Bert Weiss: What about Medicare Advantage (Part C)?

This month, I’d like to explain more about Medicare Advantage or Medicare Part C. In a nutshell, these are private insurance companies with a Medicare contract that cover doctors, hospitals and prescription drug needs all in a single plan. These plans utilize networks of doctors and hospitals, and provide Medicare coverage for as little as $0 per month. Bear in mind these plans have co-pays for doctor visits, hospitals and tests. Additionally, you must continue to pay your Part B premium for Medicare, then these plans take over 100 percent of your covered benefits, minus a list of co-pays that end at an out of pocket maximum.

Many folks ask: How are these plans $0/month? Remember this is still Medicare; the government pays the insurance company a sum of money every month you are on the plan. Then the company pays your bills for covered events. All companies must offer all benefits offered by traditional Medicare, and then they often elect to add benefits beyond those required. For instance, I am offered a free gym membership at the Integrity Gym in North Conway. Some plans even have dental benefits, while others cover hearing aids. If you're part of the VA system, there are plans designed for you too!