So, you’ve turned 65 and you’re wondering what to do about Medicare. Some people are still covered through their employer and can keep that coverage for a while, but in many cases it’s worth comparing options — you might save money or even improve your benefits. For most folks, this is the moment they hit a Medicare fork in the road.
The core decision comes down to two paths:
- Stick with Original Medicare and add a Supplement (Plan F, Plan G, Plan N, etc.), or
- Choose a Medicare Advantage plan, which replaces your Medicare coverage with an all-in-one alternative.
What are the differences?
Original Medicare with a Supplement: Medicare covers 80% of approved medical costs, leaving you responsible for the remaining 20%. That 20% has no cap, which can be risky — unless you add a Supplement. Supplement plans (like Plan G, Plan N, Plan F, etc.) are designed to cover that 20% and dramatically reduce your out-of-pocket expenses. Some include small deductibles or copays. You can use them anywhere Medicare is accepted, and because they’re offered by private insurers, they come with broad flexibility, easy travel, and very few restrictions. It’s a strong option for many seniors.
Medicare Advantage: Advantage plans take the place of your Medicare coverage, so if you choose one, your Medicare card stays in the drawer. They bundle your medical and prescription benefits into a single plan. Most have networks you need to follow and may include prior authorizations or referral requirements. Depending on your ZIP code, you’ll usually see several plan options, and each one works a little differently.
You can generally expect more out-of-pocket costs with an Advantage plan, and every plan includes a maximum out-of-pocket limit — the most you can spend on medical care in a year (not including drug costs). Advantage plans can be a great fit for people who prefer an all-in-one solution and want to avoid a monthly premium.
Both options have a place in the Medicare world, and each one works differently, so make sure the choice truly fits your needs. There are other factors to weigh when comparing them, so don’t hesitate to reach out to us at 800-750-2407.
God Bless!
