ANNUAL ENROLLMENT CLOSES DECEMBER 7TH!
UPDATED FOR ANNUAL ENROLLMENT 2025!
THE SIMPLE 3-STEP MEDICARE GUIDE:
When, Why, and How to Choose a Plan That’s Right For You
(especially if you’re already enrolled)
Whether you’re looking into Medicare for the first time, or taking advantage of Annual Enrollment to update your strategy, we’ve broken down the crucial choices you must make into a simple decision-making tool (including the easy-to-understand questions you MUST ask yourself before choosing a plan).
Important! Medicare rules are changing rapidly. This guide is designed to give you updated information for 2025.
Getting the answers wrong can cost you. Not only is health care likely to be one of your largest expenses in retirement (potentially $172,500 or more over your lifetime), but nearly every American over age 65 must eventually enroll in Medicare.1
Making the wrong choices could potentially cost you in permanent penalties, leave you facing high medical bills without coverage, or force you into a too-expensive plan.
That’s why we're going to walk you step-by-step through a simple set of questions to help you choose a Medicare plan. By virtue of its simplicity, this decision-making tool leaves out most of the in-depth policy details.
Have any questions along the way? Just click the button to book a no-cost, 1-on-1 appointment to get help making these crucial (and time-sensitive) decisions.
Let's get started…
Would you like help comparing plans and prices?
When To Enroll
Do I need to enroll in Medicare? Key questions to help guide your decision:
Are you at least 65? Unless you qualify for disability, you typically don't qualify for Medicare until age 65. There are some exceptions to that rule, so if you have questions about your eligibility, book a chat with me to discuss. We'll help you determine exactly when you need to enroll in Medicare.
Are you covered by employer-sponsored or retiree health insurance? If so, and your employer has at least 20 employees, you may not need to enroll in Medicare.
Do you qualify for VA benefits or TriCare? If so, you may still need to enroll in Medicare Part B because VA and Medicare benefits do not overlap.
Important: If you are eligible for Medicare coverage and are not covered by qualifying insurance, you may want to consider enrolling in Medicare ASAP to avoid late enrollment penalties and higher premium costs.
Now, let’s talk about which Medicare strategy might be right for you...
Would you like help comparing plans and prices?
Why Choose a Medicare Plan?
Which Medicare plan is right for me?
Choosing a Medicare plan means balancing priorities and knowing what's most important to you.
Remember - there are no right or wrong answers to these questions.
Feeling overwhelmed? We're here to help you understand your options and make the right decision. Just click here to book a complimentary 1-on-1 session to get your questions answered.
CHOOSING BETWEEN ORIGINAL MEDICARE (PARTS A + B) AND A MEDICARE ADVANTAGE PLAN (PART C).
Which sounds like you?
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I already have doctors and specialists, and don't want to switch.
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I travel away from home and want coverage that spans the entire United States.
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I value the freedom to visit almost any doctor, hospital, and medical provider that accepts Medicare.
You May Want to Consider Original Medicare Part A (Hospital Insurance) + Part B (Medical Insurance)
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I don't mind going through a primary care physician to see specialists.
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I stay close to home and can find a doctor within my network.
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I value simplicity and don't want to manage multiple insurance plans.
You May Want to Consider a Medicare Advantage Plan (Part C)
Part A covers hospitals, rehab, and hospice care, whereas Part B covers doctor visits, lab tests, screenings, and other outpatient services. While Part A is free for most people, you'll pay monthly premiums for Part B plus deductibles, copays, and coinsurance.
Pros: You have the freedom to visit any provider or hospital in the U.S. that participates in Medicare and you don't need to work with a primary care physician to see specialists. This flexibility is valuable if you travel outside of your home network or have existing relationships with doctors you want to keep.
Cons: Services have deductibles and copays, which may require you to purchase a Medigap or Medicare Supplement Plan to help manage your out-of-pocket spending. You will also likely need to purchase prescription drug coverage (Medicare Part D) separately.
Offered through private insurers, Part C is often structured like an HMO or PPO and provides comprehensive health coverage combining Parts A and B.
Pros: Many Part C plans cover extra services like vision, hearing, and dental and may include prescription drug coverage. Plans have an annual limit on your total out-of-pocket costs.
