Choosing Between Medicare Advantage Plans in New York
Finding Medicare Advantage Plans in New York can be extremely easy although the hard part is to understand the difference between the various plans. HMOs, PPOs, PFFS are some of the terms you're going to hear when deciding between different types of Medicare Advantage plans in the State of New York. Don't fret though; the advantage of having many plans to choose from is that these plans also offer you the chance at getting many choices.
There are two main types of plans which are typically quite popular in the State of New York and those are the PPOs as well as the HMOs. Both are similar in certain respects though they do have quite a number of differences as well.
PPOs are also called Preferred Partner Organizations. As the name suggests, these are Medicare Advantage plans that involve getting services from a preferred provider within New York State. These providers are taken from a network which functions in New York. The advantage of going to providers that actually belong to this network is that they cost less for you as an insurance plan holder. PPOs do charge you in terms of copayments however the amount that you pay for copayment will depend on whether or not the doctor that you are going to see is actually within the network of providers. If you typically go to providers outside their network, you will also find that the copayment will be much higher in terms of copayments rather than in terms of premium.
In the case of an HMO, the two are actually very similar. HMOs are Health Maintenance Organizations which basically mean that they also have a network of providers that they work with. You are typically not covered when it comes to going to another healthcare provider outside the network for other states - though this is not always the case when it comes to New York. In this case, HMOs that allow you to go outside the network offer what is called a Point-of-Service which will entail you getting a referral first.
Clearly, each has its own advantages. The majority of Medicare Advantage plans however offer PPOs as the most popular. The main advantage of the PPO system is that it doesn't just give you the chance to visit other providers, it also puts a limit on the out-of-pocket which means even if you have reached your limit, your costs will be shouldered by the insurance company.
Make sure you check for additional information that can help get the most cost effective Medicare Advantage plans in New York. Take advantage of free insurance quotes. Sign up now!