Medicare Advantage, also called Medicare Part C, is a private-plan alternative to receiving your Medicare Part A and Part B benefits directly through Original Medicare.
Medicare Advantage plans are offered by private insurance companies approved by Medicare.
Plans must cover Medicare-covered Part A and Part B services and may include additional benefits. Most Medicare Advantage plans also include prescription drug coverage.
Instead of receiving covered Part A and Part B services directly through Original Medicare, you receive those Medicare benefits through your Medicare Advantage plan.
You still have Medicare.
But the private plan administers your Medicare-covered benefits.
A $0 Medicare Advantage premium doesn’t mean healthcare is free.
You still generally pay your Medicare Part B premium and may have:
Depending on the type of Medicare Advantage plan, you may need to use participating providers.
Certain services may also require prior authorization from the plan.
Medicare Advantage Explained
Medicare Advantage can look very attractive upfront.
Many plans have low or even $0 additional premiums and may include extra benefits.
But I don’t think people should evaluate Medicare Advantage based solely on premium and dental benefits.
I want them to understand:
Which doctors are in the network?
What hospitals are in the network?
What services require authorization?
What could you pay out of pocket in a bad health year?
That’s the comparison that matters.
Medicare Advantage plans cover Medicare-covered cancer treatment, including qualifying chemotherapy, but plan networks, prior authorization rules and out-of-pocket costs can become especially important when someone has cancer.
Medicare’s Annual Enrollment Period, also commonly called Medicare Open Enrollment, runs, October 15 through December 7 each year.
