Episode 1: Introduction to Medicare
Mastering Medicare
00:00
Medicare Advantage Plans: What They Are and How They Work
Medicare is basically paying private insurance companies, the big names you know, Vietnam United, Humana, etc. and saying for each Medicare Advantage patient, I'm going to pay you X amount of dollars per month. And if you want to provide additional services beyond that in order to attract customers, that's up to you. Plus the premium that the patients pay, which from a patient's perspective might actually be cheaper than if they bought part A, which is already free, plus part B plus D. So it's the money that the company gets from Medicare plus the Premium that the Patients pay.
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