Medicare Advantage (Part C)
An overview...
Medicare Advantage (Part C) plans are administered by private insurance companies and combine your Medicare Part A (hospital coverage) and Part B (medical coverage) all in one plan and may, and usually does, include prescription drug coverage. Additionally, these plans often also offer additional benefits such as dental, vision, hearing, well being and even fitness memberships that Original Medicare does not offer.
Medicare Supplement Insurance
An overview...
Generally speaking Original Medicare (Parts A & B) only covers about 80% of all eligible health care services. This leaves the Medicare beneficiary responsible for the remaining 20% of the cost. Medicare supplement insurance plans, also know as Medi-gap plans, help pay some of the out-of-pocket costs not paid by Original Medicare.
Medicare Prescription Drug (Part D)
An overview...
Medicare Prescription Drug Plans (Part D) are stand-alone plans that help pay for prescription drugs. Like Medicare Advantage Plans (Part C) they are administered by private insurance companies. Part D plans may be combined with Original Medicare and/or a Medi-gap plan, as well as with only certain Medicare Advantage plans that happen to NOT include prescription drug coverage already.
Special Needs Plans
An overview...
Special Needs Plans are Medicare Advantage plans designed for individuals with specific needs that include prescription drug coverage. These plans may also include other benefits like individual care coordination and transportation to and from providers. There are different types of Special Needs Plans (SNP) including Dual Special Needs Plans (DSNP) for people specifically with both Medicare and Medicaid.