Key Takeaways
- Advantage plans act as a "one-stop-shop" for hospital, medical, and drug coverage.
- Most plans offer extra benefits like dental, vision, hearing, and fitness memberships.
- You are usually restricted to an HMO or PPO network of doctors and hospitals.
- Out-of-pocket maximums protect you from catastrophic medical bills.
The Pros of Medicare Advantage
The biggest draw of Part C is convenience and extra benefits. Original Medicare doesn't cover routine dental, vision, or hearing exams, but many Advantage plans do. Additionally, Advantage plans have a yearly out-of-pocket maximum, whereas Original Medicare has no cap on your potential costs unless you buy a separate Medigap policy.
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The Cons and Restrictions
The main drawback is network limitations. With Original Medicare, you can see any doctor in the US who accepts Medicare. With Advantage plans, you must use their network providers or pay significantly more. Furthermore, you often need prior authorization from the insurance company for specialized treatments.
Frequently Asked Questions
Can I have both Medicare Advantage and a Medigap policy?
Do I still pay the Part B premium if I have an Advantage plan?
ARTICLE SOURCES
Retire Companion requires writers to use primary sources to support their work. These include white papers, government data, original reporting, and interviews with industry experts. We also reference original research from other reputable publishers where appropriate. You can learn more about the standards we follow in producing accurate, unbiased content in our editorial policy.
- Medicare.gov. Medicare Advantage Plans
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