Key Features of Medicare Advantage

1. All-In-One Coverage 

• Combines Part A (hospital insurance) and Part B (medical insurance).
• Often includes additional benefits like prescription drug coverage (Part D), dental, vision, and hearing.
   

2. Cost Structure

• Typically have lower out-of-pocket costs compared to Original Medicare.
• May require you to use a network of doctors and hospitals.
• Usually a significantly lower monthly premium than Medicare with a supplement and prescription plan

3. Additional Benefits

• Many plans offer extra services like fitness programs, over-the-counter drug allowances, and wellness programs.

How Medicare Advantage Works

You must first be enrolled in Original Medicare (Part A and Part B) before you can enroll in a Medicare Advantage plan. Once enrolled, Medicare still funds your coverage, but your benefits are managed through the Medicare Advantage insurance company instead of directly through Original Medicare.

Plan Types

​Health Maintenance Organization (HMO):

• Requires you to use doctors and hospitals within the plan’s network.

​Preferred Provider Organization (PPO): 

• Offers more flexibility in choosing healthcare providers.

Special Needs Plans (SNPs):

• ​Tailored for individuals with specific diseases or characteristics.

Costs:

• ​You continue to pay your Part B premium, some plans may rebate a portion of your Part B premium or charge an additional premium.
• There may be plans available at a $0 monthly premium.