Medicare Advantage offers additional savings for seniors

BY KATHY DIXON

Enrollment in Medicare Advantage plans has topped 30 million, and for good reason.

In addition to traditional health, dental and vision insurance, the plans often include prescription drug programs, gym memberships and even grocery benefits, in some cases.

The additional options that are built into various Medicare Advantage plans make them attractive, noted Chuck Sowers, senior account executive for Virginia Farm Bureau Healthcare Consultants. “I’ve begun to see a huge shift in people enrolling in Medicare Advantage plans.”

According to the Centers for Medicare and Medicaid Services, nearly half of all Medicare beneficiaries are now enrolled in Medicare Advantage plans.

The plans also are known as Medicare Part C and are managed by private health insurance carriers that are approved by Medicare. These plans include Medicare Part A, which covers inpatient hospital stays, nursing home care, hospice care and home health care. They also include Part B, which covers preventive services and medically necessary services needed to diagnose or treat a medical condition. Most Medicare Advantage plans also include Part D prescription coverage.

“The thing about Medicare Advantage plans is that some plans have a zero-dollar premium, and many of them have a built-in prescription drug plan,” Sowers noted. According to CMS, the average cost of a Medicare Advantage plan in 2022 was $19.52 per month.

Sowers explained that MA plans are similar to marketplace and group plans in that most people are accustomed to making co-payments and co-insurance to meet deductibles and out-of-pocket maximums. Medicare Advantage plans offer HMOs or PPOs, and participants are required to provide a co-pay when they go to the doctor.

A plan may provide benefits for a person’s overall well-being, like fitness programs, meal delivery services and medical transportation.

For example, some Medicare Advantage plans offer a SilverSneakers® health and fitness program designed for adults 65 and older. Through the program, adults can go to gyms, take online classes or download a digital app for free workouts on their phones. Studies show that physical activity helps keep people’s heart, brain, bones, muscles and joints healthy.

Healthy foods also contribute to overall well-being, and some Medicare Advantage plans offer the Grocery Plus Benefit, which offers a quarterly grocery allowance. This allows recipients to buy a variety of healthy foods at participating grocery stores. Additionally, some Medicare Advantage plans offer food delivery programs.

For more information, contact your local Farm Bureau office or call 800-229-7779. To learn about Medicare seminars offered by Virginia Farm Bureau’s Health Insurance division, see page 30.