
What is Medicare Advantage?
Medicare Part C is available through Medicare Advantage plans, and is an alternative to Original Medicare (Part A and Part B).
Medicare Advantage plans are health insurance plans offered by private health insurance companies approved by Medicare. Medicare Advantage health plans (such as HMOs and PPOs) are legally required to offer at least the same benefits as Original Medicare, but can include additional coverage as well, such as routine vision or dental benefits, health wellness programs, or prescription drugs.
What are the beneifits of a Medicare Advantage Plan?
The best benefit of a Medicare Advantage plan is that you can get your prescription drug benefits (Medicare Part D) included under the same plan, instead of having to enroll in a separate stand-alone Medicare Prescription Drug Plan. Also known as Medicare Advantage Prescription Drug plans, these plans give you the convenience of having your Medicare Part A, Part B, and Part D coverage through a single plan. If you want prescription drug benefits, you should get it through a Medicare Advantage plan that includes this coverage; you shouldn’t enroll in a Medicare Prescription Drug Plan, which typically works with Original Medicare. Medicare Advantage plan costs and coverage details can vary depending on the insurance company and county that you live in. Here are some more pros for Medicare Advantage plans:
- Some insurance companies could offer a $0 premium for the Medicare Advantage plan.
- Beyond the benefits that Original Medicare offers, Your Medicare Advantage plan may cover additional benefits that are not covered by Part A and Part B, such as vision or dental coverage.
- Each plan comes with a maximum out-of-pocket limit on how much you will spend on health costs each year. Once that limit is reached, you will pay nothing for covered services.
- Medicare Advantage plan could have a different limit, and that amount may change each year.