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Medicare Advantage plans, also known as Medicare Part C, are an alternative to Original Medicare. They are offered by private insurance companies approved by Medicare, and can provide additional benefits that Original Medicare does not cover. In this article, we’ll explain what a Medicare Advantage Plan is and how it differs from Original Medicare.
What is a Medicare Advantage Plan?
A Medicare Advantage plan is a private health insurance plan that is an alternative to Original Medicare. These plans are available to people who are eligible for Medicare and typically offer additional benefits such as vision, dental, and hearing coverage. While the specifics of coverage can vary depending on the plan, they are required to cover everything that Original Medicare covers.
How Does a Medicare Advantage Plan Differ from Original Medicare?
The biggest difference between Original Medicare and a Medicare Advantage plan is the way in which they are delivered. Original Medicare is a government-run health insurance program, while Medicare Advantage plans are offered by private insurance companies.
Here are some other key differences:
- Coverage: Medicare Advantage plans can offer additional benefits that Original Medicare does not cover, such as dental, vision, and hearing. Original Medicare does not cover these benefits.
- Costs: While Original Medicare has standardized costs for services, Medicare Advantage plans can vary in costs and structure. Some plans may have lower premiums or deductibles, but others may have higher out-of-pocket costs for certain services.
- Doctor Networks: Original Medicare allows you to see any doctor who accepts Medicare, while Medicare Advantage plans may have a network of approved providers. If you use a provider outside of this network, you may have higher out-of-pocket costs or not be covered at all.
- Prescription Drug Coverage: Original Medicare provides limited prescription drug coverage through Part D, while many Medicare Advantage plans include prescription drug coverage as an integrated part of the plan.
Medicare Advantage plans can offer additional benefits that Original Medicare does not cover, but they are delivered through a private insurance company rather than the government. While there are differences, both Original Medicare and Medicare Advantage plans are designed to provide healthcare coverage to those who are eligible for Medicare. To decide which plan is right for you, it’s important to compare their specifics and ensure the plan you choose meets your needs.
