Medicare Advantage Plans are another way to get your Medicare Part A and Part B coverage. Medicare Advantage Plans, sometimes called “Part C” or “MA Plans,” are offered by Medicare-approved private companies that must follow rules set by Medicare. If you join one of these plans, you generally get all your Medicare-covered health care through the Medicare Advantage Plan. Most Medicare Advantage Plans also include drug coverage (Part D), so you wouldn’t need a separate drug plan. Medicare Advantage Plans include:
- Medicare Health Maintenance Organization (HMOs)
- Preferred Provider Organizations (PPO)
- Private Fee-for-Service Plans
- Medicare Special Needs Plans
When you join a Medicare Advantage Plan, you use the health insurance card that you get from the plan for your health care. In most cases, you’ll need to use health care providers who participate in the plan’s network. Most plans generally include extra benefits beyond what Medicare covers, such as Dental, Vision, Hearing, and over the counter spending. These plans set a limit on what you’ll have to pay out-of-pocket each year for covered services, along with lower co-payments.
To join a Medicare Advantage Plan, you must have Medicare Part A and Part B and live in the plan area. You will have to continue to pay your monthly Medicare Part B premium to Medicare. In addition, you may have to pay a monthly premium to your Medicare Advantage Plan for the extra benefits that they offer, but man plans have $0 premiums. In 2022, the standard Part B premium amount is $170.10 (or higher depending on your income). However, some people who are low income pay less than this amount.
When can I enroll?
Keep in mind that Medicare limits when you can join, switch, or drop a Medicare Advantage Plan. You can join a plan when you first become eligible for Medicare. This is anytime beginning three months before the month you turn 65 and ends three months after the month you turned 65.
- For example, if you turn 65 on May 5, your eligibility period starts on February 1 and ends on August 31.
- If you are disabled and have Social Security Disability Insurance, you can join an advantage plan three months before to three months after month 25 of your disability.
- You can switch or drop your Medicare Advantage during an enrollment period between October 15 and December 7 of each year.