When you are turning 65 or otherwise going on Medicare after age 65 (coming off of employer-type insurance), the choices can be overwhelming. Not only do you have the broad choice of Medigap vs. Medicare Advantage, but within those categories, you have many, many diverse choices among companies and plans.
While all of this can be overwhelming, it is a choice that you need to get “right”. And, what’s “right” for someone else, may not be “right” for you. It should always be based on your own physical and financial condition.
Here are some questions to consider when you are looking at your options:
- How is my overall health? And, what is my realistic projected future health (a guess based on your lifestyle and family risk factors, etc)?
- Do I prefer to have known upcoming expenses or variable expenses that could be either higher or lower than the known expenses?
- Am I on any medications currently and how expensive/inexpensive are those medications?
- Do I fully understand the “Open Enrollment” period and the ramifications of either a. not signing up for any plan or b. not keeping traditional Medicare (i.e. choosing a Medicare Advantage plan)?
- Lastly, do I want to buy insurance based on my current situation only or based on the worst-case scenario of what could happen?
I believe that the answers to these questions should all be considered as part of weighing a decision between a SC Medigap policy and a South Carolina Medicare Advantage plan.
While both options have some definite benefits, there are negatives to each decision. Regardless of how you are choosing to make the decision or weigh the options, it is highly recommended that you do so with the help of a qualified broker, particuarly ones that works with both types of plans. A brokerage can give you unbiased information/comparisons of all of the plans, both Medigap and Medicare Advantage so that you can make an informed and “right” choice to choose what’s best for you.
Secure Medicare Solutions is a leading, independent brokerage that specializes in South Carolina Medicare Supplement plans and South Carolina Medicare Advantage plans. For more information or to talk with a qualified broker that specializes in your specific situation, fill out a South Carolina Medicare Insurance Quotes request.
