Medicare Advantage / Medicare Part C
Medicare Part C, otherwise referred to as Medicare Advantage is one way to get your Medicare Benefits.
These plans work similarly to what your group employer plan did. It has copays, co-insurance, and deductibles that are paid. They also, unlike Original Medicare give you maximum out-of-pocket protection.
The biggest difference is the cost. You will still be required to pay your part B premium, however many of these plans have low to $0 monthly premiums. Some will even reduce the amount you pay for your Medicare Part B Premium.
Most of the time to have drug coverage you must choose a medicare advantage plan that contains drug coverage. Exceptions will be listed below.
Plan Types
Medicare Advantage plans come in serval options and many times they include your drug coverage:
Health Maintenance Organization (HMO) - HMOs are your typical plans, just like with your former employer plans, they have networks that you must use, and they require referrals.
One thing to keep in mind is the HMOs typically have richer benefits than other plan types.
Preferred Provider Organization (PPO) - Again similar to your former employer style plans; PPO's have networks of doctors, but they allow you to have coverage using doctors that are not in-network as well.
Even though you are covered out-of-network, you should expect to pay more for out-of-network providers than you would at an in-network provider.
Private-Fee-For-Service (PFFS) - PFFS plans allow a little more freedom as you can see any doctor that takes Medicare, providing that the doctor agrees to the plan's terms and conditions before seeing you.
These plans sometimes include drug coverage, but if there is a PFFS in your area that does not contain drug coverage, you may purchase a separate drug plan.
Other Options Not available in most areas
There are also Cost Plans and MSA Plans in select areas of the United States. These plans are not available
in most areas.
Additional Benefits
One thing that is unique to Medicare Advantage plans is the additional benefits. As you know, Medicare does not cover dental, vision, and hearing benefits. one way to get these covered is through a Medicare Advantage plan. While in most cases, it's primarily preventative type services, some plans have more robust coverage. Here are some other benefits that Medicare Advantage plans offer.
Over-the-Counter items allowance - If the plan has this benefit, you have an allowance that you can use to pay for over-the-counter drugs and items such as Tylenol, toothbrushes, toothpaste, etc. When you are on a fixed income, every bit helps.
Gym Memberships - We have all heard the old adage, "A body in motion stays in motion." Taking advantage of no or low-cost gym memberships in the plans that offer it can help you stay healthy and active longer.
Transportation benefits - There may be times that you cannot drive, or get yourself to the doctor; fortunately, some plans include some transportation trips to and from the doctor.
Other benefits are sometimes offered, but the ones above are the most common and frequently used. Check the plans in your area to see which benefits are offered to you. Or we can help you, call 1-855-855-8301, and speak to one of our licensed agents, or use the live chat feature on the bottom right side of our site. We look forward to helping you be covered and have an enjoyable and carefree retirement.