- Do you prefer to pay less up front in monthly premiums?
- Are you comfortable with covering out-of-pocket costs as they arise?
- Do you prefer having benefits like vision, dental, hearing or prescription drug coverage all in one plan?
- Are you comfortable with being limited to seeing doctors in a specific network?
What Are the Benefits of Medicare Advantage (Medicare Part C)?
Medicare Advantage, commonly referred to as Medicare Part C, replaces Medicare Parts A and B to consolidate coverage under one easy-to-manage policy. Medicare Advantage plans are Medicare-approved private health insurance plans that provide at least the same amount of coverage as Original Medicare with max out of pocket protection.
Most Medicare Advantage plans surpass Original Medicare’s basic hospital and medical benefits by including additional coverage for vision, dental, hearing, orthopedic care, and wellness programs. Most Medicare Advantage plans will also cover Medicare Part D, or prescription drug coverage. As a result, coverage provided by most Medicare Advantage plans may be more comprehensive than Original Medicare itself and allows you the opportunity to better manage all aspects of your health.
Part C Reduces the Cost of Your Healthcare Coverage
Medicare Part C can help keep more money in your pocket by limiting many of the costs associated with Medicare coverage. Many Medicare Advantage plans have premiums as low as $0 per month. However, you may still be responsible for your Medicare Part B premium. Plans that offer a $0 premium may require a higher deductible than a plan with a nominal premium but provide an option for the budget-minded or those in relatively good health.
Medicare Advantage sets caps for other out-of-pocket expenses, such as copays and coinsurance. While deductibles are not standardized across Medicare Advantage providers, some plans don’t require you to pay a deductible at all before the plan begins paying for your healthcare.
Many Medicare Advantage Plans Provide Additional Benefits and Coverage
Most Medicare Advantage plans provide coverage for Medicare Part D, or prescription drug coverage, and they may also get an allowance to cover things such as over-the-counter, or OTC, items. This is most often offered through partnerships with local pharmacies or through home delivery services.
In addition to Medicare Part D coverage, many Medicare Advantage plans provide coverage for dental, vision, and hearing care. Some insurers will even offer coverage for the cost of caregiver training and in-home support.
Many Medicare Advantage plans also cover lifestyle and wellness programs. These programs encourage fitness and healthy habits and provide you the opportunity to manage and improve your overall health and well-being at no extra cost.