Medicare Advantage

Medicare Advantage, also known as Part C, is a type of health insurance plan offered by private companies that contracts with Medicare to provide all Part A and Part B benefits. These plans often include additional coverage, such as dental, vision, and wellness services, which aren't typically covered by Original Medicare. For example, a Medicare Advantage plan may cover routine dental visits and eyeglasses, potentially saving beneficiaries hundreds of dollars each year.

Many beneficiaries mistakenly believe that enrolling in a Medicare Advantage plan means they lose their Medicare benefits. In reality, they still retain their Medicare benefits, but receive them through the private plan. Additionally, some think that all Medicare Advantage plans have high costs, but many offer low or even $0 premiums. For instance, some plans may have a zero-dollar premium but require co-pays for certain services, like a $20 co-pay for a specialist visit.

When considering a Medicare Advantage plan, it’s crucial to compare options carefully. Look for plans that fit your healthcare needs and budget. For example, if you frequently visit specialists, a plan with lower specialist co-pays could save you money. Keep in mind that some plans have networks that restrict which doctors and hospitals you can use, so ensure your preferred providers are included.

Key takeaway: Evaluate multiple Medicare Advantage plans during the enrollment period to find one that offers the best coverage and cost for your specific needs, as benefits can vary significantly from one plan to another.