Video: Why Should I Consider a Medicare Advantage Plan?

Transcript:

As of 2024, over 32 million people were enrolled in Medicare Advantage plans from private insurance carriers. Medicare Advantage plans substitute for Original Medicare, the federal health coverage program for U.S. adults who are 65 or over or who have certain disabilities.

In this video, we’ll look at a few of the reasons why so many people switch to Medicare Advantage plans.

Original Medicare consists of Medicare Part A, which is hospital insurance, and Part B, which is medical insurance. People on Original Medicare may also enroll in a Medicare Supplement plan offered by a private insurance carrier to help with some of the out-of-pocket costs not covered by Original Medicare.

Medicare Advantage plans, also called Medicare Part C, give you options that may help you save on your healthcare.

For instance, on either Original Medicare or a Medicare Advantage plan, you’ll be charged a copay or coinsurance for many covered medical services after you meet your deductible. However, Medicare Advantage plans may require less cost-sharing, and, unlike Original Medicare, they set out-of-pocket maximums that limit how much you spend on covered health costs each year.

Medicare Advantage plans can offer a variety of additional benefits that Original Medicare doesn’t. To get coverage for most prescription drugs, people on Original Medicare must enroll in a separate Medicare Part D plan from a private insurance carrier. But many Medicare Advantage plans include Part D prescription drug coverage, and they may feature additional benefits.

Your Medicare Advantage plan options depend on where you live. To get the most out of your benefits, you may need to visit doctors and pharmacies that are in your plan’s provider network.

Review your choices carefully. GoHealth provides an online marketplace and pressure-free guidance from licensed insurance agents to help.