Medicare Advantage Plans, sometimes called “Part C” are offered by private companies approved by Medicare. If you enroll in a Medicare Advantage Plan you will still get Medicare Part A and Part B coverage through your Medicare Advantage Plan, just not from the “Original Medicare”. The rules of Medicare can be confusing, let one of our Health Care Specialists at Landmark Insurance & Financial Group guide you through the Medicare System.
What is Medicare Advantage?
Medicare Advantage Plans cover ALL Medicare services except for hospice care, but can offer additional services such as prescription, vision, hearing, dental, and/or health and wellness programs. Most Medicare Advantage Plans include Medicare prescription drug coverage (Part D). However, if the plan that you choose does not offer a prescription drug plan then you can enroll in a Medicare Part D Plan.
In addition to your Part B premium, you usually pay a monthly premium for the Medicare Advantage Plan. Your out-of-pocket costs depend on:
- Whether the plan charges a monthly premium.
- Whether the plan pays any of your monthly Medicare Part B (Medical Insurance) premium.
- Whether the plan has a yearly deductible or any additional deductibles.
- How much you pay for each visit or service (copayment or coinsurance.
- The type of health care services you need and how often you get them.
- Whether you follow the plan’s rules, like using in-network providers.
- Whether you have Medicaid or get help from your state.
In 2017, the standard Part B premium amount is $134 (or higher depending on your income). However, most people who get Social Security benefits pay less than this amount ($109 on average).
With this in mind, give one of our Health Care Specialist at Landmark Insurance a call today to discuss about switching over to a Medicare Advantage Plan.