What is a Medicare Advantage Plan?

A Medicare Advantage Plan is one of your two health insurance options to get your primary coverage when signing up for Medicare, the other being Original Medicare.

Also called Medicare Part C, Medicare Advantage Plans are private health insurance plans that combine Medicare Part A (Hospital Insurance) with Medicare Part B (Medical Insurance). In addition, many include additional benefits like:

• $0 Monthly Premiums
• Prescription Drug Coverage
• Vision Insurance
• Dental Insurance
• Hearing Insurance
• Medical Transportation
• Gym Memberships
• Meal Delivery

Please note that even though Medicare Advantage replaces your Original Medicare, you may still be required to pay your monthly Medicare Part B premium.[i]

Medicare Advantage comes in many forms. These different plan types vary in how you obtain special benefits if you meet specific criteria, pay for services and receive discounts for going to “preferred” doctors. Here are the different types of Medicare Advantage Plans:[ii]

• Health Maintenance Organization (HMO) plan
• HMO Point-of-Service (HMOPOS) plan
• Medical Savings Account (MSA) plan
• Private Fee-for-Service (PFFS) plan
• Special Needs Plan (SNP)

Your other insurance option is to enroll in Original Medicare consisting of Medicare Part A and Part B offered by the federal government.[iii] Original Medicare only covers up to 80 percent of your health care costs and doesn’t include the additional benefits commonly included with a Medicare Advantage Plan.

Medicare Advantage Plans Start At $0/Month

In 2020, nearly two-thirds (60 percent) of Medicare Advantage beneficiaries paid no premium for their plan.[iv]You’ll still be required to pay your Medicare Part B premium. That said, it may be an enticing option for those who don’t want to juggle paying multiple premiums each month.

If you’re interested in seeing Medicare Advantage Plans with $0 monthly premiums, Ensurem offers an online quoting tool(below) that’ll allow you to compare plans in your area.

What is a Medicare Supplement Insurance Plan?

If you decide to enroll in Original Medicare, you may find that you’ll still have to pay a share of the out-of-pocket costs for your health care. That’s where healthyamericans.us comes in.

Also called Medigap, Medicare Supplement Insurance Plans are government-approved supplemental insurance plans offered by private insurance carriers.[v]

Medicare Supplement Plans are used in conjunction with your Original Medicare to help pay for some of the remaining health care costs, including:

• Deductibles: The set amount you pay each year for your health care before your plan starts to share the costs of covered services.
• Copayments: The fixed amount you pay for a covered health care service. When you visit a provider, such as a doctor or a hospital, you might have to make a copayment before you receive care.
• Coinsurance: The percentage of costs you pay after you’ve met your deductible. For example, your plan may cover 80% of a covered health care service, while you’re responsible for 20%.

There are 10 Medicare Supplement Insurance Plans available in the U.S., each with a different letter designation. These 10 Medicare Supplement plans are standardized to provide different levels of coverage designed to fit people’s needs and budgets.

It’s important to note that not all 10 plans are available. Medicare Supplement Plan C and Plan F are only available to those who were Medicare-eligible before Jan. 1, 2020. Also, Medicare Supplement plans in Ma standardize their Medicare Supplement plans differently.[vi]I

Please note that you need to be enrolled in Medicare Part A and Part B to get a Medicare Supplement Insurance Plan.