Medicare Advantage plans provide exceptional medical coverage for a variety of expenses, expanding on the coverage offered by the basic Medicare plan. These are plans that are quickly overtaking Medicare Supplements as the additional coverage plan of choice for seniors, and Mutual of Omaha Medicare Advantage plans for 2019 are the newest set of plans to pick from.
What Mutual of Omaha Is Offering
The insurance company Mutual of Omaha has offered Medicare Supplements for years now, but they are starting to change their focus, as they see their customers shifting from buying the Supplement plans for Medicare Advantage options. Mutual of Omaha has been in the insurance business for decades, but they are partnering with Lumeris Inc. to offer a set of Advantage plans.
Their plans will have to compete with others on the market from a variety of insurance providers. The basic plans are all similar, but Mutual of Omaha is adding on their own additional coverage to some of their plans to give their customers some variety and make their plans more appealing than their competitors’.
The company also provides its customers with plenty of support, a wealth of other insurance options and a reputation for excellent customer service. Because they have been in the business so long, they are also offering a stable source of insurance, so customers don’t have to worry about their rates changing suddenly and sharply or the insurance being pulled out from under them due to company problems.
It’s important to note that Mutual of Omaha is not selling some kind of Medicare Advantage plan that isn’t available elsewhere. The combination coverage and pricing may be unique, but the basic plan is till the same, and the additional coverage is likely something that can be bought elsewhere as part of a competitor’s Advantage plan. It’s the combination of factors that makes Mutual of Omaha worth considering, and as a new entry into the Advantage plan market, they are worth a look. Seniors should take the time to compare them to other insurance providers to see how they stack up.
How Advantage Plans Cover Your Medical Expenses
Advantage plans are unique in that they offer some extensive medical coverage. They go beyond the basic Medicare plan, but they also include that basic plan. They cross over with some of the Medicare Supplements’ coverage, which means that they are incompatible with those plans, due to how they share some of the same coverage. They can also include coverage for Medicare Part D, which would mean that you could not purchase that Part D plan as well, if your Advantage plan already includes that coverage.
There is no other Medicare plan that comes with so much coverage as Medicare Advantage; so the name seems fitting. They give you an advantage over your medical expenses, providing more coverage than any other plan from the Medicare family of coverage options.
Though they may have that Medicare name, you won’t be able to buy them through the Medicare organization. It’s private insurance companies like Mutual of Omaha and others that sell these plans. They all have to abide by Medicare’s rules for coverage, but they can also customize the coverage to make their plans stand out. So, if Mutual of Omaha doesn’t have the kind of coverage you need, but you think that a Medicare Advantage plan is probably what you want to go with, then you can continue to look elsewhere until you find the right plan for you.
Advantage plans of all shapes and sizes are fitted with the same basic coverage. They all have to include Medicare Part A and Medicare Part B, which makes up the original, basic Medicare plan. They also have to include coverage for urgently needed medical care as well as for emergency medical services. This is all part of the basic coverage, but many Advantage plans don’t stop there with what they have to offer.
Many of them go much farther and also provide coverage for Medicare Part D, as we already mentioned. This is for your prescription drug costs, and what exactly it covers will vary from one insurance company to the next. Be sure to pay attention to what is being covered and how it applies to you to know if this is worth signing up for. If the Advantage plan you chose does not include that Part D coverage, but you still want your prescription drug costs to be covered, then you can buy Part D on its own in addition to the Advantage plan.
Mutual of Omaha Medicare Advantage plans for 2019 may also include coverage for checkups for your general health, as well as for your eyesight and vision. If your doctor prescribes some glasses for you or a hearing aid or similar device, then that may be covered under your Advantage plan as well.
This is a sampling of what Medicare advantage plans can take care of for you, and many of them are different. They all come with the same base coverage, but beyond that, it’s kind of up to the individual insurance company and what they want to offer.
Who Needs Advantage Coverage?
Is Medicare Advantage right for you? That’s something you will have to answer for yourself, as we can’t tell you whether it is a good choice or not. We don’t know your personal situation and what kind of financial responsibilities you have or what your medical condition is. You have to assess your medical expenses and what ones you need to have covered by an insurance plan. Then you can look at what Mutual of Omaha and other Advantage plans offer to see how they stack up. You can compare their prices to see who has the best deal and sign up for the most appropriate plan for you.
Not every senior needs all that Advantage plans offer. Some need only the basic Advantage plans, while others need something more robust. Others still will be just fine with the Original Medicare plan alone. You’ll have to assess your situation and make that decision, and you can consult with your doctor and your insurance agent to help you make the right choice.
The cost of the Advantage coverage plan can be prohibitive for some people. You may need the kind of coverage these plans offer but may not be able to afford it. In that case, you will need to find a lower cost alternative, such as a Supplement plan. You may be able to come back and sign up for an Advantage plan later, once your financial situation changes or the plans become cheaper. Keep track of these plans and what they are offering, so you know when will be the best time for you to sign up.
How to Qualify for Advantage Coverage
It’s not hard to get a Medicare Advantage plan. Most seniors who have qualified for the basic Medicare plan will already qualify for Medicare Advantage. You typically have to be 65 years old and a US citizen to qualify, but you can qualify at a younger age, if you are disabled or have certain serious medical conditions, such as end stage renal disease.
Those who think they may be eligible for early Medicare, including Medicare Advantage, can talk to a Medicare insurance agent to find out about their eligibility. It doesn’t hurt to ask and find out what your status is.
You can apply through Mutual of Omaha once you are eligible for the Advantage plans. You should be aware of how they might cover you, though. All Advantage plans have to operate on a network, which consists of the hospitals and other medical facilities that have agreed to accept a given insurance company’s coverage plans.
So, Mutual of Omaha’s network consists of any medical facilities that will accept its medical coverage. Not every facility near you may be part of that network, and it is important to find that out before you apply for a plan with them. It’s possible that there will be no hospitals and doctor’s offices in your location that work with Mutual of Omaha and their network. Or you could be right in the middle of extensive network coverage. You’ll have to check and see before you apply, though, since it can be costly to cancel or switch plans partway through your contract.
If you are a senior, then you should be considering Mutual of Omaha as a possible Advantage plan provider, if nothing else. Their entry into this market is a welcome addition to what’s already on offer, and they are likely to make a decent showing for 2019 in order to pave the way for many more years in the Advantage market.
If you are interested in Mutual of Omaha Medicare Advantage plans for 2019, then look into what this company is offering and see how it compares to your personal needs. If they match up, you could end up saving hundreds of dollars every year on your medial care.