Medicare Advantage Plans are an “all-in-one” alternative to Original Medicare. Beneficiaries still have Medicare when they join a Medicare Advantage Plan, but they receive their benefits from their Medicare Advantage Plan and not through Original Medicare. In essence, Medicare Advantage Plans contract with the federal government to provide and administer Medicare benefits to enrollees.
What is Medicare Advantage?
Medicare Advantage, or Medicare Part C, is a government-funded alternative to Original Medicare, which includes Medicare Part A (Hospital Insurance) and Part B (Medical Insurance). Medicare Advantage plans are offered by private insurance companies approved by Medicare and are designed to provide all the benefits of Original Medicare while often including additional perks such as prescription drug coverage, dental care, vision care, and more. These plans offer a one-stop solution for comprehensive healthcare coverage.
How Does Medicare Advantage Work?
Medicare Advantage plans work by partnering with private insurance companies to administer your Medicare benefits. When you enroll in a Medicare Advantage plan, you still retain your Medicare eligibility, but your healthcare services are managed and covered by the plan you choose. Medicare pays a fixed amount to the insurance company for your care, and the plan is responsible for coordinating your healthcare services, often through a network of doctors and hospitals.
