Medicare Part C - Is it Your Most Affordable Option?

Medicare Part C offers a combination of both Medicare parts A and B, though it does not include Medicare D. Here's a look at whether Part C is an economical option.

While Medicare does offer way for those who are retired to maintain affordable health care, there is no such thing as a free ride. For most people there are a lot of out-of-pocket expenses that must be paid over the years while receiving Medicare A and B benefits. The question is whether Medicare part C is really a more cost effective option in the long run.

Signing up for a Medicare C plan is a long term investment because you can usually only switch plans once a year and it has to be within the narrow window that opens November 15 and ends December 31.

Essentially, part C is a way to combine the hospital and medical benefits offered through parts A and B into one policy which runs through an insurance agency rather than the government. These policies are still overseen by the government and legally must cover certain basic medical needs.

What makes a part C plan (also called Medicare Advantage) beneficial is that they can cover a variety of expenses that are not covered under basic Medicare parts A and B. Some policies will even include prescription medication coverage, which is typically offered through Medicare D.

All of the major insurance companies are now offering Medicare Advantage policies, so whether it turns out to be the most affordable option for one individual depends on the plan they select. In most cases, consumers who look around and compare plans can find an Advantage plan that reduces the out-of-pocket expenses they normally pay with coverage under parts A and B.

The only restriction for Medicare part C is that no one with end-stage renal disease can sign up. Beyond that, anyone with any type of medical condition can sign up for part C coverage with the insurance agency of their choice.

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