Medicare Perk Program
Medicare Advantage plans are different from Medicare supplements in that they offer several advantages. My clients often think of Medicare Advantage plans in addition to Original Medicare coverage. Original Medicare has Parts A & B. Medicare Advantage plans can be called Part C, or MA plans. Original Medicare is not covered by Medicare Advantage plans. Medicare Advantage plans must provide all the services Original Medicare provides.
Original Medicare providers first bill Medicare, then they bill a supplement company. Individuals could be responsible for the remaining portion of the Medicare supplement company and Medicare. Medicare Advantage plans have the private insurance company being billed. If an individual has a Part C plan (MA) with company XYZ, and visits his primary physician or receives services at a hospital for treatment, the bill will go to company XYZ, not Medicare. In this instance, the individual might be responsible to pay a copay or deductible.
Medicare Advantage plans are sometimes called “all of the above” because they provide coverages beyond medical. Part C plans typically include prescription drug coverage. These plans are also known as MAPD (Medicare Benefit Prescription Drug) plans. Some plans provide coverage for vision, hearing, dental, wellness, and/or other benefits. Medicare Advantage plans can be very different and should be carefully reviewed on an individual basis.
Medicare Advantage plans include a premium. These premiums may vary. There are some plans that charge $0 per month. Individuals still need to pay Part B premium to be able to enroll in Medicare Advantage plans. Access to plan options varies depending on where you live. A $0 monthly premium plan, for example, may be available in one county but not in another.