How to Compare Medicare Advantage Insurance

Medicare Part C, offered by private insurers, is a voluntary program called Medicare Advantage. You must qualify for Medicare to qualify for a Medicare Advantage plan. Medicare is a federally funded health insurance program available to any one age 65 or older, those who have received Social Security disability for more than two years and those with chronic kidney disease. Medicare Advantage plans must receive approval from Medicare and cover all of Part A -- hospitalization, Part B -- outpatient services, and may offer additional services such as prescription, vision and dental.

Instructions

• 1

  Learn the differences between the types of Medicare Advantage plans such as Health Maintenance Organizations, HMO, and Preferred Provider Organizations, PPO. While one plan type, PPO, may offer greater flexibility in a choice of providers, it may have higher premiums.

• 2

  Utilize the Medicare Advantage plans comparison tool on Medicare's official website. Input your zip code and click "find plans." You will need to answer a series of questions about your current Medicare coverage, drugs you take and your local pharmacies.

• 3

  Narrow down your search by selecting plan types, premium and drug cost ranges you can afford by insurer and any other combination where you have preferences. You may choose to see all options to compare everything that is available to you. Click "continue to plan results."

• 4

  Review all of the plan results the tool produces. You can complete a side-by-side comparison of each plan displayed. Compare each plan's costs and coverages to decide which best meets your needs and budget. The display will show estimated annual drug costs, if you've entered your medications into the tool, monthly premium, deductibles, co-pays, co-insurances and plan rating.

• 5

  Call Medicare for help in comparing Medicare Advantage plans. Consumer representatives will help you sort through the different plan options and explain the application process, if you prefer talking to someone by phone rather than researching the plans online. Each of the private insurers can be reached by phone, as well.