Seniors Citizens, Know Your Options
Medicare Advantage is Part C of Medicare and is an alternative approach to covering Part A and Medicare Part B. With a Medicare Advantage plan, Medicare pays a private insurance company to administer all claims for that Medicare beneficiary. The insured does not use the red, white, and blue Medicare card for claims but the insurance card of the private company.
Because there is no supplemental insurance policy specifically designed for Medicare Advantage plans, the insured will still have gaps (deductibles, co-payments, and/or coinsurance amounts) to pay for office visits and hospital stays.
Two advantages of having a Medicare Advantage plan:
The disadvantages, however, of a Medicare Advantage plan can be numerous, including:
Medicare Part A and Medicare Part B + a Plan F Medicare Supplement usually cover the Medicare-approved doctor and hospital charges in full, leaving the insured responsible only for the monthly premium.