Finance
9 surprising benefits of a Medicare Advantage plan
Medicare Advantage (Medicare Part C) is a comprehensive alternative to Original Medicare. Private insurers that offer Medicare Advantage plans contract with the federal government to offer health insurance benefits to those who qualify for Medicare. This plan has many benefits that attract more users each year. While it might have attractive features, Medicare Advantage might not be ideal for everyone. The best way to decide is by learning about its associated benefits. Low monthly premiums Individuals with Medicare are usually attracted to Medicare Advantage plans because they are marketed as “zero premium” products. Medicare Part C is similar to traditional Medicare, where enrollees must pay the Medicare Part B premium. On the contrary, people who sign up for Medicare Advantage do not have to pay a separate premium for additional coverage for or for Part D prescription premiums, as in the case of traditional Medicare. Medicare Advantage rebate dollars cover these costs. Also, note that the costs may differ by plan, so one must shop around to find the top options. Financial protection A Medicare Advantage plan offers financial safety because of its pre-fixed annual out-of-pocket limit. For instance, if one’s costs reach the limit, the plan covers 100 percent of Medicare-covered healthcare costs for the rest of the year.