Victor Keaton
CA License # 0C94507

Medicare Part C

Medicare Advantage Plans - aka Part C

One of the options a Medicare beneficiary has as a resource to tackle Original Medicare’s Co-Insurance, Co-Pays, and Deductibles is through the use of a Medicare Advantage plan, also known as Part C. Medicare Advantage Plans are CMS-approved insurance plans offered through private health insurance companies. They combine Original Medicare, Part A, Part B, and generally Part D into one plan. Enrolling in a Medicare Advantage plan requires a person to enroll in Medicare Part A & Part B and reside in the plan’s service area. Medicare Advantage plans, at a minimum, include all benefits, services, and coverages outlined in Original Medicare. They generally have additional benefits and services Medicare does not cover, such as:
  • Preventative Care & Wellness Programs.
  • Routine Hearing Exams & Hearing Aids.
  • Routine Vision Exams & Corrective Lenses.
  • Comprehensive Dental Coverage.
  • Worldwide Emergency Assistance Outside The U.S.
If a person enrolls in a Medicare Advantage plan they must continue to pay their Original Medicare Part B premium. With that said, Medicare Advantage plan premiums cost around $0 to $60 a month, depending on the plan chosen. A very affordable option to reduce the exposure of Medicare’s 20% co-insurance. By selecting a Medicare Advantage plan, the insurance company becomes your primary insurance, and by doing so, it has very distinct advantages and disadvantages, such as: Advantages:
  • It Has A Low or No Monthly Premium.
  • Part D Is Generally Included In The Plan.
  • It Provides Predictable Out-of-Pocket Costs.
  • Usually Includes Extra Benefits Not Provided By Original Medicare.
Disadvantages:
  • As A Rule, Working Within A Network Is Mandatory.
  • Normally, Working With A Primary Care Physician Is Necessary.
  • In General, It Requires A Referral To See A Specialist.

Two Types of Medicare Advantage Plans – HMO or PPO:

HMO – Health Maintenance Organization:
  • Cover Eligible Services For Providers And Facilities Inside The Network Only, Except In An Emergency.
  • As A Rule, Have A Very Narrow Network Confined To A Specified Geographical Area.
  • In-Network Out-of-Pocket Expenses Are Limited.
  • Out-of-Network Expenses Are Mostly Out-of-Pocket.
  • Normally, Require A Primary Care Physician.
  • Typically, Require A Referral To See A Specialist.
  • Generally, Require Pre-Authorization For Procedures.
PPO – Preferred Provider Organization:
  • Cover Eligible Services For Providers And Facilities Inside The Network.
  • Cover Eligible Services For Providers And Facilities Outside The Network.
  • As A Rule, Have A Broad Network With Nation Wide Coverage.
  • In-Network Out-of-Pocket Expenses Are Limited.
  • Out-of-Network Out-of-Pocket Expenses Are Limited.
  • Normally, Do Not Require A Primary Care Physician.
  • Typically, Do Not Require A Referral To See A Specialist.
  • Generally, Do Not Require Pre-Authorization For Procedures.
Choosing a Medicare Advantage plan does not mean a person is bound to the Medicare Advantage plan selected during their Initial Enrollment Period indefinitely. There are enrollment timelines when a person can make changes to their coverage if needed or wanted.

Medicare Advantage Plan Enrollment Timelines:

Annual Election Period Oct 15th – Dec 7th: Compare And Find The Best Plan For The Next Calendar Year. Coverage Changes That Can Be Made:
  • Change To A Different Medicare Advantage Plan.
  • Switch From A Medicare Advantage Plan To Original Medicare.
  • Switch From Original Medicare To A Medicare Advantage Plan.
  • Change, Join or Drop Part D Prescription Drug Coverage.
  • Coverage Will Become Effective On Jan 1st.
Open Enrollment Period Jan 1st – Mar 31st: Set Aside For People Enrolled In A Medicare Advantage Plan. Coverage Changes That Can Be Made:
  • Change To A Different Medicare Advantage Plan.
  • Switch From A Medicare Advantage Plan To Original Medicare.
  • Join A Separate Part D Prescription Drug Plan.
  • Changes Can Only Be Made Once During This Time.
  • Coverage Will Become Effective The 1st Of The Following Month.
Lock-In Period Apr 1st – Dec 31st: No Plan Changes Allowed Unless A Qualifying Event Creates A Special Election Period. Such As:
  • Moving Outside A Plan’s Service Area.
  • Losing Employer Group Coverage.
  • Qualify For The Medicare Savings Plan (Medicaid For Over 65).
  • Qualify For Extra Help With Prescription Drug Costs (LIS).
  • Loss Of Special Needs – Extra Help or Medicare Savings Plan.