When you turn 65, it will be time to decide whether to enroll in regular Medicare or a Medicare Advantage Plan. You may already know that Medicare Advantage plans offer more services, and you may be aware that some Advantage plans claim to be free. Before you decide, here are some things you need to know.
Medical insurance companies—as well as any insurance company—exist to make a profit. With medical costs as high as they are today (and you can expect them to keep rising), any insurance company not making a profit will not stay in business very long. It means that somehow they will make a profit from you.
The Services Medicare Advantage Plans Offer
One reason that Medicare Advantage plans have become so popular and continue to grow in popularity is because of the extra services. Medicare insurance does not provide dental, eyeglasses, hearing, or wellness plans, but many Advantage plans will. Since people going on Medicare are 65 or older, these extras are something that most seniors want.The Government’s Part
Around the time you turn 65, if you are employed, you need to enroll in Medicare. Traditional Medicare offers parts A (which is free if you qualify), B, D, and some supplemental parts. Medicare Part C coverage is the advantage plan, and it combines parts A, B, and D.
