Ask The Hammer – Medicare
Bob talks to Jeffrey Levine, CPA/PFS at Buckingham Wealth Partners about Medicare open enrollment options for traditional Medicare vs Medicare Advantage.
Key Takeaways
- Review your Medicare plan every year during open enrollment (October 15th) even if nothing seems to have changed, because formularies and plan options may have improved
- Choose traditional Medicare if you want maximum flexibility to see any doctor; choose Medicare Advantage if you want lower costs and don't mind using a specific network of providers
- Always check Part D prescription drug coverage annually by reviewing formularies—your current medications may now be on a better plan's preferred list, potentially saving you money
- Don't rely on a single insurance agent; get quotes from multiple providers (use Medicare.gov as a baseline, consult SHINE/SHIP representatives, or work with independent financial advisors) and compare plans side-by-side
- Contact your insurance provider directly to confirm coverage specifics, especially regarding concerns like COVID treatments, rather than making assumptions about what your policy covers
Ask The Hammer - Medicare: In this episode of Ask The Hammer, Jeffrey Levine, CPA/PFS at Buckingham Wealth Partners talks about Medicare open enrollment options for traditional Medicare vs Medicare Advantage. Watch more episodes of Ask The Hammer at this link: https://www.finstream.tv/videos/ask-the-hammer/
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