Medicare Advantage (also known as Part C) is an alternative way to get your Medicare Part A
(Hospital Insurance) and Part B (Medical Insurance) benefits. These plans are offered by private insurance companies approved by Medicare.
Key Features of Medicare Advantage Plans
- All-in-One: Most Medicare Advantage Plans include Part D (prescription drug coverage),
combining your healthcare needs into a single plan.
- Additional Benefits: Many plans offer extra benefits not covered by Original Medicare,
like vision, dental, hearing, and wellness programs.
- Additional Benefits: Many plans offer extra benefits not covered by Original Medicare,
like vision, dental, hearing, and wellness programs.
- Out-of-Pocket Maximums: These plans usually have yearly limits on your out-of-pocket
costs for covered services.
- Monthly Premiums: In addition to your Part B premium, you'll usually pay a monthly
premium for your Medicare Advantage plan.
Types of Medicare Advantage Plans
- Health Maintenance Organizations (HMOs): You usually need to choose a primary care
doctor and get referrals to see specialists.
- Preferred Provider Organizations (PPOs): You have more flexibility to see doctors and
hospitals outside of the plan's network, but it usually costs more.
- Private Fee-for-Service (PFFS) Plans: You can generally see any doctor or hospital that
accepts the plan's payment terms.
- Special Needs Plans (SNPs): These plans are designed for people with specific health
conditions or needs, such as chronic illnesses or disabilities.
Choosing a Medicare Advantage Plan:
Consider your healthcare needs, budget, and preferred doctors and hospitals when selecting a
plan. It's essential to compare plans carefully and understand the costs and coverage before
enrolling.
Remember: You can generally switch Medicare Advantage plans or return to Original Medicare
during specific enrollment periods.
