Medicare Part C is an alternative to Parts A and B. Sometimes, it can even include certain aspects of Medicare Part D (prescription drug coverage). In general, most people enrolled in Medicare need to have both Medicare Part A and Part B. Together, these two parts are administered by the federal government and are known as “Original Medicare.”
Usually, those who do not sign up for Original Medicare before their initial eligibility period ends may have to pay a penalty once they do sign up.
If you sign up for Medicare Part C, however, you do not need to worry about enrolling in Original Medicare. That’s because Part C (also known as “Medicare Advantage Plans”) has many of the same types of coverage as other parts of Medicare.
What exactly is the point of Medicare Part C?
Well, if you have a combination of Medicare Parts A and B, your coverage is close to comprehensive, but it is not very customizable. On the other hand, Medicare Part C is operated by private insurance companies that agree to meet certain requirements.
With Medicare Part C (Medicare Advantage), you can sign up for a plan that may come with more flexibility than Original Medicare.
Unlike the other Medicare segments, Part C may include the following benefits:
- Vision coverage.
- Dental coverage.
- Hearing coverage.
Additionally, many Medicare Advantage Plans may even include prescription drug coverage, which is usually covered under Medicare Part D. This may help simplify your health insurance options, since you will just be dealing with one plan rather than multiple plans.
After you sign up for Medicare Part C, the federal government will pay a fixed fee to your insurance provider each month and you’ll just cover any copayments and fees for services.
You will also be responsible for paying the monthly premium you would normally be paying if you enrolled in Medicare Part B.
Depending on your medical needs and budget, Part C may be a great option worth looking into.