Medicare Advantage Plans

Understanding Medicare Advantage Plans

Medicare Advantage Plans are health insurance plans that are a part of the Medicare program. If you join one of these plans, you get your Medicare-covered health care through that plan. This coverage can include prescription drug coverage.

In most Medicare Advantage plans, there are extra benefits and lower co-payments than in Original Medicare. However, you have to access care through your primary care physician and go to certain hospitals to receive services.

To join a Medicare Advantage Plan, you must have Medicare Part A and Medicare Part B. You will have to continue to pay your monthly Medicare Part B premium to Medicare. In addition, you might have to pay a monthly premium to your Medicare Advantage Plan for the extra benefits that they offer.

Explanation of Medicare Part A, B, C and D:

• Part A is coverage for “In-Hospital” expenses
• Part B is coverage for “Out-Patient” expenses
• Part C is the Medicare Advantage program which you can choose to participate in or you may choose to obtain a Medicare Supplement instead. (We will discuss both of these options)
• Part D is the Prescription Drug Program portion of Medicare