So, what is Medicare Advantage and how does it work?
Medicare Advantage or Medicare Part C is a Federal Government funded and subsidized healthcare plan through CMS (Centers For Medicare and Medicaid Services) to private insurance companies for people on both Medicare Part A and Part B regardless of age, disability or health.
• Medicare Advantage is considered an “all in one” alternative or “bundled” plan to Original Medicare. “All in one” means instead of having Original Medicare with Part A and Part B, plus a Medicare Supplement or group coverage, plus a Part D drug plan—you have everything combined into one plan.
• It’s still Medicare, but now your Medicare services are provided through a private insurance company that receives funding from CMS to cover the cost of your healthcare…whether you need it or not.
• You still pay a Medicare Part B premium…unless you are on Medicaid or you have a Medicare Advantage Plan that offers what is called a “Part B Give Back.” A Part B Giveback eliminates all or part of your Part B premium.
• When you have a Medicare Advantage Plan all of your healthcare benefits are run through the insurance company that administers the particular plan that you are on. Your providers (doctors and hospitals) will bill directly to the Medicare Advantage plan instead of to Original Medicare. The insurance company typically pays the majority of your healthcare costs and you pay copays or part of the cost of your medical bills.
• Most Medicare Advantage plans offer additional benefits that you can’t get through Original Medicare or typically a Medicare Supplement. Those extra benefits may be extra dental, vision, hearing, health club memberships, transportation and more.
I/We may not or do not offer every plan available in your area. Currently I/we represent a dozen plus organizations which offer dozens of products in your area. Please contact Medicare.gov, 1–800– MEDICARE, or your local State Health Insurance Program (SHIP) to get information on all of your options.
Plans are insured or covered by a Medicare Advantage (HMO, PPO and PFFS) organization with a Medicare contract and/or a Medicare-approved Part D sponsor. Enrollment in the plans depends on the plan's contract renewal with Medicare.
