The Medicare Advantage Plan is continuously growing, and it now has a large role in the Medicare program. Last year, over 31% of US Medicare beneficiaries enrolled in Medicare Advantage Plans. It grew in popularity, and now, Medical Advantage is considered by some companies to be the catalyst in the Medicare Program evolution over the past few years. But what is Medicare Advantage?
What Is Medicare Advantage?
Medicare Advantage or “Medicare Part C” is a Medicare Plan provided by private companies. It covers both Hospital Insurance (Part A) and Medical Insurance (Part B). and usually includes other benefits. Some of the included services are prescription drug coverage, vision and dental coverage, and sometimes gym coverage.
There are different types of Medicare Advantage Plans, and here are some common types of it:
Why Is It So Popular?
More than half of the Medicare Advantage enrollees pay no premium, and it is one of the main reasons it is so popular. It also has more benefits that aren’t covered by traditional Medicare, such as dental care, fitness benefits, and eye exams that are usually needed by beneficiaries. Besides, these plans can be customized to treat some specific conditions.
Efficiency, flexibility, and cost are what people usually looked for, and with that, Medicare Advantage plays its role. Still, plans are changing and evolving as time passes; that’s why to make sure to understand what the program is before joining.
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