October 6, 2016
Medicare beneficiaries in Tennessee may enroll in Medicare Advantage plans as an alternative to their Original Medicare coverage. Offered by Medicare-approved private insurance companies in Tennessee, Medicare Advantage plans cover all hospitalization and medical benefits offered by Medicare Part A and Part B (except for hospice care, which Part A still provides). Tennessee Medicare Advantage plans may offer additional benefits such as vision, hearing, and/or dental coverage.
In 2016, 2.5% of all Medicare Advantage beneficiaries in the United States, or 440,394 individuals, were Tennessee residents enrolled in a Medicare Advantage plan. Of these, 69% of the beneficiaries were enrolled in a Medicare Advantage Health Maintenance Organization (HMO) Plan, and 31% were enrolled in Medicare Advantage Preferred Provider Organization (PPO) plans*.
Many Medicare Advantage plans in Tennessee also include prescription drug coverage. These plans, also known also known as Medicare Advantage Prescription Drug plans, combine health and prescription drug coverage into one plan that may be available to Medicare beneficiaries in Tennessee.
It is important to compare all your available plan options when selecting a Tennessee Medicare Advantage plan. The availability and cost of Medicare Advantage plans varies depending on your state and county of residence. Premiums for a Medicare Advantage plan with the same coverage and benefits can vary between different counties within the state of Tennessee. Please note that some Medicare Advantage plans in Tennessee may offer premiums as low as $0. Please note that you’ll still need to continue paying your Medicare Part B premium, along with any premium the Medicare Advantage plan requires, as well as any copayments, coinsurance, and deductibles.
You should also decide whether or not you would like to choose a Medicare Advantage Prescription Drug plan. Remember that Medicare Advantage plans may offer additional benefits beyond what is included in Original Medicare coverage. Hence, it is even more important to compare plans with the benefits best suited for your needs.
To start comparing Medicare Advantage plans in Tennessee today, enter your zip code above for a customized list of plans available in your area. You can also enter in your prescription drugs to further tailor your search and cost estimations.
*Data provided by the Kaiser Family Foundation.