Medicare Advantage, officially called Medicare Part C, is another way people can get their Medicare benefits. You can think of it as the managed care version of Medicare.
Medicare Advantage coverage is provided by private insurance companies with a Medicare contract.
At a minimum, these plans must provide Part A hospital and Part B medical benefits, although the ways in which they are provided can be different than Original Medicare.
Most plans also include extra coverage like Part D prescriptions, dental care, gym memberships and/or more.
A majority of Medicare Advantage plans are offered for a $0 monthly plan premium in addition to what you already pay for your Part B.
The low premium is possible because of the way the government funds the Medicare Advantage program and because the plans use managed care techniques like doctor networks and referrals to help contain costs.
Medicare Advantage insurance is very popular; one in three beneficiaries has it. In some parts of Florida, Oregon, Minnesota and California, more than half of all Medicare recipients have Medicare Advantage.
This popularity is driven by the plans' low monthly premiums and the extra benefits they include. Member satisfaction is also high.
Medicare Advantage is guaranteed issue insurance, meaning the plan is not allowed to deny you membership if you have a pre-existing condition,. Annual enrollment periods may still apply.
Those easy enrollment rules make these plans even more appealing to anyone with a chronic disease or a history of cancer.
Remember, there is no single best Medicare plan. The right plan for you will depend on your own needs, preferences and budget.
While Medicare Advantage is great coverage for some people, others will find that Original Medicare or a Medicare supplement plan is a better fit for them.