What are these medicare advantage plans that i see on tv?

WHAT ARE THE COSTS FOR MEDICARE ADVANTAGE PLANS? You must enroll in Medicare Parts A and B before you can get Medicare Advantage. You need to pay the Part B premium, which is $164.90 a month

for most people in 2023; $174.70 in 2024. You must also pay the Part A premium if required although most Medicare beneficiaries don’t have to pay a premium for Part A. You may have to pay a

monthly premium to the Medicare Advantage insurer. The average monthly premium for Medicare Advantage enrollees is $18 in 2023; $18.50 in 2024, but more than half the plans charge no

premium. Some plans have a premium giveback and refund some money that otherwise would go toward Medicare Part B premiums. Even though Medicare Advantage plans must provide at least as much

coverage as original Medicare, you may have different out-of-pocket costs. For example, you may have a daily copayment for the first few days in a hospital, such as $325 for each of the

first five days as a hospital inpatient, rather than the Part A hospital deductible of $1,600 per benefit period in 2023 ($1,632 in 2024). These copayments can vary by plan. You’ll also have

copayments or coinsurance for your prescription drugs. Unlike original Medicare, Medicare Advantage plans have an annual maximum out-of-pocket spending limit for services covered under

Parts A and B, which must be $8,300 or less for in-network health services in 2023 and $12,450 or less for in-network and out-of-network services combined. Those limits rise to $8,850 and

$13,300 in 2024. Some plans have lower spending limits. WHO IS ELIGIBLE FOR MEDICARE ADVANTAGE? To join a Medicare Advantage plan, you must be enrolled in Parts A and B of Medicare. The plan

cannot refuse your application, regardless of your health needs. In the past, you couldn’t sign up for Medicare Advantage if you had permanent kidney failure, known as end-stage renal

disease. But the 21st Century Cures Act of 2016 changed the rules, and as of Jan. 1, 2021, people with kidney failure can choose either original Medicare or Medicare Advantage. Medicare

Advantage plans cannot charge you higher premiums, deductibles or copays based on your current state of health or preexisting conditions. Some Medicare Advantage plans, called special needs

plans (SNPs), provide coverage for certain groups of people, including plans that focus on coverage for those with chronic conditions, such as diabetes, heart failure or kidney failure. You

can sign up for Medicare Advantage or switch plans only at certain times, including when you first enroll in Parts A and B and during open enrollment each year from Oct. 15 to Dec. 7 for new

coverage starting Jan. 1. If you have a Medicare Advantage plan, you can switch to a different plan or change from Medicare Advantage to original Medicare, from Jan. 1 to March 31 each

year.