Is Medicare Advantage Right for You?
Everything you need to find the right Medicare Advantage or Part C plan
Reviewed by: Linda Taylor, Licensed Insurance Agent, ChHC, CISR. Written by: Nicole Ritchie, Licensed Insurance Agent
Medicare Advantage plans are private insurance and provide Part A and Part B coverage. Most Medicare Advantage plans include Part D along with dental, vision, and hearing benefits.
How It Works
Medicare Advantage (Part C) replaces Original Medicare (Part A & B), but offers the same Part A & B benefits or coverages as Original Medicare. Along with receiving Part A & B benefits, Medicare Part C often bundles your benefits with additional ones like dental, hearing, vision, and prescription drug coverage. When you have Medicare Part C, your Part C benefits ID card replaces your Medicare ‘Red, White & Blue’ card at every visit.
Along with Medicare Parts A and B, most Medicare Advantage plans include Part D, and extra health and wellness benefits. Most Medicare Advantage plans can offer lower monthly premiums and out-of-pocket maximums.
How to Enroll
You can enroll through Independent Agencies like Medicare Expert, private health insurance companies, or by mailing a paper application to the plan you want to join.
What is Medicare Advantage or Part C?
Medicare Advantage (Part C) is private health insurance that complies with Medicare guidelines. Part C provides Part A and B coverage, and extra health and wellness benefits and most include a Part D prescription drug plan.
Medicare Advantage (Part C) replaces Original Medicare, but offers the same Part A & Part B benefits as Original Medicare. Keep in mind, you will need to be enrolled in both Part A & Part B to be eligible for Part C. Additionally, you will need to continue to pay the Part B premium.
Is Medicare Advantage Right for You?
Depending on where you live, it is likely that you’ll have several Medicare Advantage plans to choose from. It’s important to know your health needs before you compare your plan options. It’s essential that your doctors and prescriptions are covered in your Medicare Advantage plan. A GoHealth licensed insurance agent can help you compare plans to find one that meets your needs.
Is Medicare Advantage Better Than Original Medicare?
Medicare Advantage and Original Medicare offer Part A and Part B, but your health needs and location can affect the benefits you receive from each. Likewise, your costs can vary based on whether you choose a Medicare Advantage plan or Original Medicare. Here’s a look at some of the pros and cons of a Medicare Advantage plan.
Medicare Advantage Pros
- Along with receiving Part A & B benefits, Medicare Part C often bundles your benefits with additional ones like dental, hearing, vision, and prescription drug coverage.
- Medicare Advantage premiums can be more affordable than Original Medicare. Some Medicare Advantage plans offer $0 premiums and lower copayment amounts than Original Medicare.
- Medicare Advantage plans offer an out-of-pocket maximum. Once you reach the maximum amount for out-of-pocket cost sharing, your plan will pay 100% of your costs for the remainder of the plan’s calendar year. Original Medicare does not have an out-of-pocket maximum. You will always be responsible for at least 20% of the cost of services.
Medicare Advantage Cons
- Medicare Advantage networks may require a doctor’s referral for specialists.
- Medicare Advantage plans are available based on location, with in-network providers and facilities. Services outside of the network generally are not covered by the plan.
- Original Medicare’s provider network extends across the U.S. anywhere Medicare is accepted.
Medicare Advantage vs. Medicare Supplemental Plan
When Original Medicare misses out-of-pocket expenses like copays, co-insurance and deductibles, Medigap (private insurance) will pay most of what’s left in the gap.
However, bundled benefits make Medicare Advantage (Part C) plans a popular choice. Most Medicare Advantage plans bundle Part A and Part B with Part D and extras benefits like vision, dental, and hearing.
Keep in mind, local/regional networks limit where you can use your Medicare Advantage plan. So if you like to travel around the U.S. during the year, Original Medicare with a Medigap plan may be the right choice for you.
One thing to keep in mind about a Medigap and Medicare Advantage plan:
You cannot enroll in both plans. You must choose Original Medicare and add Medigap coverage or instead choose a Medicare Advantage plan.
What Will Medicare Advantage Cost?
Let’s take a look at Part C cost information to consider:
- There are several options when choosing a Medicare Advantage plan. Selecting the right plan for your needs is critical.
- Typically, Medicare Advantage plans have a monthly premium but some Medicare Advantage Plans do not have premiums.
Don’t forget general healthcare costs when you select your plan. Typical cost factors include:
- Annual deductible, copayment, co-insurance and out-of-pocket maximum amounts of all services or needs.
- Is your current provider in the plan’s network of providers? Call your provider’s office or a Medicare Expert team member to find out.
- Consider your care plan and visit frequency.
- Associated costs for additional needed benefits.
Would you like help calculating the costs? You can schedule a free consultation with a Medicare Expert online now or give us a call at (800) 247-9889.
How Can I Enroll in Medicare Part C?
In order to enroll in a Medicare Advantage plan, you must first be enrolled in Medicare Part A and Part B through Social Security. Then you should contact a private insurance company to enroll in Medicare Advantage, or you can enroll by mail after completing paper enrollment forms. You can also contact a licensed Medicare Expert agent with Nevin and Witt, who will walk you through the enrollment process and answer any questions about finding the right plan for you.
Would you like a Medicare Expert to provide you with a free Medicare Advantage consultation? You can schedule an appointment online now or call (800) 247-9889 and ask to speak with a Medicare Expert.