Medicare Advantage Plans in Arkansas
Key Takeaways
- Medicare Advantage plans are offered by private insurance companies to replace Parts A and B coverage provided by Original MedicareOriginal Medicare is a fee-for-service health insurance program available to Americans aged 65 and older and some individuals with disabilities. Original Medicare is provided by the federal government and is made up of two parts: Part A (hospital insurance) and Part B (medical insurance). as well as additional coverage.
- All Medicare-eligible Arkansas residents had access to at least one $0 premium Medicare AdvantageMedicare Advantage (Medicare Part C) is health insurance for Americans aged 65 and older that blends Medicare benefits with private health insurance. This typically includes a bundle of Original Medicare (Parts A and B) and Medicare Prescription Drug Plan (Part D). plan in 2024.
- Many Medicare Advantage plans in Arkansas offer Part DMedicare Part D is prescription drug coverage for people enrolled in Medicare. Part D is optional and is offered by private insurance companies. prescription drug coverage.
Arkansas Medicare Advantage Plan Coverage
The availability of Medicare Advantage plans varies by geographic location. In 2024, 90 plans were available in Arkansas.
If you enroll in Parts A and B of Original Medicare, you have the option of switching to a Medicare Advantage plan offered by a private insurance company. Medicare Advantage plans in Arkansas must offer the same coverage as Parts A and B. In addition, they often offer Part D prescription coverage and may include other benefits not available from Original Medicare.
Every Arkansas resident eligible for Medicare had access to at least one Medicare Advantage plan with a $0 monthly premiumA premium is a fee you pay to your insurance company for health plan coverage. This is usually a monthly cost.
in 2024. There are 30 plans available in Arkansas that offer additional support for people who receive low-income subsidies, also called Extra Help, or who are chronically ill. For example, enrollees may be able to access lower (or zero) cost sharing for their Part D coverage as well as food and nutrition benefits.
Different plan types exist within Medicare Advantage:
- HMO: Also known as a Health Maintenance Organization, HMOs are the most common type of Medicare Advantage plan in Arkansas. This plan type requires you to choose an in-network doctor to be your primary care provider. Your primary care provider can refer you to an in-network specialist.
- PPO: Also known as a Preferred Provider Organization, PPOs allow greater flexibility than HMOs and will usually pay a portion of fees for out-of-network providers.
- PFFS: Also known as a private-fee-for-service plan, PFFS is a plan option where an enrollee can see any medical providers who accept their plan’s terms.
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AR Medicare Advantage Plan Costs
Medicare Advantage plans have premiums starting at $0. However, the average monthly Medicare Advantage premium in Arkansas was $14.85 in 2024.
When you choose Medicare Advantage, you may have a monthly Medicare Advantage premium as well as your monthly Part B premium. For 2024, the Part B premium was $174.70. However, if you have an income level higher than $103,000 on your individual tax return (or $206,000 if you’re married and file jointly), you will have to pay a higher Part B premium.
There are key considerations regarding costs for your Medicare Advantage plan that extend beyond the monthly premium. These include a deductible you must meet before insurance pays, as well as copaymentsA copayment is the fixed amount you pay directly to your provider for medical services or prescription drugs covered in your plan.
For example:
If your plan includes a copayment of $20 for office visits, you’ll pay $20 to your doctor whenever you have an appointment.
and coinsuranceCoinsurance is the percentage of your medical costs that you pay after you meet your deductible. Your insurance company pays the remaining amount.
For example:
If you have a $1,000 medical bill and your coinsurance is 20%, you’ll pay $200. Your insurance company will cover the final $800.
. When you take these factors into account, a $0 premium plan could actually be the more expensive option long-term should you require significant healthcare services. GoHealth can help you find the right plan for your circumstances.
Medicare Advantage Plan Eligibility & Enrollment in Arkansas
There are several key times you can enroll in Medicare Advantage. The first is your Initial Enrollment Period. This is the time when you first qualify for Medicare. Most people in Arkansas will qualify for Medicare based on their age. The three months before, the month of, and the three months after you turn age 65, you can sign up for Part A and B of Original Medicare. If you sign up for both parts, you are eligible to switch to Medicare Advantage.
When you have Medicare Advantage, you will receive a new card detailing your policy. While you should keep your Original Medicare card in a safe place, you will primarily use your Medicare Advantage card when providing billing information for healthcare services.
If you already have a Medicare Advantage plan, you can enroll in a new one if you wish at key times during the year. The Medicare Open Enrollment Period, also known as the Annual Enrollment Period, is from October 15 through December 7. Even if you are happy with your current Medicare Advantage plan in Arkansas, it may be worth taking a look at available options to see if you could find a plan that could save you money or offer enhanced services.
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Are There Medicare Advantage Plans With Prescription Drug Coverage?
Medicare enrollees can benefit from a Part D prescription drug plan. Private insurance companies offer standalone plans if you are on Original Medicare, or Medicare Advantage plans usually incorporate Part D coverage.
The Inflation Reduction Act capped the cost of a one-month supply of insulin for people Medicare at $35 with no need to to pay a deductible. This price cap applies to everyone prescribed insulin under a Part D plan even if they receive Extra Help.
Medicare Learning Guides
Healthcare is personal. So is choosing insurance. If you are new to Medicare, a beneficiary researching options, or a caregiver, we have tailored Medicare Guides for you.
Before 65 Guide
Understanding health insurance before age 65, especially when considering early retirement
Medicare Plans Guide
Costs, coverage and enrollment details for each Medicare plan
Medicare Beneficiary Guide
For those currently enrolled in Medicare
Low Income and Medicare Guide
For individuals with a qualifying income status
A Caregiver's Guide
For individuals with a qualifying income status
Sources
- FACT SHEET. CMS.gov.
This website is operated by GoHealth, LLC., a licensed health insurance company. The website and its contents are for informational and educational purposes; helping people understand Medicare in a simple way. The purpose of this website is the solicitation of insurance. Contact will be made by a licensed insurance agent/producer or insurance company. Medicare Supplement insurance plans are not connected with or endorsed by the U.S. government or the federal Medicare program. Our mission is to help every American get better health insurance and save money.
Any information we provide is limited to those plans we do offer in your area. Please contact Medicare.gov or 1-800-MEDICARE to get information on all of your options.