When you enroll in a Medicare Advantage plan, you won’t get coverage for Original Medicare Parts A and B through the federal government. Instead, the company you purchase your plan from will administer those benefits, along with any additional benefits and perks the plan offers.

Medicare Advantage plans usually appeal to people who:

• Prefer lower monthly premiums, even if it means higher out-of-pocket costs later
• Don’t mind having a fixed network of doctors and providers for the most favorable coverage
• Like the convenience of all their health care coverage (such as medical, prescription drugs, dental, vision and hearing) in one place

Medicare Advantage plans often include features and benefits that don’t come with Original Medicare alone. Perks vary by plan but may include:

• Prescription drug coverage (Part D)
• Options for Medicare dental coverage
• Costs for in-network doctor visits and covered services that are usually lower than Original Medicare
• An out-of-pocket maximum to make sure your spending never goes over a certain amount each year
• A Medicare Part B giveback benefit that credits money back to your Social Security check or Medicare Part B premium statement
• Medicare travel coverage
• Vision and hearing benefits
• Health and fitness tools

Check the details of the private Medicare plan you’re interested in for more information.

Like most health insurance plans, Medicare Advantage plans have a network of doctors, providers, clinics and hospitals. In general, Health Maintenance Organization (HMO) plans have the smallest networks, while Preferred Provider Organization (PPO) and Private Fee-For-Service (PFFS) plans have larger networks.

Covering care within a defined provider network helps plans keep costs low. This is why Medicare Advantage plans can often offer costs for in-network doctor visits and covered services that are lower than Original Medicare.

There are several times throughout the year when you can enroll in or change your Medicare Advantage plan, including:

• Annual Enrollment Period: October 15 to December 7 – During Medicare’s Annual Enrollment Period (AEP), you can enroll in a Medicare Advantage plan for the first time or switch to a different plan. You can also drop your plan and go back to Original Medicare. Coverage from any new plan starts on January 1 of the next year.
• Medicare Advantage Open Enrollment Period: January 1 to March 31 – If you’re enrolled in a Medicare Advantage plan, you have an opportunity to change plans between January 1 and March 31 each year. You can switch to a different Medicare Advantage plan or go back to Original Medicare.
• Initial Enrollment Period: When you turn 65 – If you sign up for Original Medicare during your Initial Enrollment Period (IEP), you can enroll in a private Medicare plan any time after you’ve signed up for Original Medicare and are still in your IEP.
• Special Enrollment Period (SEP) – After certain events, such as moving or losing your current Medicare plan, you may qualify for an SEP that allows you to enroll in a different plan.