A Medicare Advantage Plan is a Medicare health insurance plan option. Medicare Advantage Plans, sometimes called “Part C”, are offered by private insurance companies that are approved by Medicare.
A Medicare Advantage Plan (associated with HMO or PPO networks) are a Medicare health plan choice you can make instead of Medicare Supplement.
Medicare Advantage Plans, sometimes called “Part C” or “MA Plans,” are offered by private companies and offer Medicare approved plans.
If you join a Medicare Advantage Plan, the plan will provide coverage for Part A (Hospital Insurance) and Part B (Medical Insurance) and often include Part D prescription coverage. Medicare Advantage Plans may offer extra coverage, such as vision, hearing, dental, and/or health and wellness programs.
The Center for Medicare Services pays a monthly fixed dollar amount to the insurance companies that offer Medicare Advantage Plans. The insurance companies must follow minimum benefit coverage requirements set by Medicare. However, each Medicare Advantage Plan (as set by the insurance company), is able to charge different copay, coinsurance, and out-of-pocket maximum amounts for each service offered. For example,some plans require referrals to see specialists, each plan has a network of physicians to choose from, fitness benefits, vision, dental and hearing benefits may be included. These requirements update in January of each year.
In addition to your Medicare Part B premium, you usually pay a monthly premium to the insurance company for the plan itself. That said, there are a number of zero premium ($0 premium) options available to consumers. In addition to the plan premium and Part B premium, each Medicare Advantage Plan can charge different copay, coinsurance, and out-of-pocket maximum amounts for each service offered. The combination of factors changes your true overall cost for a Medicare Advantage plan.
Costs to consider before purchasing a plan:
Not all Medicare Advantage Plans work the same way. Before you enroll into a plan, please take the time to find and compare all available Medicare plans in your county. Our agency is here to provide the information to you at your request, or you may use our enrollment tools located on each carrier page and quote page.
Medicare Advantage (MA) plan options are limited by the county you reside in. They are available with prescription drugs (MAPD), and without prescription (MA) benefits.
Annual Enrollment Period (AEP) is a specific time each year when you can change plans. During the AEP you can switch from one you switch from one plan to any other plan that is available in your county.
NOTE: If you do not select a plan with prescription benefits (MA) at your enrollment, you will not be able to make a change until the next AEP to a plan which cover prescription drugs (MAPD).
During the AEP you can also switch from a Medicare Supplement (Medigap) plan with or without a Prescription drug plan (PDP) to an MA or MAPD plan. This is also the time where you can move from an MA or MAPD plan to a Medicare Supplement. To do this you will need to complete an application with a health questionnaire. AEP starts October 15th and ends on December 7th for a January 1st effective date. Other than this time, you would need to have a Special Enrollment Period (SEP) available to you.Acronyms Index
Important details and dates
About the Information Presented