Did you know that Medicare Advantage, also known as Medicare Part C, is a type of Medicare plan that encompasses each of the other parts of Medicare in an all-in-one option? If you enroll in a Medicare Advantage plan, you will receive coverage from Medicare Part A (hospital insurance), Medicare Part B (medical insurance), and in most cases also Medicare Part D (drug coverage).
For the most part, Medicare Advantage plans offer additional coverage beyond what Parts A and B would cover, such as vision, hearing, and dental programs. Some even offer coverage for general health and wellness items like personal fitness, or transportation to medical appointments. To learn more about the specifics of a plan that interests you, it is best to contact the plan provider. The rules regarding referrals and what types of physicians you can see can vary not only between plans, but from year to year within the same plan. Typically, Medicare Advantage plans will require you to see an in-network physician first.
If you have a chronic illness you might want to shop around for a Medicare Advantage plan that offers benefits specifically for certain enrollees who are experiencing your illness, tailored to treat your specific condition.
As with other Medicare insurance plans, the premium and other out of pocket costs will differ depending on your financial health and which plan you select. You typically need to seek in-network care first and obtain specialist referrals, so the costs for a bundled Medicare Advantage plan may be lower than for the sum total of purchasing Parts A and B separately.
You may need to pay a monthly premium for the overall Medicare Advantage plan plus an additional monthly premium for Part B coverage, even though the plan is bundled. There will be, however, an annual limit on your total out-of-pocket costs. Unlike other Medicare plans, if you choose a Medicare Advantage plan, you cannot purchase supplemental coverage.
For more information on choosing a Medicare Advantage plan or another Medicare coverage option, please contact our office to schedule an appointment.