Which of the following correctly defines a Medicare Advantage plan?

A Medicare Advantage plan, also known as a Part C plan, is designed to provide participants with Medicare hospital and medical insurance benefits, encapsulating the coverage of both Medicare Part A (hospital insurance) and Part B (medical insurance). These plans are offered by private insurance companies that have been approved by Medicare and must cover all the services that Original Medicare covers, although they may do so with additional added benefits and different rules, premiums, and out-of-pocket costs.

It's important to note that Medicare Advantage plans can also offer additional benefits, such as dental, vision, and wellness programs, which further enhances their value. In contrast, other options provided do not depict the complete or correct representation of Medicare Advantage plans. For example, Medicare Advantage plans are available not only for individuals under 65 but also for seniors, and they can include prescription drug coverage (known as Part D). Additionally, while Medicare Advantage plans are indeed offered by private insurers, they are not limited to just these companies, as they operate under Medicare guidelines and frameworks.