Cons: In addition to paying a Part B premium, you'll typically pay an extra monthly premium for the Medicare Advantage plan. Networks change, doctors can leave, and benefits can change over time.
Now, let’s talk about any prescription drug coverage you may need…
Important!
Prescription drug rules have changed, including a new cap on out-of-pocket costs. Want help choosing the right drug coverage? Book a No-Cost Medicare Optimization session.
CHOOSING ORIGINAL MEDICARE (PART A + PART B)?
Since it doesn't cover prescription drugs, you may need Medicare Part D.
You’ll want to sign up as soon as you become eligible for Medicare, even if you don’t use prescription drugs, to avoid paying late enrollment penalties.
Pros: Copays and other plan details vary by state and insurer, but they typically cover most of the cost of your prescriptions.
Cons: After exceeding coverage limits, you’ll pay the full cost of your medications until a Medicare threshold is reached.
Let’s see if you need supplemental insurance to help lower your out-of-pocket costs.
Do you have retiree coverage through the military or a private company? Most Medicare participants had some type of supplemental coverage.2 If not, you may want to consider a Medicare Supplement Plan or Medigap.
What is it? Private insurance that fills the coverage gaps in Parts A and B of Medicare and helps with deductibles, copays, coinsurance, etc.
Pros: It limits your out-of-pocket costs for Original Medicare.
Cons: There are many different types of Medigap plans, all with different details.
CHOOSING A MEDICARE ADVANTAGE PLAN (PART C)?
You’ll need to determine whether prescription drug coverage is included. Most Medicare Advantage plans include prescription drug coverage, though not all do. Read your policy documents carefully.
Would you like help comparing plans and prices?
How to Enroll
You don’t need to make crucial Medicare decisions by yourself.
As a taxpayer, you've earned the right to your Medicare benefits. If this guide hasn't given you 100% confidence in your next steps, you don't need to go it alone. All you need to do is call our office.
Right now, you might be asking yourself questions like:
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How do I enroll?
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When is my next enrollment period?
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Which doctors and hospitals will take my plan?
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How much are my premiums, deductibles, and services going to cost?
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How do I balance coverage with price?
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Do I have to medically qualify?
If you are, we'd like to invite you to ask us those questions directly in a 1-on-1 meeting. You’ll walk away with complete clarity about what to do next. We’ll answer your questions, talk about the retirement health care decisions you’ll need to make, and help you choose.
Best of all, we’ll be there afterwards for all follow-up questions and concerns, just click here to set up an appointment.
Would you like help comparing plans and prices?
Would you like help comparing plans and prices?
Book a No-Cost Medicare Optimization Session
ANNUAL ENROLLMENT CLOSES DECEMBER 7TH! Book a No-Cost Medicare Optimization
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Steve Wszelaki
Kaydan Wealth Management
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Sources
- Fidelity, 2025 [URL: https://newsroom.fidelity.com/pressreleases/fidelity-investments--releases-2025-retiree-health-care-cost-estimate--a-timely-reminder-for-all-gen/s/3c62e988-12e2-4dc8-afb4-f44b06c6d52e]
- KFF, 2024 [URL: https://www.kff.org/medicare/issue-brief/a-snapshot-of-sources-of-coverage-among-medicare-beneficiaries/]
Risk Disclosure: Investing involves risk including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss in periods of declining values. Past performance does not guarantee future results.
This material is for information purposes only and is not intended as an offer or solicitation with respect to the purchase or sale of any security. The content is developed from sources believed to be providing accurate information; no warranty, expressed or implied, is made regarding accuracy, adequacy, completeness, legality, reliability, or usefulness of any information. Consult your financial professional before making any investment decision. For illustrative use only.
This information is not intended to be a substitute for specific individualized tax advice. We suggest that you discuss your specific situation with a qualified tax professional.
This information is provided for educational purposes only and is not affiliated with or endorsed by Medicare or any government agency. This is not an intent to provide, sell, or endorse Medicare insurance plans. For information about Medicare plan options, visit medicare.gov or call 1-800-MEDICARE.
Investment advisory services are offered through Kaydan Wealth Management, Inc, a Registered Investment Advisor. The firm only transacts business in states where it is properly registered or is excluded or exempted from registration requirements. Registration as an investment advisor does not constitute an endorsement of the firm by securities regulators, nor does it indicate that the advisor has attained a particular level of skill or ability.