What is a characteristic of Medicare Advantage Plans?

Medicare Advantage Plans are characterized by being offered by private insurance companies that have been approved by Medicare. These plans provide an alternative way to receive Medicare benefits and often include additional coverage beyond what Original Medicare offers, such as vision, dental, and wellness services. Since these plans are managed by private entities, they have flexibility in terms of coverage options and services while still adhering to guidelines laid out by Medicare.

The nature of these plans being private means they can be designed to meet the diverse needs of beneficiaries, rather than being strictly government-run. As a result, they can introduce varying premiums, co-pays, and out-of-pocket costs depending on the specific plan and insurer.