Medicare Part C
Medicare Advantage provides Medicare Part A and B coverage –and more.
Medicare Advantage Plans (Medicare Part C) are not supplemental insurance, but rather are stand alone, private health insurance plans that provide Medicare Part A and B coverage. They often also include other value added items and services such as vision, hearing and dental coverage. In most cases, you can join even if you’ve been diagnosed with a pre-existing condition. Medicare Advantage Plans usually have lower copayments than traditional Medicare Plans they are usually limited to certain service areas and often require you to use health care providers in their networks.
A wide variety of plans makes it easy to choose one the fits your specific needs.
Health Maintenance Organization (HMO) plans cover both Medicare Part A and B services but can also offer additional benefits. You will only be able to visit physicians and hospitals that are within the HMO network unless there is an emergency. However, HMOs are often more affordable than traditional Medicare plans.
Preferred Provider Organizations (PPOs) let you use doctors, hospitals, and specialists within the PPO network. However, you are permitted to use health providers outside of the network at an additional cost to you without a referral.
Private Fee for Service (PFFS) let you use any doctor or specialist, as long as they accept the terms, fees, and conditions of the PFFS. The plan chooses how much it will pay for the services. Depending on the plan, PFFS can cost more or less than traditional Medicare plans.
Special Needs Plans (SNP) plans are limited to people with certain diseases, disabilities, or other health needs and customized to fit the needs of that specific group, including people who have diabetes and also include Medicare Part D prescription drug coverage.
Medicare Savings Account (MSA) don’t require you to pay a monthly premium because of their high deductible. However you do have to pay the Medicare Part B premium, as well as Medicare covered services, and after you reach the deductible, the plan will pay for Medicare services. These plans feature a savings account that Medicare will deposit money into for your health care costs. MSA plans don’t include prescription drugs.
Do your research now.
You can only enroll in a Medicare Advantage Plan during certain times of the year, but you’ll remain enrolled in most plans for a year. Copayment amounts vary from plan to plan, so you need to compare plans to find the one that’s right for you. Request a quote today to find out which plan best meets your health care and budget needs.