Medicare Advantage Plans (Part C)

Advantage & Supplement / Medigap Plans

Medicare Advantage plans may work better for you than signing up for the various parts of original Medicare.

Advantage plans roll Parts A, B & D into one, and can also provide vision & dental coverage, so some people find it easier to use & depending on the plan, less costly.

If you are enrolled in a Medicare Advantage plan, you will not need a Medigap plan. Advantage plans generally require you to stay within their network of doctors and hospitals to control costs. Your choice of plans will depend on where you live; some places have 20 or more plans available, others have only one or two.

Medicare Part C rolls:
Part A (hospital insurance),
Part B (medical insurance), &
Part D (prescription drug coverage)
into a single plan, with a single card.

Approximately 20 million Americans sign up for Part C annually.

Part C plans are offered by private companies and offer all the benefits of Medicare Parts A & B, and some plans provide additional benefits beyond those offered under Parts A & B. These benefits can include prescription drug coverage, vision, dental, hearing benefits, and health and wellness programs.

Medicare Advantage Plans

** Individuals who are enrolled in a Medicare Advantage plan are not eligible for a Medicare supplement policy. **

Individuals enrolled in a Medicare Advantage plan are responsible for paying their Part B premium in addition to their Medicare Advantage premium.

The total cost (accounting for co-pays and deductibles) to covered individuals is often less than that borne by individuals covered by Medicare Parts A & B. Half of Medicare Advantage Prescription Drug Plan enrollees pay no premium beyond the Part B premium.

There are a variety of Medicare Advantage plans that eligible individuals can select from.

Medicare Advantage Insurance Plans

Options include:

  • Preferred Provider Organizations (PPO)
  • Medicare Medical Savings Account Plans (MSA)
  • Health Maintenance Organizations (HMO)
  • Private Fee-for-Service Plans (PFFS)
  • Special Needs Plans (SNP)

However, all plans must provide the same benefits provided under Medicare Parts A & B.

Medicare Advantage plans are annually rated by the Medicare Program based on quality and performance in advance of the open enrollment period. Ratings are between one and five stars, with five stars indicating the best level of service.

When selecting a Medicare Advantage plan, there are several distinguishing factors to be aware of:

  • Out of pocket costs to the individual (deductibles, premiums, co-pays).
  • The providers available under the plan (including whether your current health care provider is in-network).
  • The consequences of seeing an out-of-network provider.
  • Whether a referral is required to see a specialist.
  • Prescription drug coverage, including co-pays associated drugs you’re already taking.
  • Any additional benefits that may be offered, (i.e. wellness programs).

Looking for more information on Medicare Part C / Advantage Plans?

Read our other blog posts below:

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