Medicare Advantage, also referred to as Medicare Part C, is a type of health insurance plan that covers the same benefits that are covered under traditional Medicare Parts A and B. Instead of having two separate plans, Medicare Advantage combines these into one for ease of use. Additionally, if you seek greater coverage, you can opt-in for coverage that doesn’t traditionally fall under the Original Medicare program for a higher premium.
What is Medicare Advantage
Medicare Part C is an appealing Medicare plan that covers everything under Medicare Parts A and B under a single plan with the option to increase coverage with supplemental insurance choices if desired. Under Medicare Parts A and B, people are covered for situations like preventative care, both inpatient and outpatient procedures, medical equipment, and healthcare therapies. If this coverage isn’t enough, additional options are available for dental, vision, hearing, and prescription coverage.
How Much Does Medicare Advantage Cost?
There is no single set cost of Medicare Advantage. Instead, under Medicare Part C are a variety of plans to choose from. Each plan offers you different benefits. Cost also depends on your income. Thus, the premium for Medicare Advantage can significantly vary from plan to plan.
It’s important to note that Medicare Part C is run through private insurance companies with Medicare being the middleman. With this, Medicare will pay the private insurance company what is charged for Medicare Parts A and B, which is $300. Then, after the $300, if there is any remainder, you will pay this as your premium.
Pros of Medicare Advantage
Medicare Advantage is a great program for individuals looking for more choices in their insurance program since there are many programs to choose from. If traditional Medicare Parts A and B don’t cover everything you want in your insurance program, there may be an insurance plan for you under Medicare Advantage. In addition to the personalizing of your Medicare program, Part C allows for an easier and more concise plan than separately receiving Parts A and B.
Learn About the Best Medicare Options for You
If you’re having trouble choosing the best Medicare program for your lifestyle, Your Senior Insurance can help. We’ll discuss your situation and help determine what coverage you’d most benefit from. Call us today for a consultation.