Medicare Parts A and B might be the most common plans, but they are not the only ones. Medicare Part C is another consideration, also known as the Medicare Advantage Plan. Medicare Part C is slightly more complex compared to the other plans because it is available through private insurance companies instead of the federal government.

As a result, the eligibility requirements and exact coverage varies depending on where you live. There are also more Medicare Part C plans to choose from, which gives it more flexibility and customization compared to the traditional plans.

While private insurance companies have greater flexibility over what services are included in Medicare Advantage Plans, they must follow several guidelines set by the federal government. Because Medicare Part C is meant as an alternative to parts A and B, hospital and preventive services are included in Part C.

Federal stipulations also affect how much private insurance companies can charge. These restrictions are meant to keep insurance premiums affordable, allowing lower-income applicants who do not qualify for Parts A and B to still get extensive coverage without going into debt.

Shopping for Medicare Part C is more involved than A and B because you have to go through multiple plans.

While this takes longer, it also comes with some advantages. Insurance providers are more flexible with Part C plans, so you can customize your coverage to only include the most vital services for your medical needs.

Depending on how you tailor your plan, you may end up spending less than if you applied for Parts A and B. However, this is not a guarantee, and not all private insurance companies allow you to change your plans.

Many Part C providers offer additional packages on top of the base plan. These cover other services, such as:

• Vision.
• Health.
• Dental.
• General wellness services.

Another popular service available through Medicare Part C plans is prescription drug costs. Normally, these costs are only covered by Parts D, or available in a limited capacity through Part B. If you prefer to have your insurance bundled under one simple plan, Part C may be the most convenient option.

The application process also varies with Part C. Private insurance companies will create their own applications, but one of the most important differences is the plans are available throughout the year and not only during the open enrollment period.

This also means you may be able to get immediate coverage under Part C. If you decide to cancel your Part C coverage and switch to one of the federal plans, you have a small window known as a special enrollment period to apply for Original Medicare coverage.

It is still possible to apply after the special enrollment, but you will be charged a penalty and may have to wait for your coverage to begin.