How does Medicare Advantage work to your advantage?

Are Medicare decisions dragging you down? Let us help by bringing you up to speed on one of your options: Medicare Advantage. In this article, we’ll explain how Medicare Advantage works, what it can cover, and more.

How Does Medicare Advantage Work?

Medicare Advantage plans are offered by private insurance companies who will administer your Medicare Part A and Part B benefits instead of the government. Medicare Advantage plans  may offer additional benefits, like prescription drug coverage, dental, vision, and hearing benefits. Medicare Advantage “bundles” coverage, so your Medicare Part A, Medicare Part B, and additional benefits will all come from the same plan.

What Do Medicare Advantage Plans Cover?

Like Medicare Part A, Medicare Advantage plans cover hospital insurance. The benefits include:

• Inpatient hospital stays
• Inpatient nursing home care
• Coordinating hospice care*
• Some home health care

Like Medicare Part B, Medicare Advantage plans cover medical insurance. These benefits include:

• Certain doctors’ services
• Outpatient care
• Medicare supplies
• Preventive services

Medicare Advantage can also cover additional benefits. These benefits depend on the plan and may include:

• Vision services
• Dental services
• Hearing services
• Prescription drug coverage
• Over-the-counter medication coverage
• Wellness and fitness programs
• Transportation for medical visits

How Much Does Medicare Advantage Cost?

The average premium for a Medicare Advantage plans will be $18.50 in 2024. This premium does not include your Part B premium, which is paid separately. Additionally, Medicare Advantage plans include out-of-pocket costs like deductibles, copays, and coinsurance.

How Do I Get Medicare Advantage?

You can get a Medicare Advantage plan during your Initial Enrollment Period (IEP) or the Medicare Annual Enrollment Period (AEP). Your IEP includes the month you turn 65 and the 3 months before and after your birthday month. AEP is from October 15 to December 7. During these times, you can apply for a Medicare Advantage plan through a private insurance company or an insurance agency.

Because of how Medicare Advantage works, insurance agencies like HealthMarkets can work with you to find a Medicare Advantage plan. We have access to a wide variety of plans from national and regional insurance providers. HealthMarkets licensed insurance agents can personally help you choose the plan that fits your needs — by phone or in person, depending on your preference. It’s our goal to make enrolling in or changing Medicare plans a simple, no-hassle process. To get a Medicare Advantage Plan that works for you, just call HealthMarkets at (800) 827-9990 to speak with a licensed insurance agent, or find an agent near you to get started today.