If you understand how Original Medicare works, then you will be excited to learn about Medicare Part C Plans or Medicare Advantage Plans. Think about Medicare Advantage plans as if you are getting the best of both worlds. The best of Medicare and the best of private insurance all molded in to one, easy to use plan! There are many types of Medicare Advantage plans, such as Preferred Provider Organization (PPO) plans and Health Maintenance Organization (HMO) plans.

It’s important to understand that you’re still enrolled in Medicare when you have a Medicare Advantage plan; you’re just choosing to get your coverage through a Medicare health from a private company instead of through the federal health insurance program. Keep in mind that even if you decide to get your Medicare coverage through a Medicare Advantage plan, you are still responsible for paying your Part B premium (https://www.medicare.gov/your-medicare-costs/part-b-costs) along with required premiums for your plan. Some service areas may offer Medicare Advantage plans with premiums as low as $0; however, even in this case, you’d still need to pay your Part B premiums.

A person’s initial enrollment period begins on your 65th birthday. You have 3 months prior to your 65th birthday, your birth month, and 3 months after your birth month constitute your 7-month initial enrollment period. In most cases, if you don’t sign up for Medicare Part B when you’re first eligible, you will have to pay a late enrollment penalty. You’ll have to pay this penalty for as long as you have Part B and could have a gap in your health coverage.