What is a Medicare Advantage plan? Also referred to as Medicare Part C this an alternative to original Medicare. Medicare Advantage plans are available through private insurance companies that contract with Medicare.
To be eligible for one of these plans, you must have:
- Original Medicare(Part A and B).
- Live in the service area of the plan that you are looking to purchase.
- Not have end-stage renal disease(with a few exceptions).
These plans must, by law, provide at least the same level of coverage as Original Medicare(Part A and B). Most of these plans also have prescription drug coverage, though there a some that do not, which is why it is important to have a good understanding of the plan you are considering. These plans may also offer additional benefits such as vision , hearing or dental coverage. If you do want prescription drug coverage, you should not enroll in a separate Medicare Prescription Drug plan.
The costs of these plans will vary from plan to plan. There are many factors to consider when purchasing a plan such as:
- The monthly premium for each plan. Some may be as low as $0 a month.
- Each plan will have a different annual deductible amount.
- Each plan will have a different maximum out of pocket limit that you will need to consider.
- Do you need vision, dental or vision coverage?
- Are your prescription drugs covered under the plan? What about your doctors?
A Medicare Advantage Plan may be a good choice for you, but careful review of your budget and health needs will help guide you to the right choice. Please reach out to me, Bob Jeffreys, if you would like help in reviewing what options you have. As a licensed insurance agent, I can help provide information that will help you make an informed decision.