Medicare Advantage plan is sometimes referred to as Medicare Part C. When you join a Medicare advantage; it is Medicare-approved private health plan for people who are eligible for Medicare. When a person joins a Medicare Advantage, they are still enrolled in the Medicare program.
Medicare Advantage plan will provide beneficiaries with all of their original Medicare Part A (Hospital Insurance) and Medicare Part B (Medical Insurance) coverage and it must cover medically necessary services. Part B premiums may vary as well, and the plan can charge different amounts depending on the insurance company.
The plans provided will generally offer other additional benefits that may include Medicare Part D (Medicare Prescription Drug Plan Coverage). These plans are offered and will have networks, which means beneficiaries may see certain doctors facilities or suppliers and go to certain hospitals in their plans network for the insurance company.
Medicare Advantage can save you money, because out-of-pocket costs in these plans can be lower than the plans under the Original Medicare. However, the costs of these private fee for service plans provided will vary by the services you will use and the type of plan the beneficiary will purchase. Each plan under Medicare Part C coverage will have different rules for how the services you will receive and will charge different out-of-pocket costs. Medicare Advantage plans may also have different rules regarding a referral to see a specialist.
The monthly premium will vary and will depend on what is offered by private insurers you choose and the state you live in. It will also depend on whether you choose an PPO or HMO for you Medicare Advantage coverage. Those with Part C coverage will typically incur a small copayment when they visit a doctor or other health care provider, while those with the Original Medicare will pay 20% or more of the cost for services. When using a Part C or Part D plan, you will continue to pay monthly premium to Medicare in addition to your Part C and Part D plan provider.
If a person is enrolled in a Medicare Advantage plan, any Medigap policy they may have is useless because Medigap will not pay, if services fall under the Medicare Part C coverage and are part of the Medicare Part C costs.
To join Medicare Advantage (Part C), which is optional, you must already be enrolled in both Part A and Part B. Enrollment in Part D (Prescription Drug Coverage) which is also optional, you must be already enrolled in Part A and Part B. Since several Part C plans will include Prescription drug coverage, and if you opt for this plan you might not need Part D plan.
What is Medicare Part C also known as a Medicare Advantage?
Medicare Advantage plans which is also referred as Medicare Part C which are Medicare-approved private health insurance plans. These are for individuals who are enrolled in Original Medicare, Part A and Part B. You are still in the Medicare program when you join an Medicare Advantage plan and will need to continue paying your Part B premium.
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