What is Medicare Advantage?

One of the biggest benefits to choosing Medicare Advantage is that some plans will allow you to choose coverage for things such as routine vision care, hearing aids, dental care, fitness club memberships, and prescription drug coverages that Parts A and B won’t. Another positive for Medicare Advantage is that more times than not, the plans will cost you less money. When you enroll in Medicare Part C, you will continue to pay the Medicare Part B premium and an additional premium. Depending on which insurer and plan you go with, the medicare Advantage premium could be as low as $0. Cost-sharing is also typically less under Medicare Advantage. 

Medicare Part C also has the advantage of managing care through networks of contracted health care providers. With these policies, you will either be part of a Health Maintenance Organization Plan or a Preferred Provider Organization Plan. Lastly, with these types of plans, your maximum out-of-pocket expenses will be limited to a specific amount each year.

Even with all the added benefits, there are a couple of things to keep in mind when selecting Medicare Advantage. One of the biggest differences between Original Medicare and this plan is the choices you have in your doctor or facility. With Part A and B coverage, you have the freedom to go to any doctor or facility that will accept Medicare benefits. With Part C, you will be restricted to a provider network that will be selected for you. You still have the option to go out of network, but that could result in higher costs. Also, with Medicare Advantage, you will need your primary care doctor to sign a referral before the plan will pay for you to go to any specialist.