What is Medicare Part C?
Founded as a private health insurance alternative to the original Medicare plan, Medicare Part C provides a one-stop shop for policyholders. Also known as Medicare Advantage, Part C provides coverage by combining different parts of Medicare into one single plan.
Typically, when signing up for Medicare Part C, you will still need to enroll in Part A and Part B, pay Part B’s premium, choose a Medicare Advantage plan, and sign up with a private insurer. Depending on which private insurer you decide to go with, they may provide additional services not included under Original Medicare, including dental and vision care.
The two options under Medicare Part C that you will need to decide between are whether to go with an HMO (health maintenance organization) plan or a PPO (preferred provider organization) plan. With HMOs, you will normally have the option to choose a primary care doctor that will direct your care. On the other hand, PPOs utilize a network of doctors and facilities that you can visit without a referral. Should you need or choose to go outside of the network, you may have to pay more.
What does Medicare Part C Cover?
Many people are familiar with what Original Medicare, Part A and Part B, have to offer, but aren’t as familiar with what Medicare Advantage, Part C, brings to the table. The good news is that for everyone who is a fan of the Original Medicare plan, you will still receive those benefits under Part C. Both plans also provide coverage for medical and hospital costs. However, there are other benefits you will get from Medicare Advantage that aren’t included in Part A and Part B.
One of the biggest differences that policyholders will notice is that many Medicare Part C plans will provide coverage for some dental, vision, hearing, and prescription drugs, where Original Medicare won’t. Another key advantage of Part C is that there is an out-of-pocket maximum each year. This means that as soon as you hit a certain dollar amount, outlined in your plan, you won’t have to pay anything for most services. One of the biggest differences may come in the form of copays. With Original Medicare, you have to pay something called coinsurance. This means that you will be responsible for paying 20 percent of the services provided to you. Medicare Advantage, on the other hand, uses copays to provide a fixed cost for services. Typically, the copays will be significantly lower than the cost of coinsurance.
How We Can Help
For the past 20 years, Hitcho Insurance has specialized in supporting clients and their families during the process of selecting insurance coverage. Picking out what plans and policies make the most sense can be a daunting task and that is why our agents offer a free consultation to help guide you along in the process. To get started and request a consultation today, give us a call at (610) 694-9435.
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