For now, we will focus on the different plan types. There are five different types of Medicare Advantage Plans. Keep in mind, these plans must provide all the benefits of Part A and Part B, and many plans offer additional coverage too. HMO plans charge the lowest premiums but have more restrictions. Premiums for all plans are low and many are $0. There are different types of plans:
- HMO: Health Maintenance Organization plans
- PPO: Preferred Provider Organization plans
- SNPs: Special Needs Plans (SNP is pronounced snips)
- PFFS: Private Fee-For-Service plans
- POS: Point of Service Plans
- Medical Savings Account Plans
Learn More: How much does a Medicare Advantage Plan Cost?