Medicare Advantage

Medicare Advantage, also known as Medicare Part C, is an alternative to Original Medicare offered by private insurance companies approved by Medicare. These plans bundle Part A (hospital), Part B (medical), and usually Part D (prescription drugs) into a single plan. Many Medicare Advantage plans also include extra benefits like dental, vision, hearing, and fitness programs.

Many Medicare Advantage plans have $0 monthly premiums beyond what you already pay for Medicare Part B. However, costs vary by plan and location. You may have copays, coinsurance, or deductibles when you use services. A licensed agent can help you compare the total cost of ownership for plans available in your area.

Most Medicare Advantage plans have provider networks, such as HMO or PPO networks. With HMO plans, you generally need to use in-network doctors. PPO plans offer more flexibility to see out-of-network providers, though at a higher cost. It's important to verify that your doctors and hospitals are in a plan's network before enrolling.

You can enroll during your Initial Enrollment Period when you first become eligible for Medicare, during the Annual Enrollment Period from October 15 through December 7 each year, or during the Medicare Advantage Open Enrollment Period from January 1 through March 31. You may also qualify for a Special Enrollment Period due to certain life events like moving or losing other coverage.

Many Medicare Advantage plans include benefits not covered by Original Medicare, such as routine dental care, eye exams and eyewear, hearing aids, gym memberships and wellness programs, over-the-counter allowances, transportation to medical appointments, and meal delivery after hospital stays. Benefits vary by plan and location.

Yes, you can switch to a Medicare Advantage plan during the Annual Enrollment Period each fall. If you are already enrolled in a Medicare Advantage plan, you can switch to a different plan or return to Original Medicare during the same period. A licensed agent can help you understand the implications of switching and find the best option for your situation.