Medicare Advantage (Part C)
WHAT IS MEDICARE ADVANTAGE (Medicare Part C)
Medicare Advantage is a bundled alternative to Original Medicare (Parts A and B) offered by private insurance companies approved by Medicare. These plans cover hospital and medical insurance, usually (but not always) include prescription drug coverage (Part D), and often add benefits like dental, vision, and hearing.
Key Details About Medicare Part C (Medicare Advantage):
Coverage:
Includes all Part A and Part B services (hospital/medical), often plus prescription drugs (Part D) and extras like wellness programs, dental, and vision.
Private Providers:
Plans are run by private insurance companies, such as HMOs or PPOs, that follow Medicare rules.
Costs:
Costs vary by plan, but they often have lower premiums than Original Medicare, though they may have limited networks of doctors.
Requirements:
You must have Part A and Part B to join, and you must continue paying your Part B premium.
Enrollment:
You can sign up during your initial enrollment period (when turning 65), during the annual Medicare open enrollment period, or during designated "Special Election" periods.
Part C plans are not allowed to charge more than Original Medicare for certain services like chemotherapy and skilled nursing care. They also offer an out-of-pocket maximum on spending, which Original Medicare does not.