Medicare Advantage Plans are health plan options that are approved by Medicare and run by private insurance companies. They are part of the Medicare Program, and sometimes called “Part C”.
These plans often have networks, which means you may have to see doctors who belong to the plan or go to certain hospitals to get covered services. Most plans include urgent care and worldwide emergency coverage, an annual out-of-pocket maximum to help budget for your health care costs, and often include prescription drug coverage. Most plans have no additional monthly premium beyond what you already pay for Part B.
Medicare Advantage plans work similarly to employer-sponsored health insurance plans that you may have had or currently have, which may help you continue a similar level of coverage to what you have now.
Medicare Advantage Plans provide the same benefits as Original Medicare, and often more. Additional benefits may include routine hearing and vision care. MA plans cover all the benefits of Medicare Part A, including hospital stays, skilled nursing care and home health care, but not hospice care (which is still covered by your Part A benefit). These plans also cover all the benefits of Medicare Part B, including doctor visits, outpatient care, screenings, shots and lab tests. Many plans also include Medicare Part D prescription drug coverage.