Top 5 Reasons to Enroll in Part C: Medicare Advantage
When people get closer to retiring, they have to choose their Medicare plan. One option that’s getting popular is Medicare Part C, also known as Medicare Advantage. It’s offered by private insurance companies approved by Medicare, and it’s a different way to get healthcare coverage. In this article, we’re going to talk about the top five reasons why picking Medicare Part C could be a good idea for you.
1. $0 monthly premium for most Part C plans
Medicare Advantage plans can sometimes cost you zero dollars every month. This is cool because regular Medicare makes you pay separately for Part A and Part B. But with Medicare Advantage, these come together and you might not have to pay anything every month. This is good for people who don’t want to spend a lot of money, and you still get hospital insurance (Part A) and medical insurance (Part B) too. Having a $0 monthly premium means that you can enjoy essential healthcare services without the worry of ongoing costs, making it a more affordable option for individuals on fixed incomes. It is important to note, you must continue to pay your Part B Medicare premium to enroll in Part C; however, on many plans there is no additional monthly payment.
2. No Deductible for Doctor Visits or Hospital Stays
Sometimes, you have to pay a certain amount of money before your insurance starts paying. This is called a deductible. But with Medicare Advantage, you might not have to pay a deductible when you go to the doctor or the hospital. Most plans charge no deductible for any service. Rather, you pay copays and coinsurance at fixed costs on day 1. This is great if you need to see the doctor often. You can use your medical benefits without worrying about the deductible. For example, on day 1, an MRI might be a fixed cost of a $200 copay. If you had a deductible , you would pay every penny of the MRI until you had met deductible . Over 90% of Part C plans, charge no annual deductible.
3. No Deductible for Prescription Drugs on Part C
Medicines are important for many people’s health. Medicare Advantage plans might not make you pay any money before your drug coverage helps. This is called a prescription drug deductible, and it can save you a lot of money. If you need to take different medicines, this can save you a bunch. Over 90% of the Part C plans do not charge a yearly RX deductible in 2023. Rather, you have fixed copays for each “tier” of drug . Generally, tier 1 and tier 2 are generics, and most plans will cover these at a $0 copay. Tier 3 and 4 are usually name brands and tier 5 drugs are specialty drugs .
4. Dental and Vision included
Regular Medicare doesn’t cover going to the dentist or the eye doctor. But with Medicare Advantage, they often include these things. This is good news for your teeth and your eyes. You won’t need to buy extra insurance just for these. You get a more complete package for taking care of yourself. These types of benefits have grown drastically the last 5 years. Most Part C plans now offer basic and comprehensive dental that will pay for things like cleanings, fillings, x-rays and exams . You may have to go to an “in network ” dentist, but you can get most of your dental work for a $0 copay.
In regards to vision, almost all Part C plans include some sort of allowance for glasses or contacts each year. In addition, these plans usually pay for an eye exam every year, without the Medicare beneficiary having to come out of pocket. Plans will set a yearly allowance for vision hardware, so its important to shop your options and get the benefits that suit your needs.
5. Strong Medical Networks
Medicare Advantage plans have strong networks. These are groups of doctors, hospitals, and clinics that work together. They have a contract with the plan, so you can go to them and receive care at a negotiated price. This is good because you know they’re good at what they do. Some plans even cover care from places that aren’t in the network, but it’s better to use the network for most things. When picking a Part C plan, it is very important to make sure the doctors that you want to visit, are “in network” with the plan you pick. Some areas in the US with smaller populations and more rural areas are more limited in regards to networks. However, most cities and metropolitan areas have every strong robust networks that have contracts with multiple hospital systems.
So, Medicare Part C – Medicare Advantage plans can be a good choice for some people. They can save you money and give you more benefits. But remember, the right plan depends on what you need and like. You should learn about the Medicare Advantage plans in your area, see what they offer, and pick the one that fits your health needs and budget. This way, you can take a step toward getting the healthcare you want.