Medicare Advantage, sometimes called Part C, is a type of Medicare health plan offered by private companies that are approved by Medicare. Medicare Advantage plans provide all your Part A and Part B coverage, and may also include prescription drug coverage (Part D).
Medicare Advantage plans are designed to be more affordable than Original Medicare, and they often offer additional benefits, such as dental and vision coverage, hearing aids, and transportation to and from doctor’s appointments.
To be eligible for Medicare Advantage, a plan must be available in your zip code, and you must be enrolled in Medicare Part A and Part B. You can enroll in a Medicare Advantage plan during the annual open enrollment period, which runs from October 15 to December 7 each year. You can also enroll in a Medicare Advantage plan if you have a qualifying life event, such as moving to a new area or losing your job-based health insurance.
When choosing a Medicare Advantage plan, it’s important to consider the following factors:
- The cost of the plan, including the monthly premium, deductibles, and copayments.
- The benefits that are covered by the plan.
- The network of doctors and hospitals that are in the plan.
- The plan’s customer service.
- The out-of-pocket maximum
There are many diverse types of Medicare Advantage plans available, so it is important to compare plans and prices to find the best one for you. You can use the Medicare Plan Finder to compare plans and prices in your area.
Like the above list, here are some of the things to keep in mind when comparing Medicare Advantage plans:
- The monthly premium.
- The coverage limits.
- The deductibles.
- The copayments and coinsurance.
- The out-of-pocket maximum.
- The benefits that are covered.
It’s also important to remember that you can only have one MA plan at a time. If you already have an MA plan and you want to switch to a different plan, you may have to wait until the annual Open Enrollment Period.
Here are some of the benefits of Medicare Advantage:
- MA plans can offer lower out-of-pocket costs than Original Medicare.
- MA plans often include additional benefits that Original Medicare does not, such as prescription drug coverage, vision and dental coverage, and fitness programs.
- MA plans may have lower premiums than Medigap plans.
- MA plans may offer more flexibility than Original Medicare, such as allowing you to see doctors outside of your network.
Here are some of the drawbacks of Medicare Advantage:
- MA plans may have more restrictions on your choice of doctors and hospitals than Original Medicare.
- MA plans may not be available in all areas.
If you are considering enrolling in a Medicare Advantage plan, it is important to talk to Medicare experts like Ashford Insurance. They can help you compare plans and choose the one that’s best for you. Call 817-952-3153 today.
Photo by Marcus Aurelius
