Medicare Advantage Plans
Sometimes called “Part C”, these plans are offered by Medicare-approved private companies. If you already have Medicare Part A and Part B, you may choose to enroll in Part C. This Medicare health plan is offered by private organizations that follow a strict set of rules that have been set forth by Medicare and will also provide Hospital Insurance (Part A) and Medical Insurance (Part B).
Medical Coverage
Part C offers more benefits than what the Original Medicare covers. These benefits include hearing, vision, dental services, and often many more which are not covered by the Original Medicare.
Drug Coverage
Anyone who is entitled to Medicare Part A or enrolled in Medicare Part B can join a Medicare Part D prescription drug plan. This can be a stand-alone plan that complements Medicare Part A and Part B coverage, or it can be part of a Part C Medicare Advantage managed care plan that rolls together hospital, medical, and prescription drug insurance.
Cost-Effective Plans
These plans are very cost-effective as they come with little to no monthly premium costs. This can make it a very affordable option for patients who have limited finances.
More than half of eligible Medicare beneficiaries are enrolled in Medicare Advantage in 2024. In 2024, more than half (54%) of eligible Medicare beneficiaries – 32.8 million people out of 61.2 million Medicare beneficiaries with both Medicare Parts A and B – are enrolled in Medicare Advantage plans.
What Kinds of Plans are Included in Part C?
Currently, 5 plans are included in Part C, each of them designed to cover various healthcare needs and requirements. By understanding the differences between these different plans, you may find it easier to pick one that suits your medical needs. These 5 plans are:
Healthcare Maintenance Organizations
Preferred Provider Organizations
Private Fee-for-Service Plans
Medicare Medical Savings Accounts
Special Needs Plans
Frequently Asked Questions
Below are some commonly asked questions about Medicare Advantage Plans:
Yes, you can join Medicare Part C (Medicare Advantage) if you have a pre-existing condition. Medicare Advantage plans are offered by private insurance companies, and they don’t reject enrollment based on pre-existing conditions. However, coverage levels and costs can vary between companies.
Part C is region-specific. If you travel temporarily, your plan may cover emergency and urgent care, but if you move out of the plan’s service area permanently, you’ll need to switch to a plan available in your new area.
Yes, you can have other types of insurance, such as employer-provided coverage, but the coordination of benefits will vary. It’s important to understand how your Part C will work with other insurance.
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