Medicare choices today may matter more later
I have been privileged to help several thousand people who were going on Medicare understand their Medicare options so they could make the right Medicare decision for them.
While many people I help understand the long-term implications of the choices they make when they first go on Medicare, I often talk with someone who does not yet realize the Medicare choices they make when they first go on Medicare are often long-term rather than short-term decisions.
The conversation will often go something like this…
“Hi Charlie…this is Robert. I am turning 65 and going on Medicare next month. I need to decide what Medicare plan I need. I am in good health, take no medications and only see a doctor once or twice a year.”
If I were helping this same person with his property insurance, the same logic would go something like this…
Hi Charlie…this is Robert. I just bought a new house and I need to choose a property insurance policy. I just looked out the window and my house is not on fire and it is not raining so I’m not worried about floods.”
The choice you make about how you receive your Medicare and which insurance company you trust with you health and finances can and often is a permanent decision that will impact you the rest of your life.
It is a decision that should be made not based on what your health happens to be today but what it could be in the future.
The reason for this is that after you have been on Medicare for only six months, your ability to change your decision is dependent on you not having any serious health issues. Of course, none of us knows what our health may be in the future.
A few years ago, I received a call from a lady in Tennessee who had enrolled in a private, for-profit Medicare Advantage plan. She wanted to pay less than she would by staying with regular Medicare and having a Medicare Supplement.
Though she had no health issues when she made this decision several years earlier, she had been diagnosed that year with Multiple Myeloma and had been forced to spend more than $10,000 out of her own pocket for medical treatment and medications.
She had called me to ask me to help her return to regular Medicare and get a Medicare Supplement that would pay her share of Medicare. I had to explain to her that because she now had a serious health problem she would be declined if she applied for a Medicare Supplement.
Her only choices were to stay with a Medicare Advantage plan and pay more than $10,000 a year out of her pocket or return to regular Medicare but pay her full 20 percent share of her medical costs. Either choice would require her to pay money that she simply did not have.
She told me that because she had chosen to leave regular Medicare and enroll in a Medicare Advantage plan, she would likely have to sell her house and move in with her daughter in another city in order to afford her costs with the Medicare Advantage plan.
When you first go on Medicare, you have the opportunity to secure your financial future and ensure the maximum access and choice in your health care for the rest of your life by simply staying with regular Medicare and enrolling in a Medicare Supplement that will pay your approximately 20 percent share of your Medicare costs.
If you choose instead to leave regular Medicare and enroll in a private, for-profit Medicare Advantage plan, you could end up paying tens of thousands of dollars more if you become sick and have limited choices of doctors.
I would appreciate the chance to help you understand your Medicare options so you can choose the right Medicare plan for you both now and in the future.
I will assist you with every part of your transition to Medicare including:
- Fully understanding how Medicare works
- Understanding your Medicare options if you are still working
- Enrolling in Medicare Parts A and B
- Identifying the right Medicare Supplement for you
- Identifying the right Medicare Part D Drug plan for you
- Assisting you with enrolling in the Medicare plans you choose
Simply click on the following link to ask me to call you.
Thank you for allowing me to help you with your Medicare and I look forward to talking with you soon.
Please feel free to call me at the number below for immediate assistance.