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  • Writer's pictureJamie Smith

Frequently Asked Questions About Medicare Advantage

Updated: Oct 26, 2023

Your Medicare Advantage Q&A

Senior Solutions is the Medicare Division of Bedrock Financial Group
Senior Solutions is the Medicare Division of Bedrock Financial Group

There are many questions and often confusion regarding Medicare Advantage Plans. They also sound like they're just too good to be true. Joe Namath is on the TV talking about "The Give Back Benefit." JJ Evans is saying "Dyn-O-Mite" again. Most use the word 'free", and even though that sounds good, how do you know if it is right for you?

Separately, Original Medicare Part A is Hospital Insurance, and Part B is Medical Insurance. Part D has an additional Premium and covers prescription drugs with no other benefits. In contrast, a Medicare Advantage Plan (Part C) is a bundled option that combines Original Medicare Parts A and B with D and additional benefits such as vision, hearing, dental, fitness, and more.

Senior Solutions has been helping folks navigate Medicare since 2018, and our Agents have compiled a comprehensive list of the most frequently asked questions concerning Medicare Advantage Plans.



Q. Why would I need a Medicare Advantage Plan?

A. If you have a Medicare Supplement - Medicare Supplements, also known as Medigap, have a monthly premium that increases yearly; eventually, the amount you pay for the premium will exceed the maximum out-of-pocket expense of a Medicare Advantage Plan. In addition, Supplements do not offer additional benefits such as dental, hearing, vision, and more.

Medicaid already pays for everything - Yes! However, you do not receive additional dental, vision, hearing, and more benefits. When you have Medicare and Medicaid, you are then "Dual Eligible," which means your Medicare Advantage Plan covers everything you've already received and adds extra goodies.

I have Original Medicare, and I'm good. - Yes! You are covered. However, as with the others listed above, you still would not have the additional benefits you receive with a Medicare Advantage Plan.

Q. So how are Premiums $0?

A. The Federal Government contracts with private insurance companies to provide you with a plan. The government pays the insurance company a flat fee through the contract. The insurance company then creates agreements with a network of hospitals/providers, which keep your costs low as long as you stay within the network.

Q. Will it replace my Medicare?

A. No. Instead, Medicare Advantage is an alternative to Original Medicare.

Q. Will my prescriptions be covered?

A. Yes! Medicare Advantage Plans will cover most prescriptions; our Advisors know how to review your medication and pick your best plan. In addition, we are contracted with all major carriers to cover you.

Q. Do I have to change my Doctor (s)?

A. Since we are contracted with all the major carriers, we will find you a plan covering your Doctor (s).

Q. I have a preexisting condition.

A. Not a problem. Medicare Advantage Plans accept preexisting conditions.

Q. What if I don't like it?

A. You can change once per quarter for those with a subsidy; otherwise, you have the Annual Election Period, where you can make changes from October 15th - December 7th, or you have a one-year free look-in period.

Q. What is the Giveback Benefit?

A. Certain Medicare Advantage Plan carriers may offer the Part B Giveback, a Medicare Part B Premium reimbursement. However, not everyone qualifies, and not every carrier offers it. There may be other plans better suited to your needs. Our Advisors strive to become your trusted source of information and agent, ensuring you are in the best available plan.


Overall, the key takeaway for a Medicare Advantage Plan is to have the right Advisor. Every person's situation is unique, and we understand that.

The new benefits for 2024 will be available soon, and we're setting up complimentary Medicare Benefit Reviews starting October 1st. If you would like to reserve a spot to go over the 2024 Plans, please send an email to


Bedrock Financial Group is a Veteran and First-Responder owned full -service insurance agency.
Bedrock Financial Group, your full-service insurance agency.
Want to know more?

At Bedrock Financial Group, we're a Veteran and First-Responder-owned full-service insurance agency. We provide complimentary consultations and no-cost Medicare reviews. Our home office is located in New Albany, IN. We have a Senior Resource Center in Stanford, KY, and another office coming to Asheville, NC. We also offer the following services:

  • Life Insurance

  • Wealth Management

  • Home + Auto

  • Renter's + Condo + Home Insurance

  • Medicare Plans

  • Medicare Advantage Plans

  • Medicare Supplement (Medigap)

  • Hospital Indemnity

  • Final Expense (burial planning)

  • Mortgage Protection

  • Business Insurance

  • Retirement Planning

  • Medicare Enrollment Help

  • + More

We service the following states: Florida, Georgia, Illinois, Indiana, Kentucky, Michigan, Missouri, North Carolina, Ohio, Oklahoma, Pennsylvania, South Carolina, Tennessee, Texas, Virginia, Alabama, Connecticut, and West Virginia.

If you have Medicare questions, you can call our team at 502-200-1516. If you want to schedule an in-person Medicare Benefits Review, please call 833-905-1060. If you would like a comprehensive overall review, call 833-905-1060 or email with your contact information, including your name, city, state, and phone number, and we will connect with you.


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