A Medicare Advantage Plan is another option to the Medicare Supplement Plan.
Medicare Advantage Plans, also called Part C, are offered by Medicare-approved private companies. These plans must follow guidelines set by Medicare. If you join a Medicare Advantage plan, you will still have Medicare but will receive Part A (hospital insurance) and Medicare Part B (medical insurance) from the Medicare Advantage Plan, not original Medicare. Your services will be under the benefit structure of your Medicare Advantage Plan. The card from your Medicare Advantage Plan will be used at the doctor’s, hospital, and pharmacy.
Medicare Advantage Plans cover ALL Medicare Part A and B Services:
Most Medicare Plans cover urgent care and emergency care. Medicare Advantage Plans must cover all the services that original Medicare covers.
Some advantages of Medicare Advantage
Most Medicare Advantage Plans offer additional benefits such as vision, hearing, dental, and some other health-related benefits. Most Medicare Advantage Plans also include Part D prescription drug coverage. In addition to your Medicare Part B premium, you will also pay a premium for your Medicare Advantage Plan. In most cases these premiums are lower than original Medicare Supplement rates.
Medicare Advantage Plans must follow rules set by Medicare, but they can have different out-of-pocket costs and have different rules for getting services, such as referrals, or getting care inside of a plan’s network for care. Rules on these plans can change yearly.
You must and will be notified by the plan before the start of the next enrollment year. You have the option to change or keep plans from year to year. The most popular Medicare Advantage Plan types are:
- HMOs: Health Maintenance Organizations
- PPOs: Preferred Provider Organizations
- PFFS: Private Fee For Service Plans