You must know the answers to all the necessary questions before purchasing any type of Medicare Advantage coverage, regardless of choosing an uninsured discount plan or one of the many traditional indemnity-based Medicare Advantage insurance plans. Remember that state insurance departments do not regulate Medicare Advantage rebate plans. That being said, the fact that they’re not regulated doesn’t mean they’re not legitimate –just be careful. If you are unsure whether you are buying insurance or not, just ask if a licensed insurance company is offering the plan and check it with the insurance company. There are now state licensed Medicare Advantage rebate plans.
For Uninsured Medicare Advantage Plans, commonly called reduced rate service or discount plans, participating Medicare Advantage service providers assist the subscriber plan at a reduced rate. These types of plans began in the early 1990s and offer benefits such as braces, fills, exams and routine cleanings in exchange for a discounted rate for their members. Members generally receive a 30% to 35% discount on retail prices. Be careful; if you do not have Medicare Advantage insurance coverage beyond a discounted Medicare Advantage plan, you may have a substantial liability for payment to suppliers. For example, a 25% discount applied to a $2000 Medicare Advantage account would still leave a person with a $1500 liability. Also, due to the payment due at the time of service (i.e. when the Medicare Advantage work is completed), be prepared to pay your Medicare Advantage bill in full before leaving the office.
Most standard Medicare Advantage insurance policies will cover some routine Medicare Advantage visits, x-rays, and Medicare Advantage cleaning. This is the preventive part of Medicare Advantage care that most Medicare Advantage insurance companies are willing to invest. Preventive Medicare Advantage care eliminates/reduces the chances of developing major Medicare Advantage problems. As most Medicare Advantage problems can be prevented, there is less need for expensive treatments later. This works for the benefit of you and the Medicare Advantage insurance company.
If you need expensive treatment such as root canals, Medicare Advantage implants, dentures, bridges, etc., your insurance company will usually pay a percentage of the cost of treatment and you will have to pay the rest. The percentage paid by the Medicare Advantage insurance company will range from 50 to 80% of your total cost. This depends on the type of policy and also the premium you want to pay annually. Higher premium policies will cover a larger part of the cost of treatment.