What is a Medicare Advantage Plan?

A Medicare Advantage plan serves as an alternative to Original Medicare (Part A and Part B). When you enroll in a Medicare Advantage plan (also called Medicare Part C), you receive your Part A and Part B benefits through a single plan sold by a private insurance company.

Many Medicare Advantage plans may also offer additional benefits that aren’t covered by Original Medicare, such as prescription drug coverage and hearing, dental, and vision benefits.

The Medicare Advantage program has seen a surge in popularity in recent years. Here we explore how Medicare Advantage plans work, some of the benefits they may offer, the costs involved and how you can enroll in a Medicare Advantage plan.

Man at the pool

What do Medicare Advantage plans cover?

By law, Medicare Advantage plans must provide at least the same coverage as Original Medicare (with the exception of hospice care, which beneficiaries still receive through their Medicare Part A benefits).

As mentioned above, many Medicare Advantage plans may offer their own set of extra benefits not covered by Original Medicare.

Some of the most common additional benefits that may be offered by Medicare Advantage plans can include coverage for:

The list of potential benefits offered by Medicare Advantage plans continues to grow. Starting in 2019, new benefits may include a range of services and items, such as home meal delivery services, bathroom grab bars, wheelchair ramps and more.

How much do Medicare Advantage plans cost?

Unlike Original Medicare, Medicare Advantage plans are sold by private insurers. This means that the cost of plans can vary from one provider or location to the next.

In 2019, Medicare Advantage plan premiums are expected to average $28.00 per month. Some Medicare Advantage plans feature $0 premiums, though $0 premium plans may not be available in all locations.

Deductibles and coinsurance or copayment costs will also vary among Medicare Advantage plans. Some plans may offer $0 deductibles, but these plans may not be available in all areas.

How do you enroll in a Medicare Advantage plan?

You must manually enroll in a Medicare Advantage plan.

These plans are sold by private insurance companies all over the U.S., and plan selection will differ from one state to another. To compare Medicare Advantage plans that may be available where you live, call a licensed insurance agent at TTY Users: 711 24 hours a day, 7 days a week.

To enroll in a Medicare Advantage plan, you must first be enrolled in both Part A and Part B of Medicare. There are only certain times of the year in which you may sign up for a Medicare Advantage plan, so be sure to familiarize yourself with the various enrollment periods.

Should I sign up for a Medicare Advantage plan?

The share of Medicare beneficiaries signing up for Medicare Advantage plans is steadily rising. In 2019, it’s expected that as many as 37 percent of the nearly 60 million people on Medicare will be enrolled in a Medicare Advantage plan. In 2005, that number was fewer than 6 percent.1

Many people who sign up for a Medicare Advantage plan choose to do so in order to get more value out of their coverage. If you wear eyeglasses or hearing aids, Original Medicare typically doesn’t help pay for those items. But a Medicare Advantage plan that offers coverage for vision and hearing care could help you pay for some of these costs.

Contact a licensed insurance agent today to learn more about how the Medicare Advantage program works and to compare plans that may be available in your area. Call TTY Users: 711 24 hours a day, 7 days a week to get started.

 

1 Kaiser Family Foundation. Medicare Advantage. (Oct. 10, 2017). Retrieved from https://www.kff.org/medicare/fact-sheet/medicare-advantage.

Copyright © 2019 TZ Insurance Solutions LLC. All rights reserved.

MedicareAdvantage.com is a website owned and operated by TZ Insurance Solutions LLC. TZ Insurance Solutions LLC and TruBridge, Inc. represent Medicare Advantage Organizations and Prescription Drug Plans having Medicare contracts; enrollment in any plan depends upon contract renewal.

Plan availability varies by region and state. For a complete list of available plans, please contact 1-800-MEDICARE (TTY users should call 1-877-486-2048), 24 hours a day/7 days a week or consult www.medicare.gov.

Medicare has neither reviewed nor endorsed this information.