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The Importance of Medicare Advantage (Part C) Plans

Medicare Advantage Plans are important because the plan will cover your Medicare Part A (hospital insurance) and Medicare Part B (medical insurance) coverage. Not only do Medicare Advantage plans cover Part A and Part B, but they also provide the consumer with a handful of different plan options as well as extra benefits (dental/vision care/wellness programs).

What is a Medicare Advantage (Part C) plan?

Medicare Advantage Plans, sometimes called “Part C” or “MA Plans,” are offered by private insurance companies approved by Medicare. Medicare pays these companies to cover your Medicare benefits.

Medicare Advantage Plans must cover all of the services that Original Medicare covers except hospice care. Original Medicare covers hospice care even if you’re in a Medicare Advantage Plan. In all types of Medicare Advantage Plans, you’re always covered for emergency and urgent care. Many Medicare Advantage Plans also offer extra benefits such as dental care, vision care, and/or wellness programs.

What are the Perks of a Medicare Advantage Plan?

For many people, Medicare Advantage plans have good advantages. Various insurance carriers offer lower premiums, smaller copays, and lower deductibles than Original Medicare plans. And many Medicare Advantage plans include prescription drug benefits (Medicare Part D) under the same 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.

With a Part C plan, you will have a maximum out-of-pocket limit on health costs for yearly spending. Once you have reached the desired limit, covered services will cost you $0. All plans are different and change on a yearly basis, so make sure you do your research before choosing a plan.

The Importance of Medicare Advantage (Part C) Plans

Medicare Advantage Plans Give You Options

Here are the different types of Medicare Advantage Plans:

  • Health Maintenance Organizations (HMOs)
  • Preferred Provider Organizations (PPOs)
  • Private Fee-For-Service (PFFS)
  • Special Needs Plans (SNPs)
  • Other options include HMO Point-of-Service (HMO POS) and Medical Savings Account (MSA) plans

For more information on the different types of Medicare Advantage Plans, click here.

Not all Medicare Advantage plans are the same. It is important to always research the costs and benefits of each plan. Make sure to consider the medications that you are taking. Some Medicare Advantage Plans cover Prescription Drug (Part D) plans, while others do not. Always read the fine print.

You must have Medicare Parts A and B and live in the plan’s service area to be eligible to join. People with End-Stage Renal Disease (permanent kidney failure) generally can’t join a Medicare Advantage Plan.

To learn more about Medicare Advantage (Part C) plans, click here.