A Medicare Advantage Plan, also known as Part C, serves as an alternative to traditional Medicare Supplement Plans. These plans are offered by private insurance companies approved by Medicare and are required to adhere to Medicare’s regulations. By enrolling in a Medicare Advantage Plan, you retain Medicare coverage; however, your Part A (hospital insurance) and Part B (medical insurance) benefits will come through the Medicare Advantage Plan rather than Original Medicare. You’ll use the Medicare Advantage Plan card for all doctor visits, hospital stays, and pharmacy services.
Details
Medicare Advantage Plans and Coverage
Medicare Advantage Plans cover all Medicare Part A and Part B services, including essential healthcare services such as urgent and emergency care. These plans are obligated to provide at least the same coverage as Original Medicare.
Perks
Key Benefits of Medicare Advantage
Many Medicare Advantage Plans offer additional health benefits beyond Original Medicare, such as vision, hearing, dental, and other wellness services. Additionally, most Medicare Advantage Plans include Part D prescription drug coverage. While you will still pay your Medicare Part B premium, Medicare Advantage Plans usually come with an extra monthly premium, often more affordable than rates for Medicare Supplement plans.
Although Medicare sets the rules for these plans, individual Medicare Advantage Plans may differ in out-of-pocket expenses and network restrictions, such as requiring referrals or limiting services to in-network providers. Plan guidelines may also change annually.
You will receive advance notice from your plan about any changes for the upcoming enrollment year, allowing you to decide whether to renew or switch plans. The most popular types of Medicare Advantage Plans include:
- HMOs: Health Maintenance Organizations
- PPOs: Preferred Provider Organizations
- PFFS: Private Fee-for-Service Plans
Let us support you in choosing the Medicare plan that best meets your needs. Making an informed choice can help you maximize your benefits and manage your healthcare costs effectively.