Once you turn 65 (or younger with certain disabilities), you become eligible for Medicare. Many people enroll in Parts A and B, the first of which covers hospitalization costs; the second deals with outpatient care. Many then choose to add a Medicare supplement policy to help fill any gaps. Others opt for Medicare Advantage, also known as Part C, which includes similar coverage as Parts A and B with some additional benefits and restrictions. To learn more about it, refer to the guide below.

What to Know About Medicare Advantage Plans

How is it different than Original Medicare?

Medicare is a government-funded health insurance program for older Americans. Medicare Advantage, on the other hand, is offered by private insurers. The main advantage of these plans is that they afford the policyholder additional levels of health coverage.

For instance, routine dental and vision care—two components not included in standard Medicare—can often be a part of an Advantage Plan. You might also add prescription coverage if your regular prescriptions aren't included in a traditional stand-alone Medicare drug plan. However, you may be limited in your choice of providers. 

Alternatively, you could invest in Medigap insurance, which acts as a supplement, rather than an alternative, to Original Medicare to cover dental, vision, and prescription costs.

How much do these plans cost?

Advantage Plans vary significantly in both cost and the benefits that come with it, depending on your provider. Some plans have no premium at all, so there is a possibility you could get added coverage for no additional out-of-pocket cost.

Can you switch back?

Seniors should always review their medical insurance options at the end of every given year to see if they have the most cost-effective coverage for their needs. Meeting with an adviser is suggested if you have any questions for your specific situation.

Explore your Medicare Advantage Plan options by contacting Brent Layton. He has more than 25 years' experience serving the Box Elder County, UT, area. In addition to Medicare Advantage and Medicare supplement plans, he offers final expense life insurance and guaranteed funeral plans. Call (435) 257-3829, email bclayton@citlink.net, or visit his website to schedule a consultation.