Medicare Advantage Plans
Medicare Advantage is another way to receive your Medicare benefits. Instead of getting Part A and Part B directly from the government, you get them through a private insurance company approved by Medicare.
How it works
You keep paying your Part B premium. The plan then handles your hospital and medical coverage in place of Original Medicare, and most plans build prescription coverage in rather than leaving it separate.
These plans generally operate within a network. Depending on the plan type, you may need to stay with in-network providers, choose a primary doctor, or get a referral before seeing a specialist. Going outside the network can cost more, or may not be covered at all.
Many plans also include benefits Original Medicare doesn't cover, like dental, vision, and hearing.
Unlike Original Medicare, Advantage plans have a yearly cap on what you pay out of pocket. Once you hit it, the plan covers the rest for the remainder of the year.
What varies
Advantage plans are sold county by county, so what's available to you depends on where you live. Costs, networks, prescription coverage, and any additional benefits differ from plan to plan and change each year.
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