A specific type of private health insurance plan available to individuals eligible for Medicare, it combines hospital, medical, and often prescription drug coverage into a single plan. These plans are offered by private companies contracted with Medicare to provide these benefits. For example, an individual might choose this type of plan for potentially lower out-of-pocket costs compared to Original Medicare.
These options offer beneficiaries an alternative to traditional Medicare, frequently including extra benefits such as vision, dental, and hearing coverage. Historically, the rise of these plans reflects an effort to manage healthcare costs and improve care coordination. The expansion of available choices within Medicare provides beneficiaries with the opportunity to tailor their healthcare coverage to their individual needs and preferences.
