What happens to employer benefits if you get a Medicare Advantage

 

If you have employer retirement insurance and you decide to get a Medicare Advantage plan, there are a few things that will happen to your employer benefits.

Your employer will no longer be responsible for paying for your health insurance. This is because Medicare Advantage plans are considered to be primary insurance, and your employer-sponsored retiree insurance will be secondary.

You may have to pay more for your Medicare Advantage plan. This is because Medicare Advantage plans are not regulated by the government in the same way as Original Medicare, and they can charge higher premiums and out-of-pocket costs.

You may have to change your doctors and hospitals. Medicare Advantage plans often have different networks of providers than Original Medicare, so you may have to find new doctors and hospitals that are in your plan's network.

It is important to weigh the pros and cons of getting a Medicare Advantage plan before you make a decision. If you are happy with your employer-sponsored retiree insurance and you do not want to have to change your doctors or hospitals, then you may want to stay with that plan. However, if you are looking for a lower premium or more comprehensive coverage, then a Medicare Advantage plan may be a good option for you.

Here are some additional things to consider when making your decision:

Your health needs. If you have complex health needs, you may want to stay with your employer-sponsored retiree insurance because it may have more comprehensive coverage.

Your budget. Medicare Advantage plans can have lower premiums than Original Medicare, but they may also have higher out-of-pocket costs. You need to compare the total cost of each plan to see which one is more affordable for you.

Your preferences. Some people prefer the flexibility of Original Medicare, while others prefer the convenience of a Medicare Advantage plan. Ultimately, the decision of whether to get a Medicare Advantage plan is a personal one.

If you are still unsure about what to do, contact your employer's benefits administrator or Lons Insurance to speak to a licensed agent.