I just watched a live seminar about Medicare, Medicare Supplements, and Medicare Advantage. Why should you care? Well, like me, you probably have a family member or friend (if not yourself!) who is around the age that Medicare benefits kick in. So, I wanted to summarize what I learned.
- Anyone who payed into Social Security payroll taxes for at least 40 quarters (ten years) is eligible for Medicare when they turn 65.
- Medicare is not full health coverage: there are deductibles & out of pocket expenses.
- Medicare Supplements are available to cover the gaps in Medicare.
- Medicare Advantage is a plan that replaces Medicare and offers full coverage.
- Depending on what your circumstances, there are different plans to suit your financial & medical needs.
Here is a video about the differences between Medicare Supplements & Medicare Advantage:
For more information about Medicare Supplements & Medicare Advantage, visit Medicare65.