Medicare Advantage 101 | Melissa Cox CFP

Jun 30, 2020
Financial Services

Introduction to Medicare Advantage

Welcome to the comprehensive guide on Medicare Advantage plans brought to you by Melissa Cox CFP and I Am Future Proof. If you're new to Medicare or considering switching your coverage, this resource will help you understand the basics of Medicare Advantage and make informed decisions regarding your healthcare.

What is Medicare Advantage?

Medicare Advantage, also known as Medicare Part C, is a type of health insurance option available to individuals who are eligible for Medicare. These plans are offered by private insurance companies approved by Medicare, and they provide an alternative way to receive your Medicare benefits.

Medicare Advantage plans combine the coverage of Original Medicare (Part A and Part B) with additional benefits like prescription drug coverage (Part D), vision, dental, and hearing services. These plans often include network restrictions, such as preferred provider organizations (PPOs) or health maintenance organizations (HMOs), which may impact the doctors and hospitals you can visit.

Benefits of Medicare Advantage

One of the key advantages of Medicare Advantage plans is the comprehensive coverage they offer. In addition to the hospital and medical services covered by Medicare Part A and Part B, Medicare Advantage plans typically include prescription drug coverage, which can help you save on medication costs.

Furthermore, Medicare Advantage plans often provide coverage for additional services not covered by Original Medicare, such as routine dental cleanings, vision exams, hearing aids, and fitness programs. These extra benefits can contribute to your overall well-being and potentially save you money in the long run.

Choosing the Right Medicare Advantage Plan

With various Medicare Advantage plans available, it's essential to understand your unique healthcare needs and evaluate different options. When selecting a plan, consider factors such as:

  • Monthly premiums
  • Annual deductibles
  • Out-of-pocket maximums
  • Network restrictions
  • Prescription drug formularies
  • Extra benefits included

It's also crucial to review the list of preferred healthcare providers in your area to ensure your preferred doctors or hospitals are in-network. Making an informed decision based on your budget, healthcare needs, and desired benefits will help you find the best Medicare Advantage plan for you.

Enrollment and Eligibility

To be eligible for a Medicare Advantage plan, you must meet the following requirements:

  • Be enrolled in both Medicare Part A and Part B
  • Reside in the plan's service area
  • Not have end-stage renal disease (ESRD) (in most cases)

Medicare Advantage plans have specific enrollment periods, including the Initial Enrollment Period, Annual Enrollment Period, and Special Enrollment Periods. It's important to understand these enrollment periods and their corresponding deadlines to ensure you don't miss out on the opportunity to enroll or make changes to your coverage.


In summary, Medicare Advantage plans offer a comprehensive, all-in-one healthcare coverage option for individuals eligible for Medicare. They provide additional benefits beyond Original Medicare and can potentially save you money on prescription drugs and other healthcare services.

Ensure you understand your healthcare needs, review different plan options, and consider important factors before making a decision. Partnering with a trusted financial professional like Melissa Cox CFP at I Am Future Proof can help you navigate the complexities of Medicare Advantage and make the most suitable choice for your healthcare coverage.

Remember, your health is your future, and I Am Future Proof is here to guide you towards financial and healthcare security.

Mia Hawley
Great resource for understanding Medicare Advantage and making informed healthcare decisions. Thanks for sharing, Melissa Cox CFP!
Nov 8, 2023