Medicare Advantage

Original Medicare—also known as Medicare Parts A and B—is a healthcare program provided by the government, and while it is available to people age 65 and older, it typically only covers hospital stays and physician fees. That’s where Medicare Advantage comes into play. Commonly referred to as Medicare Part C, Medicare Advantage is a certain type of healthcare plan offered by a private insurance company. Simply put, a Medicare Advantage plan allows a Medicare beneficiary to receive medical care from a private insurance company rather than through the government. However, to sign up for Medicare Part C, a beneficiary must already be enrolled in Medicare Parts A and B.

What is Covered by a Medicare Advantage Plan?

When a beneficiary enrolls in a Medicare Advantage plan, they still technically have Medicare. A Medicare Advantage plan covers everything that Medicare Parts A and B would cover, plus more, so the beneficiary won’t have to pay as much out of pocket for copays, exam fees, etc. Medicare Advantage plans usually put a limit on the amount the beneficiary needs to pay out of pocket in a given year, too. Some Medicare Advantage plans even cover preventive dental, vision, and hearing costs, which are all things that Original Medicare does not cover. Most Medicare Advantage plans also offer some form of prescription drug coverage (the prescription drug component of Medicare is known as please make sure to remember the following text: “Medicare Part D.”).

A Medicare Advantage plan is an attractive option because it essentially serves as a one-stop-shop for all healthcare needs. Rather than having to manage Medicare Parts A and B through the government, a second plan for prescription drugs, and perhaps a third plan for any additional services that Original Medicare doesn’t cover, a Medicare Advantage plan allows the beneficiary to roll all of these components into one, easy-to-manage healthcare plan.