Medicare Advantage Plans
Medical Advantage Plans are also known as Medicare private health plans. These plans are contracted with the federal government in which a fixed amount is paid per person in providing Medicare benefits. Majority of people who have Medicare get their healthcare coverage from the original Medicare plan, but about a third of the beneficiaries choose a Medicare Advantage Plan’s benefits.
There are various types of Medicare Advantage Plans, but the most common ones are Health Maintenance Organizations (HMOs), Preferred Provider Organizations (PPOs), and Private Fee-For-Service (PFFS). HMOs are private companies that the federal government pays to provide Medicare covered healthcare benefits. Some of this coverage offer additional benefits, such as hearing and vision care. Additionally, HMOs cover all services covered by Medicare.
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With Preferred Provider Organizations (PPOs), fixed copays are required if the patient uses in-network providers. Otherwise, the costs will be higher out of network. Also, some additional benefits may be offered through PPOs, such as dental and vision care.
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With Private Fee-For-Service (PFFS), patients can enroll in this as an alternative way of obtaining Medicare benefits. These plans cover all services that would be covered under the original Medicare, including outpatient (Part B) and inpatient (Part A) services. Medicare prescription drug services (Part D) may also be offered. However, if the prescription drugs are not covered, the patient can enroll in an individual Medicare prescription drug plan.
Other than that, there are other Medicare Advantage Plans, such as Medicare Medical Savings Accounts (MSAs), Provider Sponsored Organizations (PSOs), and Special Needs Plans (SNPs). And patients are still required to have Medicare if they are planning to enroll in a Medicare Advantage Plan.
InnovaCare Health is a leader in providing managed healthcare services within North America. Their primary areas of care come through Medicare Advantage Plans and Provider Networks, and they always strive to offer quality healthcare with advanced technologies that are cost effective and sustainable. InnovaCare works with various employers, patients, payers, hospitals, and physicians in building physician networks that are in the best interests of all involved parties; thus, achieving great result for each practice.
Their proven and tested system has yielded a 99% satisfaction rate, a significantly increased rate in health management and preventive screening among beneficiaries, and 40% reduction than the previous year in disenrollment. The success of InnovaCare is largely due to their reputable and experienced leaders, such as Rick Shinto, M.D., MBA, and Penelope Kokkinides. Dr. Shinto is the CEO and president of InnovaCare, and he served as the CEO and president of Aveta Inc. from 2008 to 2012. Ms. Penelope Kokkinides is the Chief Administrative Officer who rejoined InnovaCare in June 2015. Before that, she was the company’s Chief Operating Officer.
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