We advise our clients and their family members as they go through healthcare insurance decisions. Signing up for Medicare at age 65 can be confusing, especially the decision about supplemental insurance, Medigap vs. Medicare Advantage.
Sometimes we use consultants to help make that decision. We avoid consultants who appear to only recommend Medicare Advantage plans. Our preference is usually for the traditional Medigap policy.
A big reason is the certainty of coverage. Yes it might be a tad more expensive but Medicare Advantage plans can be discontinued and the replacement plan may not offer cover the same drugs or treatments. Another reason is your health may change and the Advantage plan you selected may not be as economical once you need more medical services, and you might not qualify for Medigap coverage after your initial Medicare signup.
Here's another reason. Do you trust the Medicare Advantage insurance companies to honor your claims? They might drag things out when you need life-saving treatment immediately.
