Medicare Advantage Plans

Medicare Advantage Plans

A Medicare Advantage Plan (Medicare Part C) is a type of Medicare health plan offered by a private company that contracts with Medicare to provide you with all your Part A and Part B benefits. Some Medicare Advantage Plans also offer prescription drug coverage. If you enroll in a Medicare Advantage Plan, your network and that accepts the plans network.

You need to be a part of Medicare Part A and B to be eligible for a Medicare Advantage Plan. You will be required to pay your monthly Medicare Part B premium to Medicare. Moreover, you will likely have to pay a monthly premium to your Medicare Advantage Plan for the extra benefits they offer. The amount you pay will vary depending on the plan you choose. As of 2021, the standard Part B premium amount is $148.50 (or higher depending on your income).

When can you join?

You can join a Medicare Advantage Plan during your Initial Enrollment Period or during specific times throughout the year.

Your Initial Enrollment Period is the seven-month period that starts the month you turn 65 or, if you’re automatically enrolled, you’re enroll during your Initial Enrollment Period, you may have to wait for the Medicare Annual Enrollment Period (October 15 to December 7) to join a plan.