Roughly 44 million Americans are leveraging Medicare benefits today. That number is expected to soar to about 79 million by the year 2030.
Despite Medicare’s popularity, government-issued health plans have limits to the degree of care they offer, the amount of coverage one can claim for certain treatments, and more.
In these cases, leveraging specialized plans that address niche concerns can be helpful to keep healthcare costs down. Therein lies the value of an SNP.
SNP stands for special needs plan(s) which is a type of insurance that is picking up momentum in the marketplace. If you’re curious to know more about SNP, keep reading to discover key facts.
SNP Is a Medicare Advantage Plan
You may have never heard of “SNP” but you’ve likely heard of Medicare Advantage. Medicare Advantage is an offshoot of traditional Medicare plans that are serviced through the private sector in conjunction with the government.
These plans are lower in cost than your traditional private PPO or HMO. They also provide additional flexibility that you’d enjoy in the private insurance arena versus what you might find in pure Medicare plans.
It’s Only Available to Certain Groups
Special needs plans are targeted at individuals with special healthcare needs. That might mean those that are suffering from a particular disease or have unique characteristics that make care under generalized Medicare a non-effective solution.
For example, AIDS sufferers. Those with chronic heart failure. People with dementia.
These would all be groups that could benefit from some sort of SNP arrangement.
There Are Guardrails
People that look at a specialized SNP, see they’re furnished by the private sector, and get excited thinking they’ll get autonomy in directing their treatment. As we’ve mentioned, an SNP does offer more flexibility than traditional Medicare. Given the government’s continued involvement though, there are guardrails.
Most SNP plans will require you to select an in-network doctor. You’ll also have to get referrals if you need to see specialists.
You can learn more about the specifics regarding your special needs plan by talking to brokers like the ones you’d find through the MedicareWire site or by reaching out to a government Medicare representative.
Applying for SNP Is Like Applying for Any Insurance Plan
If you’re interested in an SNP, applying can be done through private insurer websites that offer them. Brokers can also assist with finding the right insurer that’s eligible to cover you in your area.
Finally, you can learn more about and find qualified SNP providers through the Medicare website.
Getting a Specialized Medicare Plan Takes the Pressure Off Health
Even with the help of medicare, unique health concerns can make worrying about medical expenses a serious issue for the ill. Specialized, reliable, special needs plans help take the edge off those worries. They provide tailored coverage that’ll fill in the gaps in your existing Medicare policy.
If those advantages sound good to you, learn more about special needs plans today! You can do so through your medical provider and by exploring additional content on our blog.
