Which part of Medicare is managed by private 3rd party payers?

Medicare Part C, also known as Medicare Advantage, is the correct answer because it is the part of Medicare that is offered through private insurance companies approved by Medicare. These private companies manage the benefits of Medicare, allowing them to provide a variety of plan options that can include additional coverage not found in original Medicare, such as vision and dental services.

Part C combines the benefits of Medicare Part A (hospital insurance) and Part B (medical insurance) into one plan and often includes a prescription drug coverage as well. Since these plans are run by private insurers, beneficiaries can choose different plans based on their health needs and financial situations.

In contrast, the other parts of Medicare, such as Part A and Part B, are administered directly by the federal government. Part D, which handles prescription drug coverage, is also managed through private insurance companies, but it is separate from the combination of services offered in Part C. Thus, the defining feature of Part C is its management and availability through various private payers, making it a unique aspect of the Medicare program.