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What you should know about Medicare advantage plans

Welcome back. This is Matt at goldhealthadvisors.com. Today’s video will go over Medicare advantage plans. What do you need to know about Medicare advantage plans? The first point you need to know is, like supplements and not to be out done, they have two names, Medicare advantage and/or Part C plans. Why Part C? Well C stands for “complete.” They are bundled plans. Plans that include the medical coverage and drug coverage in one plan. These network plans, instead of having an 80/20 relationship like you do with the Medicare and a supplement plan, you are in a way outsourcing Medicare to a private insurer, with their specific networked plan called an Advantage plan. These plans will be your 100% healthcare provider. By doing such helps lower the cost of the plan. In the supplement world, all plans have a monthly premium. Most Advantage plans in South Florida do not have a monthly premium. The other component to this that you need to know is that most advantage plans in our market have the prescription drug plan included also at no monthly premium. There are still copays both on the advantage plan itself, as well as on the drug plan. As far as the monthly premium, it is a zero-monthly premium. If you have any other questions, feel free to reach out to me at goldhealthadvisors.com.