Medicare Advantage

Also known as Part C, includes both Part A and Part B. Medicare Advantage plans are owned by private insurance companies approved by Medicare.

Some Medicare plans require you to use health care providers who participate in the plans network.

Some Medicare plans are a zero monthly premium, while others usually have a monthly premium. You may pay a copay or coinsurance for covered services. Several Medicare Advantage plans offer vision, hearing, and dental coverage.

Plans have an annual limit on your out of pocket costs. Once you reach a certain limit, you’ll pay nothing for covered services for the remainder of the year.

Medicare Supplement

This type of insurance is also owned by private insurance companies, and can help pay some of if not all of your copayments, coinsurance and deductibles. Medicare Supplement Plans usually are identified in most states by letters A through D, F through G, and K through N.