Medicare Advantage

Medicare Advantage Plans, sometimes called “Part C” or “MA Plans,”is a type of Medicare health plan offered by a private company also referred to as a carrier that contracts with Medicare to provide you with all your Part A and Part B benefits. Medicare Advantage Plans include Health Maintenance Organizations, Preferred Provider Organizations, Private Fee-for-Service Plans, Special Needs Plans, and Medicare Medical Savings Account Plans. If you’re enrolled in a Medicare Advantage Plan, Medicare services Part A (Hospital Insurance) and Medicare Part B (Medical Insurance)  are covered through the plan and aren’t paid for under Original Medicare. Most Medicare Advantage Plans offer prescription drug coverage.

Medicare pays a fixed amount for your care each month to the companies offering Medicare Advantage Plans. These companies must follow rules set by Medicare.

However, each Medicare Advantage Plan can charge different out-of-pocket costs and have different rules for how you get services (like whether you need a referral to see a specialist or if you have to go to only doctors, facilities, or suppliers that belong to the plan for non-emergency or non-urgent care). These rules can change each year. Therefore the coverage can change for the Medicare Advantage plans each year , similar to how your employer plans might change each year and the need for annual enrollment changes. If you are on a Medicare Advantage plan you will want to have the annual review to ensure you are on the optimal plan with benefits that best match your need.  A licensed independent broker is an excellent resource during this time. Currently the dates are October 15-December 7 yearly for the benefits starting the following January