Medicare Advantage plans and Medicare Cost Plans are both types of Medicare health plans. If you’re looking at Medicare health plans in Minnesota, here’s what you need to know.
Comparing Medicare Advantage and Medicare Cost Plans in Minnesota
This table gives you a quick summary of the Medicare Advantage plans and Medicare Cost Plans.
If you live in Minnesota, be aware that Medicare Cost Plans may be phased out in your county.
|Benefit details and requirements||Medicare Advantage plans||Medicare Cost Plans|
|Do I need to have Medicare Part A?||Yes||No|
|Do I need to have Medicare Part B?||Yes||Yes|
|Can I enroll anytime that I’m eligible?||In general, no (can enroll only during certain enrollment periods or a Special Election Period)||Yes (if the plan is accepting new members)|
|Can I drop the plan anytime?||
|Does the plan include prescription drug coverage?||Yes (most plans)||Not every Medicare Cost Plan includes this coverage.|
|Can I go to a doctor outside the plan’s network?||Depends on the type of Medicare Advantage plan||Yes. You pay any applicable Original Medicare copayment, coinsurance, and/or deductible amount.|
Please note that if you’re enrolled in Part B, you must continue to pay your Part B premium each month. That’s in addition to any premium your Medicare Cost Plan or Medicare Advantage plan may charge.
Are there Medicare Advantage and Medicare Cost Plans in Minnesota?
There may be a number of Medicare Advantage plans available in Minnesota. Just a reminder: you need to be enrolled in both Medicare Part A and Part B, and live in the plan’s service area.
But you might not be able to sign up for a Medicare Cost Plan. These plans may be phased out in Minnesota as of 2019. However, you might have other Medicare coverage options beyond Original Medicare. For example, you may be able to sign up for a Medicare Supplement Insurance Plan and/or stand-alone Medicare Part D Prescription Drug Plan.
Would you like to know more about the different Medicare plan options available in your area? I can answer any questions you may have.
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