Medicare Advantage insurance plans, also known as Medicare Part C, are plans provided by insurance companies contracted by Medicare to cover all Original Medicare in a different way but with additional benefits. Medicare Advantage plans have much lower premiums generally. These Medicare Advantage plans are sometimes called All in One plans because most have Part D included in the plan.
The additional benefits are provided at no additional cost. This is possible because Medicare pays the insurance company a set amount for providing your healthcare coverage. Some of these additional items can be:
- Gym Membership
- Over the Counter benefit
- Hearing aids
- Transportation to providers
- And other items
Medicare Advantage plans are normally a Network type of plan. They work more like Under 65 Major medical plans. They have PFFS, HMO, and PPO type of Networks.
Medicare Advantage plans are required by Medicare to provide the same benefits of Parts A and B.
- Inpatient hospital care
- Skilled nursing facility
- Lab Tests
- Home Health Care
- Outpatient Care
- Medical Equipment
- Some Preventative Services
Plus, most have additional Benefits that Original Medicare does not cover
- Routine Eye Care
- Skilled Nursing Facility without the 3 Midnight rule
- Routine Foot Care
- Annual Physical (original Medicare only covers an annual Wellness visit)