Personal Finance

3 Reasons a Medicare Advantage Plan Could Be Right for You

Of course, Medicare Advantage plans have potential weaknesses that you'll want to be aware of.

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Medicare Advantage weaknesses

For instance, Medicare is more or less universally accepted by hospitals and doctors around the country. This means your primary care provider is more than likely in your network year in and year out. That's not always the case with a Medicare Advantage plan. Medicare Advantage plan networks tend to be much smaller, and it's possible that your PCP could drop out of the covered network from one year into the next. Losing your PCP is a risk Medicare Advantage patients take when enrolling.

Secondly, you could actually pay more for a Medicare Advantage plan than if you were enrolled under original Medicare depending upon your medical needs. Certain services covered under Part A and Part B could require higher copays, especially if you're out of network. Additionally, there is no out-of-pocket spending limit on prescription drug coverage.

Finally, with a Medicare Advantage you may be required to get a referral before heading to see a specialist or getting certain tests done. Under original Medicare this isn't the case.

Everyone's situation is different, and you'll definitely want to take the appropriate amount of time to examine which plan is ultimately right for you.

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The article 3 Reasons a Medicare Advantage Plan Could Be Right for You originally appeared on

Sean Williams has no material interest in any companies mentioned in this article. You can follow him on CAPS under the screen nameTMFUltraLong, track every pick he makes under the screen nameTrackUltraLong, and check him out on Twitter, where he goes by the handle@TMFUltraLong.The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter servicesfree for 30 days. We Fools may not all hold the same opinions, but we all believe thatconsidering a diverse range of insights makes us better investors. The Motley Fool has adisclosure policy .

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