Medicare Part C, Seniors Empowered to Choose What’s Right for Them

Medicare Part C, or Medicare Advantage, gives Medicare beneficiaries more choices when it comes to private health plan choices. If you’re eligible for Medicare, there are many benefits to choosing Part C, including benefits not covered by traditional Medicare.

As an alternative to traditional Medicare, the federal government created Medicare Part C, also known as Medicare Advantage. Part C is different in the fact it doesn’t operate as a “fee-for-service” system, like Medicare Parts A and B.

As a Medicare beneficiary, you’re entitled to choose to receive benefits through either plan. You have choices here, and that’s one of the few things that make America great—the ability to choose. Medicare Advantage options includ

− Health maintenance organizations (HMOs).
− Point-of-service (POS) plans.
− Preferred provider organizations (PPOs).
− Provider sponsored organizations (PSOs).
− Private fee-for-service plans.

As an individual, the benefits under Medicare Part C are varied and are dependent on your unique situation. Medicare pays a fixed amount for your care each month to the companies offering Medicare Advantage plans and those companies must follow the rules set forth by Medicare.

You must be aware Medicare Part C charges different out-of-pocket costs and has different rules for getting services that can change with each year. Medicare is something we’re all going to eventually get, yet people don’t understand it. Costs and regulations vary from state to state, and you need to look at the best coverage because it can be a huge advantage for your future.

Watch the interview on the basics of Medicare with Curt Chojnowski, Principal at Executive Benefits Group and Medicare specialist. Curt has more than 20 years of experience in the industry and focuses on the ins and outs of Medicare coverage.

Medicare Part C plans can offer supplemental benefits not covered by the traditional plan and these plans are prohibited from denying or limiting coverage based on health-status-related factors. One exception: Medicare Advantage plans do not have to accept enrollees who have end-stage renal disease (ESRD).

When choosing a Part C plan, you’re given the ability to change back to Medicare Parts A and B plan at any time during the first 12 months of enrollment. There is also an enrollment period each year from October 15 to December 7, with elections taking effect January 1 of the following year.

Be sure to evaluate all your Medicare options and decide which one will work best for you and your retirement strategy. Working with an independent insurance professional with access to the correct information about the market, cost, benefits and provisions is the wise way to go.

National syndicated financial columnist Steve Savant interviews Curt Chojnowski on the basics of Medicare and the strategies available to seniors. Right on the Money is a weekly talk interview talk show for consumers. The show segments are distributed nationally as daily video press releases.