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Medicare Advantage, also known as Medicare Part C, is an alternative to Original Medicare (Parts A and B). It is offered by private insurance companies approved by Medicare and provides coverage for hospital (Part A) and medical services (Part B). Most plans also include additional benefits and services.
Medicare Advantage, also known as Medicare Part C, is an alternative to Original Medicare (Parts A and B). It is offered by private insurance companies approved by Medicare and provides coverage for hospital (Part A) and medical services (Part B). Most plans also include additional benefits and services.
Here’s a breakdown:
Comprehensive Coverage: Medicare Advantage plans often bundle additional benefits that Original Medicare doesn't cover, such as:
Prescription drugs (Part D)
Dental care (routine checkups, cleanings, and sometimes more extensive services)
Vision care (glasses, contacts, and eye exams)
Hearing aids
Wellness programs (e.g., gym memberships, telehealth services)
2 . Provider Networks: Plans typically operate within networks like:
Health Maintenance Organizations (HMOs): You must use in-network providers (except in emergencies).
Preferred Provider Organizations (PPOs): More flexibility to see out-of-network providers, but at a higher cost.
3 . Costs: Medicare Advantage plans have maximum out-of-pocket limits to cap your spending on covered services
You may still pay your Medicare Part B premium, along with any additional premium for the plan.
Some plans offer $0 premiums, but costs vary depending on coverage and location.
4. Enrollment:
You must already be enrolled in Medicare Part A and Part B.
Enrollment occurs during specific period:
Initial Enrollment Period (IEP): Around your 65th birthday.
Annual Election Period (AEP): October 15–December 7, when you can join, switch, or drop a plan.
Medicare Advantage Open Enrollment (January 1–March 31): Switch or return to Original Medicare
5. Prescription Drug Coverage:
Many Medicare Advantage plans include built-in Part D coverage for prescription drugs.
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Email: Bryce.graham@mycompben.com
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