MEDICARE ADVANTAGE

Part C of Medicare refers to Medicare Advantage plans. Private insurance companies offer these plans, covering the same benefits as Original Medicare (Parts A and B).

Premiums for Advantage plans are low and sometimes even zero dollars. However, you’ll want to make sure your preferred providers are in-network and that your prescriptions and dosages are on the formulary. Medicare Advantage usually is in the form of a PPO (Preferred Provider Organization) or HMO (Health Maintenance Organization) plan, not dissimilar from group insurance plans you may have had through your employer.

Additionally, a Medicare Advantage plan will still require you to sign up for Parts A and B first and pay your Part B premium each month. Maximum out-of-pocket costs ensure you won’t spend more than a certain amount within a year before your Medicare Advantage plan fully covers all in-network care.