By SYLVIA GORDON
Guest Columnist
When you age into Medicare, you have a choice how to supplement the coverage gaps in Original Medicare A and B. You can choose to pay more upfront on a monthly basis, whether you use your insurance or not; or you can pay as you go with little to no cost each month if you don’t use your plan.
There you have the simplest explanation of a Medicare Supplement versus a Medicare Advantage plan. Neither plan is better than the other. They are priced very differently and depending on where you live and how healthy you are, you might save a lot on one plan over the other.
My clients are very efficient. They don’t want to hear a long pitch about the merits of all the Medicare plans that are available in Hamilton County. “I trust you, just tell me what is the best plan,” is a common statement I hear. Oh, how I wish it were that easy. Actually, I’m glad that it is NOT that easy, or I’d be out of a job.
Spoiler alert – there is no Best Plan. A Medicare insurance expert should try to find the best plan for you, and that is often not the best plan for your spouse or sister. People are often confused when they refer a client to me and I sell them something different. Spouses expect to be put on the same plan as they have often been on the same group health plan for years. But Medicare is not a package deal. Do you and your spouse go to the same doctors? Do you both take the same medications? Sure, you share the same budget, but do you have the same risk tolerance? You see my point. You are individuals and you each need a plan that fits your unique situation.
“But I heard AARP is the best and I want the best,” I’ve heard many times. Yes, I sell a lot of AARP, but also a lot of Aetna, Mutual of Omaha, Anthem, United American, etc. What was the best plan for your sister might not be for you.
To further complicate matters, plans are priced by counties or zip codes. Your neighbor across the street might be in a different zip code and be charged a different price for your same plan. This makes most people think something is amiss.
Similarly, if I determine that you are on the “best plan” for Indiana and you later move to Florida, prepare to pay more for the same plan, often much more.
Sylvia Gordon is the president of Gordon Marketing, headquartered in Noblesville, where she trains on Medicare and Social Security in all 50 states. You can contact her at sgordon@gordonmarketing.com.