Medicare and Life Insurance

Medicare Part C

Medicare Part C

Medicare Part C also known as medicare advantage. It replaces original medicare therefore the private companies like Humana, Aetna,etc. pays your medical bills not the government(original medicare).

The private insurance companies contracts with the government and they receive compensation for each insured senior known as a capitation.

Most medicare advantage plans include hospital/medical insurance, prescription drugs, vsion service, dental service.

Pros: – Monthly premium or rates are much lower.

– Includes prescription drugs, vision and dental services

Cons: – it’s HMO or PPO you are restricted to use doctors or hospitals in the network only.

– co payment and co-insurance are required to pay for health services.

– maximum out of pocket (OOP) for the year can be up to $6,400