Medicare is a federal health insurance program primarily for people aged 65 and older. It also provides coverage for individuals under 65 who have certain disabilities, permanent kidney failure (end-stage renal disease), or amyotrophic lateral sclerosis (ALS, also known as Lou Gehrig’s disease).
Medicare helps cover a wide range of healthcare services, and is divided into four parts:
Part A – Hospital Insurance: Covers inpatient hospital stays, skilled nursing facility care, hospice care, and some home health care services.
Part B – Medical Insurance: Covers doctor visits, outpatient care, preventive services, durable medical equipment, and medically necessary treatments.
Part C – Medicare Advantage: An alternative to Original Medicare, offered by private insurance companies approved by Medicare. These plans often include additional benefits such as vision, dental, hearing, and prescription drug coverage.
Part D – Prescription Drug Coverage: Provides coverage for prescription medications, available through private insurers either as a standalone plan or as part of a Medicare Advantage plan.
Medicare is designed to offer peace of mind and essential healthcare coverage as you age or manage serious health conditions. Understanding the parts of Medicare helps you choose the right plan based on your healthcare needs and financial situation.
Medicare Advantage, also known as Part C, is an alternative to Original Medicare (Parts A and B). These plans are offered by private insurance companies that are approved and regulated by Medicare.
A Medicare Advantage plan is required to provide at least the same level of coverage as Original Medicare. However, many of these plans go further by offering additional benefits that Original Medicare doesn’t cover.
These extra services often include:
One of the key advantages of Medicare Advantage plans is that they may come with lower out-of-pocket costs compared to Original Medicare. However, enrollees are usually required to use a network of doctors and hospitals (such as HMO or PPO networks), and referrals may be needed to see specialists in certain plans.
While most people on Medicare Advantage still pay their standard Part B premium, some plans may also charge an additional monthly premium, depending on the level of coverage and benefits included.
Medicare Advantage plans offer a more managed and all-in-one approach to healthcare — making them a popular option for those who want bundled coverage and extra services.