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Is A Part C Plan Right For Me?

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There are two main branches when picking a Medicare plan: Original Medicare vs. Medicare Advantage Plans.

 

Medicare Advantage Plans, also called Medicare Part C, are an alternative to Original Medicare. Private insurers offer these plans. Medicare is a federal health insurance plan offered to people:


● 65 and older
● Younger people with disabilities
● Younger people with End-Stage Renal Disease.

 

MEDICARE VS. MEDICARE ADVANTAGE


The difference between Medicare and Medicare Advantage can be confusing at first. Keep reading to learn whether or not Medicare Advantage is right for your medical needs.


STRUCTURE OF MEDICARE


Medicare has four parts: Parts A, B, C, and D.

Part A is mandatory and covers inpatient healthcare services like hospitalization.
Part B covers outpatient care, like doctors’ office visits.

Part B is technically optional, but most people get it because it covers a vital part of healthcare. You must also purchase Part B if you want to buy Part C.

Part C refers to Medicare Advantage Plans. These plans are entirely optional.

Part D covers prescription medications. While Part D is also optional, many people enroll in a Part D plan because prescription medications are expensive.

All plans mentioned above will incur a late fee if you do not enroll when you are first eligible during the Initial Enrollment Period.


MEDICARE ADVANTAGE OVERVIEW


Private insurers offer Medicare Advantage plans. The first step is to enroll in Medicare Parts A and B to ensure that you don’t pay out-of-pocket for essential healthcare services.

Next, you can enroll in a Medicare Advantage Plan. If you need help finding the right company and plan that best suits your needs, we’re here to help.

After your application is accepted, you will pay a monthly premium.

 

ADVANTAGES OF MEDICARE ADVANTAGE


People choose to enroll in Medicare Advantage plans because of the bonus features.
For example, many Medicare Advantage insurance plans cover
● Vision
● Dental
● Hearing

Original Medicare does not cover these critical insurance needs. Some plans also have bonuses like:

● Gym membership reimbursements
● Transportation to appointments
● Prescription drug coverage

The features vary depending on the insurance company and the plan.

 

DISADVANTAGES OF MEDICARE ADVANTAGE


There are two main disadvantages associated with Medicare Advantage plans.

The first is that you are adding at least one more premium to your monthly premium total costs. Before you can enroll in Medicare Advantage, you have to enroll in Medicare Parts A and B.

Most people do not have to pay anything for Medicare Part A, but Part B does have a premium. In 2021, that premium is $148.50 per month. *Rates are subject to change. Please get in touch with us for the current rates.

However, the premiums associated with Medicare Advantage can vary greatly, and some plans will have a premium as low as $0.

If your plan does not include prescription drug coverage and you want it, you must add Part D, a third premium.
The second main disadvantage of Medicare Advantage is that it may limit your choices for a provider. Your insurance may not be as universally accepted as Original Medicare.

Navigating the world of Medicare Advantage can be confusing. To learn whether or not this option is right for you, give us a call today!

ABOUT THE AUTHOR

Dale Wondisford, Medigap Agent

13 Years experience helping hundreds of families get the best insurance policy to meet their needs.

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