Medicare Advantage Part C
Medicare Advantage Plans Part C
A type of Medicare health plan offered by a private company. That contracts with Medicare to provide you with all your Part A and Part B benefits. Because Medicare Advantage Plans include Health Maintenance Organizations, Preferred Provider Organizations, Private Fee-for-Service Plans, Special Needs Plans, and Medicare Medical Savings Account Plans. Therefore If you’re enrolled in a Medicare Advantage Plan, most Medicare services are covered through the plan and aren’t paid for under Original Medicare. Most importantly Medicare Advantage Plans offer prescription drug coverage.
How do Medicare Advantage Plans work?
Therefore Medicare Advantage Plans, sometimes called “Part C” or “MA Plans,” are offered by private companies approved by Medicare. If you join a Medicare Advantage Plan, you still have Medicare. You’ll get your Medicare Part A (Hospital Insurance) and Medicare Part B (Medical Insurance) coverage from the Medicare Advantage Plan and not Original Medicare.
Choose your plan carefully. Outside of when you first become eligible to enroll and other personal circumstances that may qualify you for a Special Election Period, you are only able to change plans once a year during the Annual Election Period. The Annual Election Period lasts from October 15 through December 7 of each year.
There is also a Medicare Advantage Dis-enrollment Period, which runs from January 1 through February 14. During this time, individuals enrolled in a Medicare Advantage plan can dis-enroll from their plan and return to Original Medicare coverage.