Once you turn 65, you'll generally be able to sign up for Medicare. But you don't have to stick to original Medicare. Instead, you could sign up for a Medicare Advantage plan. Medicare Advantage plans are offered by private insurers, and they're required to offer at least the same level of coverage as original Medicare. But it's common for Medicare Advantage plans to offer supplemental benefits beyond what original Medicare covers. Will AI create the world's first trillionaire? Our team just released a rep ...

Key Points It's common for Medicare Advantage plans to change from one year to the next. You may be looking at higher deductibles or copays than you were in 2025. Your plan's network may have changed, and the same applies to your plan's benefits. The $23,760 Social Security bonus most retirees completely overlook › The nice thing about being signed up for original Medicare is that the rules are pretty much the same for everyone. Granted, some people pay more for Medicare Part B if their income i ...

Core Insights - A 65-year-old person retiring in 2025 can expect to spend an average of $172,500 on medical and healthcare expenses during retirement, with married couples averaging $345,000, excluding long-term care and other services [1] Group 1: Medicare Coverage and Costs - Medicare provides significant healthcare coverage starting at age 65, but individuals must choose between "original" Medicare and Medicare Advantage plans, along with considering supplemental policies [2] - Medicare premiums are set to increase in 2026, with the standard premium rising to $202.90 per month, a 10% increase from 2025 levels [4] - Prescription drug coverage under Medicare Part D will see a higher deductible of $615 in 2026, up from $590 in 2025, marking a 4% increase, and the out-of-pocket spending cap will rise by 5% from $2,000 to $2,100 [5][6] Group 2: Changes in Medicare Policies - Some Medicare costs are increasing, while certain prescription drug costs may decrease, indicating a mixed trend in healthcare expenses [8] - Medicare Advantage plans will require prior authorizations for certain treatments and procedures, a shift from the previous practice in original Medicare where doctors had more discretion [9]

Core Insights - Medicare beneficiaries will have the option to choose between original Medicare and Medicare Advantage plans starting in 2026, with Medicare Advantage plans being offered by private insurers that must provide at least the same level of care as original Medicare [1] Group 1: Benefits of Medicare Advantage Plans - Medicare Advantage plans often provide supplemental benefits not covered by original Medicare, such as dental benefits, eye exams, and hearing aids, which can be financially beneficial for enrollees [2] - These plans limit annual out-of-pocket spending, a significant advantage for retirees on fixed incomes, particularly those relying on Social Security [3] Group 2: Drawbacks of Medicare Advantage Plans - Enrollees may find that their preferred doctors are out of network, limiting their choice of healthcare providers [4] - Going out of network can result in higher out-of-pocket costs, as Medicare Advantage plans may not cover care received outside the network [5] - Prior authorization requirements for costly treatments or diagnostic tests can lead to delays in receiving necessary care, with some plans having high denial rates for these requests [6][8] - Individuals who split their time between two states may struggle to access care due to network limitations, making original Medicare a more suitable option for them [9]

Core Insights - The fall open enrollment period for Medicare is nearing its end, emphasizing the urgency for individuals to finalize their coverage choices for 2026 [1] Group 1: Medicare Advantage vs. Original Medicare - Medicare Advantage plans provide a cap on total out-of-pocket costs each year, which can be beneficial for those on a fixed income [2] - Switching to Medicare Advantage may involve limitations on provider networks, necessitating a check on whether preferred doctors are included [3] - Starting over with new healthcare providers can be daunting, especially for individuals managing complex health conditions [4] Group 2: Supplemental Benefits Considerations - Medicare Advantage plans often include additional benefits not covered by original Medicare, such as dental care, eye exams, and hearing aids [5] - Some plans may offer appealing benefits like fitness memberships and meal delivery, but individuals should ensure they will actually utilize these services [6] - It is crucial to avoid spending retirement savings on plans with benefits that do not align with personal needs or circumstances [8] Group 3: Enrollment Guidance - With limited time left for enrollment, individuals should consider factors such as plan benefits, provider availability, and costs when selecting a Medicare Advantage plan [7] - Utilizing Medicare's star ratings system can serve as a guideline, but independent research is also recommended [7]

Group 1 - The core point of the article is that individuals aged 65 and over are likely eligible for Medicare, but many explore alternatives like Medicare Advantage due to original Medicare's limitations and high costs [1][2] - Medicare Advantage plans are administered by private insurers and offer different premiums and rules compared to original Medicare, often providing more covered services [2][4] - Suze Orman emphasizes the importance of paying attention to Medicare Advantage plans, as terms, premiums, and provider networks can change annually, unlike original Medicare [4][5] Group 2 - Orman advises Medicare Advantage members to review their plans each year during open enrollment to ensure they have the right coverage and continuity of care with their chosen providers [5][6] - It is recommended to compare different Medicare Advantage plans annually to find the best coverage suited to current healthcare needs, including checking which doctors are in-network [6][7] - Members of Medicare Advantage plans have a high success rate of 80% in appeals after initial coverage denials, highlighting the importance of understanding the plan's details [7]