Medicare Advantage (Part C)
The Centers for Medicare & Medicaid Services (CMS) defines Medicare Advantage plans (also known as Medicare Part C) as private health insurance plans approved by Medicare. These plans provide an alternative to Original Medicare (Part A and Part B) and are offered by private companies that contract with Medicare.
Medicare Advantage plans cover all the services that Original Medicare covers (hospital and medical services), but they often include additional benefits, such as:
- Prescription drug coverage (Part D)
- Vision, hearing, and dental coverage
- Health and wellness programs
- Lower out-of-pocket costs or additional coverage in some cases
- Setting limits on out-of-pocket costs (which Original Medicare does not).