A Medicare Advantage Plan is an alternative to Original Medicare. These plans are offered by private insurance companies that work with Medicare to provide your Part A (hospital) and Part B (medical) benefits—all in one plan.
There are different types of Medicare Advantage Plans, including:
- HMOs (Health Maintenance Organizations)
- PPOs (Preferred Provider Organizations)
- Private Fee-for-Service Plans
- Special Needs Plans
- Medicare Medical Savings Account Plans
When you join a Medicare Advantage Plan, you’ll get your Medicare-covered services through the plan instead of directly from Original Medicare. Many of these plans also include prescription drug coverage (Part D), so your medications can be covered too.
Every Medicare Advantage Plan covers at least what Original Medicare does, with one exception: hospice care is still provided through Original Medicare. All plans cover emergency and urgent care as well.
The great news is that many Medicare Advantage Plans offer extra benefits you don’t get with Original Medicare, such as:
- Prescription drug coverage (Part D)
- Vision, hearing, and dental care
- Wellness and fitness programs
Along with your Part B premium, some plans may charge an additional monthly premium.