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Yes, it’s true – some Medicare Advantage plans can have premiums as low as $0. You might wonder how they can offer plans so cheaply. Here’s some information that might help explain.
Medicare Part C, the Medicare Advantage program, lets Medicare-approved private insurance companies offer plans that provide your Medicare Part A and Part B benefits. A $0 premium Medicare Advantage plan, like other Medicare Advantage plans, might include prescription drug coverage. Plans may include other benefits too – routine dental services, for example.
Medicare pays insurance companies a fixed amount of money to provide your Medicare Part A and Part B coverage. $0 premium Medicare Advantage plans have to follow Medicare rules, but have some flexibility in setting their premiums and cost sharing amounts. The same is true for all Medicare Advantage plans. Learn more about what you need to know about Zero-Premium Medicare Advantage Plans.
Just because you may have found a $0 premium Medicare Advantage plan in your area, that doesn’t automatically mean it’s the best plan for you. $0 premium Medicare Advantage plans may have other expenses, such as copayments, coinsurance, and deductibles. Also, different plans may include different extra benefits.
Copayments and coinsurance are cost-sharing amounts you may have to pay towards covered medical services. For example, a Medicare Advantage plan might cover 80% of a certain doctor visit, and you might have to pay the remaining 20% coinsurance.
A deductible is an amount of money you may have to pay for medical services before your plan begins to cover them. Generally deductibles apply on an annual basis. For example, if your plan’s deductible is $700 per year, and you spend at least that amount during one year, your spending amount resets to $0 at the beginning of the next year. So, you might have to pay $700 out-of-pocket every year before your plan starts covering certain services.
Deductibles, copayments, and coinsurance can vary among plans. Keep that in mind as you compare $0 premium Medicare Advantage plans with other Medicare Advantage plans.
Want to explore Medicare Advantage $0 premium plans right away? Just type your ZIP code into the box on this page and click Find Plans.
eHealth's Medicare website is operated by eHealthInsurance Services, Inc., a licensed health insurance agency doing business as eHealth. The purpose of this site is the solicitation of insurance. Contact may be made by an insurance agent/producer or insurance company. eHealth and Medicare supplement insurance plans are not connected with or endorsed by the U.S. government or the federal Medicare program. We offer plans from a number of insurance companies.