Medicare Part C plans, also known as Medicare Advantage plans, are private health insurance plans, mainly HMOs and PPOs, for people enrolled in Medicare. Medicare Part D is Medicare prescription drug coverage.
If you enroll in a Medicare Advantage plan, you still have Medicare, but you get all of your Medicare-covered benefits through a private plan. Most Medicare Advantage plans also cover prescription drugs (Part D) and may cover other services, such as vision, dental, and hearing benefits. Enrolling in a Medicare Advantage (Part C) plan will also limit your out-of-pocket expenses, as they include a max-out-of pocket on covered health expenses, which Original Medicare alone would not.
Medicare Part D is Medicare prescription drug coverage that is offered by private insurance companies. If you are covered under traditional Medicare and you want drug coverage, you can enroll in a stand-alone drug plan during the Medicare Annual Election Period. If you did not sign up for a Part D plan when you got your Part A and Part B coverage and you do not have another source of drug coverage that is at least as good as Part D coverage, be aware that you may be charged a late enrollment penalty. Once you are enrolled in a Part D plan, you can switch drug plans during the Medicare Annual Election Period (AEP) each year.
To learn more about the Medicare Advantage plans and the Medicare Part D plans in your area, you can contact Twin City Underwriters, for support and guidance from an experienced, licensed agent.