March 8th 2024
By Ari Parker
In this article, we’ll help you understand what’s in a Medicare Advantage plan, highly-rated plans in Michigan, and how to find the best one for you.
Did you know that 59% of Medicare beneficiaries in Michigan are enrolled in a Medicare Advantage plan? Before enrolling in a Medicare plan, it’s important to know your options so you get comprehensive coverage at prices that work for your financial situation.
The best Medicare Advantage plan in Michigan isn’t the same for everyone! The best plan for you depends on what you need from a health insurance plan and what your financial situation is. In this article, we’ll help you understand what’s included in a Medicare Advantage plan, which carriers offer highly-rated plans in Michigan, and how to find the best one for you.
The best MI Medicare Advantage plan for you takes your healthcare and financial needs into account. Consider your healthcare priorities and how much you’re willing to pay for premiums and out-of-pocket costs.
HIghly-rated plans in Michigan include some offered by UnitedHealthcare, Humana, and HAP Senior Plus.
There are 108 Medicare Advantage plans in Michigan—pricing and availability varies by county.
The average premium for Michigan Medicare Advantage plans is $21.23.
There are 16 insurance providers that offer Medicare Advantage plans in Michigan, including Aetna Medicare, Humana, and UnitedHealthcare.
Medicare Advantage plans are different from Original Medicare in a few key ways.
Private insurance companies offer Medicare Advantage plans while the federal government provides Original Medicare coverage.
Out-of-pocket costs aren’t standardized and vary between plans.
Unlike Original Medicare, Medicare Advantage plans often provide coverage for prescriptions and routine vision, dental, and hearing services.
Medicare Advantage plans have an out-of-pocket limit to prevent you from owing a catastrophic amount for healthcare.
While Original Medicare generally covers fewer services and benefits than Medicare Advantage, Medicare Advantage plans can be more restrictive. Medicare Advantage plans often:
Require referrals for specialists
Restrict you to in-network providers
The Centers for Medicare and Medicaid Services (CMS) conducts a yearly assessment of Medicare Advantage plans to ensure that people understand which plans have a higher quality of care than others. A 5-star plan is a highly rated plan while a 1-star plan is the lowest rated plan. See which Medicare Advantage plan carriers offer top-rated plans below.
Carriers with plans awarded 5 stars:
UnitedHealthcare
Carriers with plans awarded 4.5 stars:
HAP Senior Plus
Humana
PHP Medicare
Priority Health Medicare
Keep in mind that a 5-star rating doesn’t make a plan the best one for you! When choosing the best Michigan Medicare Advantage plan for you, you should factor in your healthcare needs and budget. Make sure your plan covers the prescriptions you take regularly, the doctors you like to see, and the additional benefits that matter most to you to find your best plan.
When searching for the best Medicare Advantage plan for you, it’s helpful to break it down with these three Ps: providers, prescriptions, and priorities. Each of these three factors can guide you towards a plan that takes care of your needs.
Providers: Make sure that your Medicare Advantage plan covers the healthcare providers of your choice—both primary care physicians and specialists. Take a careful look at plan networks for the Medicare Advantage plans available to you in Michigan.
Prescriptions: Drug coverage is an important part of Medicare. It can be helpful to make a list of the prescriptions you need and then find a plan that covers them. If you take multiple prescriptions, finding a plan that covers them all while minimizing your costs can be a challenge. If you’re having trouble, our Advisors are here to help!
Priorities: Consider your healthcare and budget priorities. Think about what services you need covered, including vision, dental, and hearing needs. You can also take a look at the added benefits that many Medicare Advantage plans offer to find the best value. When it comes to your budget, you should consider what you’re able to pay monthly and find a plan that reduces your overall healthcare costs rather than just your monthly premium.
There’s a lot to consider when it comes to finding the best Medicare Advantage plan. If you’re new to Medicare, it can be more complex since you’re also learning about how Medicare works. Don’t worry—Chapter is here to help you compare plans, talk through what’s important to you, and find the best Medicare coverage for you! Chat with a licensed Medicare Advisor today by calling us at 855-900-2427 or scheduling a good time to talk for free, personalized advice.
