Medicare Advantage Plans, an option for people instead of traditional Medicare, are operated by companies that contract with the federal government to provide all of the same services that people would normally receive from Medicare’s Part A and Part B. Participants still pay their Medicare premiums, however, they might be subject to different rules and stipulations regarding care, which may include higher co-pays or additional services not covered by Medicare.
There are numerous types of Medicare Advantage Plans, including Health Maintenance Organizations, Preferred Provider Organizations, Medicare Medical Savings Accounts and Private Fee-For-Service plans. Each type of Medicare Advantage Plan has it’s advantages and disadvantages and each plan, such as two Private Fee-For-Service plans, may vary. Before selecting a plan, people need to determine if they can continue using their existing primary care provider, if their current prescription drugs are covered and co-payments and out-of-pocket costs. Switching from a traditional Medicare or another Medicare Advantage Plan is a major decision since switching plans is limited to specific times each year.
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Sometimes one company operates several Medicare Advantage Plans, such as InnovaCare Health, which offers MMM Healthcare, Inc. (MMM) and PMC Medicare Choice, Inc. (PMC). Both are HMO plans with value-added programs that are available to residents of Puerto Rico. Based in New Jersey, the managed healthcare provider operates Provider Networks as well as Medicare Advantage Plans. InnovaCare Health serves almost 200,000 persons in Puerto Rico, which has a rapidly aging Medicare-eligible population, three-quarters of whom choose a Medicare Advantage Plan for the extra benefits.
InnovaCare Health is led by Dr. Richard Shinto, M.D., M.B.A., who serves as President and Chief Executive Officer and Penelope Kokkinides, InnovaCare’s Chief Administrative Officer. While Dr. Rick Shinto began his career as an internist and pulmonologist, he also has a Masters in Business Administration and he has served as the Chief Medical Officer and Chief Operating Officer of similar companies. Penelope Kokkinides describes herself as “a lifelong health care professional. Both have decades of healthcare and managed care experience, which helps explain that while InnovaCare Health strives to furnish cost-effective care, they also are committed to integrating advanced technologies into member’s health care.
Learn more about InnovaCare Health: http://www.manta.com/c/mmnthrl/innovacare-services-company-llc