Recently in Wall Street Journal (October 18, 2021) there was an article titled "8 Things To Know When Picking A Medicare Plan".

Let's look at their recommendations and provide some of our own insight.

1. Supplemental insurance is usually the best option for people who can afford it or who have health issues.

Yes, we agree. But it's also great for those who don't need it ... right now.  As we age, it's more likely that we will need additional medical care, and after-the-fact, it may be impossible to switch from an "Advantage" plan back to a "traditional" Medicare plan, which may limit your access to care... when you need it most.

2. Having Medicare alone is risky.

Yes. We agree.  It's essential to have a supplement plan to cover the excesses you may be charged with your A and B plans.  It's also essential to have a part D plan, and NEVER have a gap in coverage.

3. Medicare Advantage plans are cheaper for seniors in good health.

Yes.  But how do you guarantee that...

Medicare.

Simply the sound of the word creates confusion for most people who are facing or preparing for retirement.  There are many different choices that you need to make that can have significant financial ramifications to the amount and type of coverage you receive.  

One type of Medicare coverage you need to become familiar with, to determine if it's right for you, is the Medicare Advantage plan.  This is also known as a "Medicare Private Health plan" or sometimes called "Medicare Part C".

An advantage plan is a Medicare plan which is offered thought a private insurer.   Such plans have different benefits, sometimes more than a standard plan, but can also have elements of coverage or flexibility that are more restrictive than a traditional Medicare plan.  

Confused yet?  

There are two resources that can help you better understand your options so you may make the best choice for yourself. 

The Kaiser...