Pardon the light pun for introducing a serious complexity in Medicare decision-making.
Connecticut is one of twelve states that require residents with employer-based healthcare benefits in retirement (e.g., state employees) to enroll in Medicare Advantage. Individuals who opt for traditional Medicare, Parts A and B, will lose their retiree health benefits.
This is a serious dilemma. As we’ve reviewed in past issues of The Compass, Medicare Advantage programs may offer lower out-of-pocket costs and additional benefits. However, many of our clients prefer traditional Medicare with supplemental plans to access a broader network of providers.
If you or someone you know is struggling to work through the financial and healthcare implications of this policy, we welcome the opportunity to support this multi-layered enrollment process. With our breadth of experience, we’re able to provide all the options for a plan that aligns with your goals and needs in retirement.
Sources:Fortune.com, KFF.org, Newsweek.com