Medicare Advantage Also Known as Part C
Medicare Advantage plans are an alternative to Original Medicare, Part A and Part B. Instead of having Medicare benefits administered through the government-run program, beneficiaries can choose to get their coverage through a Medicare Advantage plan, available through private insurance companies that contract with Medicare (Government). Medicare Advantage plans are different from Medicare Supplement plans. Some doctors refer to them as Medicare replacement plans or Medicare replacement insurance. These plans often have networks and some plans may require you to get referrals to see a specialist.
Below is the current Medicare Advantage Statistics in our Nation (according to Kaiser Family Foundation):
- 59% of Medicare Advantage enrollees are in plans operated by UnitedHealthcare, Humana, or BlueCross/BlueShield affiliates in 2019
- 34% of ALL Medicare beneficiaries (22 million) are enrolled in Medicare Advantage plans as of 2019
- Out of the 22 million, 62% are in HMO’s with the rest in local or regional PPO’s.
- 29% of new Medicare beneficiaries enrolled in an Advantage plan during their first year on Medicare.
Medicare Advantage plans has grown in the Medicare program over the past decade and will continue to trend in the Medicare Arena. More than 22 million Medicare beneficiaries are enrolled in Medicare Advantage plans as of 2019. Medicare Advantage plans are private plans alternative to the traditional Medicare (Government) program.