1. Leverage the plan's additional benefits to stay healthy. Medicare Advantage plans are designed to do more than just help beneficiaries when they are sick. The plans cover all of the preventive services covered by Original Medicare, such as certain cancer screenings and an annual wellness check-up, usually at no additional out-of-pocket cost to the member. These types of services are key to catching health problems early, before they have become serious.

In addition to all of the services covered under Original Medicare, many Medicare Advantage plans provide additional benefits that can help beneficiaries maintain or enhance their health. Wellness programs, gym memberships, disease management programs and 24/7 access to registered nurses are examples of the benefits and services available with many Medicare Advantage plans.

Beneficiaries should take some time to learn about the extra programs and services their plan offers and determine which ones fit into their overall health and wellness plan. Considering the savings and health benefits that could be realized, this is time well spent.

2. Take advantage of cost-savings on prescription drugs. Beneficiaries enrolled in a Medicare Advantage plan that includes drug coverage should check their plan details to see if they could save money on their prescriptions.

Mail-order pharmacy benefits can be a great way to save not only money but also a trip to the pharmacy. Some mail-order pharmacy services offer the convenience of ordering a three-month supply of drugs that are delivered to the member's home for a lower cost than purchasing the same quantity of drugs at a retail location. Some plans have dropped the co-pay to $0 for select drugs when purchased from the plan's preferred mail-order pharmacy.

Beneficiaries who prefer to visit a pharmacy to get their drugs should check to see if their plan offers any programs to help members save additional money on their prescriptions. For example, UnitedHealthcare's Pharmacy Saver program reduces members' out-of-pocket costs on hundreds of generic prescription medications when purchased at pharmacies participating in the program.

Switching to generic or lower-tier drugs is another step that could save beneficiaries a significant amount of money. The majority of Medicare Advantage plans that include a prescription drug benefit cover most generic drugs for very low or no additional cost to the member. Prescription drugs are typically sorted into several tiers on the plan's formulary, or approved drug list, with drugs on lower tiers generally costing less than drugs on higher tiers. Beneficiaries should review their plan's formulary and check with their doctor and plan to determine if a drug on a lower tier might be suitable to treat their condition.

3. Understand the plan's care provider network, and stay in network as much as possible. Most Medicare Advantage plans work with a network of doctors and pharmacies to coordinate the care that their members receive. In addition, private insurers negotiate with doctors and pharmacies to offer special pricing, which translates into lower costs for members. Whenever possible, Medicare beneficiaries should visit in-network doctors and pick up their drugs from in-network pharmacies to help save money.

Some Medicare Advantage plans allow members to see out-of-network doctors, but the price of the services provided is usually higher. And some plans do not cover services provided by out-of-network doctors, so it is important for beneficiaries to understand their plan's policies before seeking care.

4. Look for extra plan discounts on every-day health care items and services. Medicare Advantage enrollees can rack up valuable savings by taking advantage of discounts on things they already use or need, such as vitamins, hearing aids and alternative medicine services such as acupuncture. For example, in most regions of the country, members enrolled in UnitedHealthcare's Medicare Advantage plans can access high-tech, custom-programmed hearing devices either for a low copayment or at a discounted price. Because Original Medicare does not cover the substantial cost of hearing devices, this feature could potentially save UnitedHealthcare members thousands of dollars.

Beneficiaries should review their plan materials to familiarize themselves with the discounts and other offers available to them and then make sure they remember those discounts every time they purchase the item or service.

5. Plan yearly health care expenses with the out-of-pocket maximum in mind. Unlike Original Medicare, Medicare Advantage plans are required to cap their members' annual out-of-pocket expenses. In 2012, the maximum amount a Medicare Advantage enrollee can be asked to pay out of pocket for in-network medical services is $6,700. Some plans set their out-of-pocket maximum at lower levels. Prescription drug costs, such as co-pays, are not included when calculating a member's progress toward the out-of-pocket maximum.

Once a beneficiary has reached the out-of-pocket maximum set by his or her plan, all additional costs for Medicare-covered services for the remainder of the year are 100-percent covered. This cap on health care costs can give beneficiaries peace of mind. In the event of an unexpected illness or hospitalization, knowing the expenses are limited by the plan's out-of-pocket maximum can be comforting. The out-of-pocket limit can also be a helpful number to keep in mind for beneficiaries who are planning to undergo major medical procedures in the coming year.