Medicare Advantage (Medicare C) is the private health insurance alternative to the federally run original Medicare. Think of Advantage as a kind of one-stop-shopping choice that combines various parts of Medicare into one plan.
What is a Medicare Advantage Plan?
Medicare Advantage Plans are another way to get your Medicare A and B coverage. Medicare Advantage Plans, sometimes called “Part C” or “MA Plans,” are offered by Medicare-approved private companies that must follow the rules set by Medicare.
If you decide on a Medicare Advantage — or MA — plan, you’ll still have to enroll in parts A and B and pay the Part B premium. Then, in addition, you will have to choose a Medicare Advantage plan and sign up with a private insurer.
Most Medicare Advantage Plans include drug coverage (D). Not all of these plans cover the same extra benefits, so make sure to read the plan descriptions carefully.
Are you eligible for Medicare Advantage Plans?
You qualify for Medicare Advantage Plan (Medicare C) if you already have Medicare A and B and if you live in the service area of the Medicare C provider you are considering.
In 2021, people with end-stage renal disease (ESRD) were eligible to enroll in a broader range of Medicare Advantage plans due to a law passed by Congress.
How much does a Medicare Advantage Plan cost?
The cost of a Medicare Advantage Plan plan will depend on a variety of factors. The most common costs within your plan will be:
Your Medicare B monthly premium, which may be covered by your Medicare C plan
Your Medicare C costs, which include a deductible and monthly premiums
Your out-of-pocket costs, which include co-payments and coinsurance
Already have Medicare C ? Switching is easy
It might be time to switch insurers whenever the service that your existing insurer provides doesn’t meet your needs. For example, if you have a poor claims experience or an unexplained rate increase, it might be time to consider other options
If you cancel a previous policy before a new policy is effective, you could run into some serious financial problems.
Contact us today to help you with multiple options to choose from.
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