even more benefits than you could get through Original Medicare. These benefits can include but are not limited to, dental, vision, hearing, or prescription drug coverage.
If you are looking for a program that offers prescription drug coverage, you will get a plan that covers the benefits you would get with Medicare Part A, Part B, and Part D. When you are looking for one of these plans, make sure that you look at the formulary (the list of prescriptions coved by the plan) to make sure your medication is covered because not all policies cover all medications. These lists can change over time, but if that ever happens, the insurance company is required to notify you before so you can be prepared and switch plans if need be.
Types of Medicare Advantage Plans in Minnesota (MN)
In Minnesota, the are a variety of Medicare Part C plans that you can get depending on where you live in the state. Below you will find an explanation of some of the most popular:
Health Maintenance Organization Plans
These plans, also known as HMO plans, are probably the most popular managed care plans. When you sign up for the plan, you will receive a network of providers. If you want coverage, you can only use those providers, but there is an exception for emergencies. You must also choose a primary care physician off of this list, and if you ever need a specialist, you must get a primary care referral first.
Preferred Provider Organization Plans
The PPO plans give people much more flexibility when compared to HMO plans. You will typically receive a list of preferred providers, but you can use any provider for a slightly elevated cost. You also are not required a primary care doctor and will be covered if you see a specialist without a referral. This plan is perfect for people looking for a little more flexibility or if you do not want a primary care specialist.
Special Needs Plans
You only can get an SNP plan if you meet specific criteria set by the insurance company. These criteria generally have to do with chronic conditions, living in an institution, or dual eligibility. Once you prove that you meet these special criteria, you can sign up for the plan, which probably will have special benefits due to your special needs.
Medicare Savings Account
MSA plans combine medical savings accounts with high-deductible plans. The insurance company will deposit money that you can use to pay for Medicare expenses until you meet your yearly deductible, which tends to be higher than other plans on this list.
If you are currently looking for a Medicare Advantage plan in Minnesota, it is worth comparing multiple different plans to figure out what works best for you. Start by looking for what plans are offered in your area and then narrow it down based on the benefits you are looking for.