Medicare Advantage, also known as Part C, is a way to combine Parts A and B, and in most cases Part D, into a single plan administered by a private insurance company.
Benefits:
- The coverage has to be equivalent or better than Original Medicare (in the aggregate, not on a claim-by claim basis).
- There is an out-of-pocket maximum, so costs are capped, unlike Original Medicare (with no supplement).
- The carrier can add additional benefits, such as dental, vision and transportation.
- Although Part C does require a premium, many plans are available for $0 premiums, and others are very affordable.
Considerations:
- Part C plans can be HMO’s or PPO’s, so there is a network to work within. Original Medicare allows you to use any physician or facility that accepts Medicare in all 50 states.
- Depending on the plan and your medical needs, a “Zero Dollar Premium” Part C may cost you more overall than Original Medicare with a Supplement. Go over your needs and budget with your agent to make sure you have the plan that fits your specific needs.