Part C of Medicare is known as Medicare Advantage. It is offered by private insurance providers who have been approved by Medicare. One can sign up for a Medicare Advantage plan only if they enrolled in Part A and B and continue to pay premiums for Part B. The plan serves as an alternative to traditional Medicare coverage and comes with a few benefits. One can choose from various plans available within the service area.

Benefits
Medicare Advantage (MA) is a healthcare plan that combines the coverage offered by Medicare Part A and B while allowing one to choose private insurance companies that offer additional benefits. MA plans also have lower premiums and wider coverage for medical services. Here are the main benefits offered by an MA plan:

• Covers hospitalization
• Covers hospice care and doctor visits
• Prescription treatment coverage
• Preventive care coverage
• Vision, dental, and hearing coverage
• Specific services like diagnostic tests and mental health may be covered

Key features and types
MA also offers multiple types of coverage in one plan and allows one to personalize the plan structure based on their family’s specific health needs. This helps one avoid paying for coverage they may not need. Many MA plans come with zero or very low premiums, low deductibles, and limits on maximum out-of-pocket expenses. MA plans offer coordinated medical care, so the provider communicates with healthcare experts and facilities without any action required by the policyholder. One can choose from the following types of MA healthcare plans:

Health maintenance organization (HMO): Here, one can get coverage for in-network doctors. The plan may call for referrals if one wants the services of specialists.

Preferred provider organization (PPO): These plans allow one to avail of medical services from in-network and out-of-network doctors; however, out-of-network services can be more expensive.

Private fee-for-service (PFFS): Here, the providers agree to pay set rates for healthcare services while offering flexibility in choosing the doctor.

Special needs: These Medicare Advantage plans provide coverage for specific conditions which need long-term treatment.

Medical savings account: This combines a medical savings account with a high-deductible health plan.

Things to consider
One can use Medicare’s online plan-finder tool, which provides information on Medicare Advantage Plans. Before signing up for an MA plan, one should understand the rules and read the plan documents, as they may lose some rights and coverage options they previously enjoyed. For example, choosing Medicate Advantage can make one ineligible for receiving employer-based coverage. So here are a few things to consider:

Last year’s healthcare expenses: This number can help one set a budget, calculate feasible out-of-pocket expenses, and determine the annual premium amount they can afford.

Prescriptions: One should check if their Medicare Advantage plan covers the prescriptions they need. Here, one can check the list of prescription options or formulary before signing up for the plan.

Type of coverage: One should look for plans that cover the chronic conditions and dental, hearing, and vision issues that are common among people over 65.

Facilities covered: Using the plan-finder tool, one can check if their preferred hospitals are part of the provider network.

Cost
The average monthly premium for MA plans is $18. The overall cost includes copay or coinsurance, along with the premium for Part B. MA caps the maximum out-of-pocket expenses, with the current limit being $8,300, which can be higher if choosing out-of-network doctors.