What You Need to Know
The Basics: Medicare Advantage Plans 2022
Medicare Advantage Plans, also known as “Part C” or “MA Plans,” are approved plans from a private company that offers an alternative to Original Medicare for your health and drug coverage. These “bundled” plans include Part A, Part B, and typically Part D. Plus, these plans often offer additional benefits that Original Medicare does not cover, such as vision, hearing, and dental services.
Medicare Advantage Plans have a set yearly limit on what you’ll have to pay out-of-pocket for covered services.
Your Medicare Advantage Plan Cost in 2022 depends on several factors. Such as if the plan charges a monthly premium. Many Medicare Advantage Plans offers a $0 premium, and if you enroll in a plan that charges a premium, you will be required to pay an additional Part B premium. Some plans will pay a portion or all of your Part B premium; however, they are not available in all areas.
Medicare Advantage Plan annual enrollment 2022 is October 15 - December 7. You can join, switch, or drop a plan during this time. If you enroll during this period, your coverage will begin on January 1st, 2023.
You’re already in the right place! Enter your zip code above, and we will find a plan available in your area. Compare Medicare Advantage plan benefits, prescription drug coverage, and costs all in one place.
Original Medicare vs. Medicare Advantage.
If you are confused about the difference between Original Medicare and Medicare Advantage, know that you’re not alone. Briefly, we will explain the core differences so you can know if a Medicare Advantage Plan is right for you.Medicare is federal health insurance offered to those 65 or older and select individuals that qualify with specific disabilities or End-Stage Renal Disease (ESRD). It is a fee-for-service health insurance plan consisting of Part A (Hospital Insurance) and Part B (Medical Insurance). You will typically not pay a monthly premium for Part A coverage If you or your spouse paid Medicare taxes while working (for a certain amount of time). Part B does have a monthly premium, but most will pay the standard premium amount, which covers doctor/health care services, outpatient care, home health care, durable medical equipment, and many preventive services.
However, Original Medicare doesn’t provide prescription drug coverage and additional health benefits (dental, vision, hearing, fitness). Unlike Original Medicare, which the federal government provides, Medicare Advantage Plans are offered by private companies approved by Medicare. Medicare Advantage Plans will vary based on location and provider, so it is important to compare your options before committing.
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Plans are insured or covered by a Medicare Advantage organization with a Medicare contract and/or a Medicare-approved Part D sponsor. Enrollment in the plan depends on the plan’s contract renewal with Medicare.