By Terry Savage on May 07, 2014 | Insurance & Annuities

What is best for me when I turn 65 soon? Should I join a medicare advantage plan or regular medicare. I have very limited funds

Terry Says:  Gosh, that’s a tough question.  With limited funds I would have always suggested Medicare Advantage because you have only one payment — and they cover everything so you don’t need a supplement or Part D prescription drugs.  But lately the Federal government (to help pay for Obamacare) has been cutting back reimbursements to Medicare Advantage plans, which in turn have had to cut the number and range of doctors and hospitals, and specialists that are part of their plan.

My suggestion to you is to search on for Advantage plans in your area and see if your doctors are part of it.  Or ask your physician what Advantage plans he/she is affiliated with.  That might help you make your decision.  One other excellent resource is — where you can talk to them by phone and see if they might have some lower cost supplement plans, or can help you find the best Advantage plan.

Also if you google “find Medicare Advantage plans” you’ll find many sites which will offer policies from different plans.  This will take a lot of research on your part, and you’ll have to hope that these plans keep getting enough government support to be attractive in the future.  Remember, if you could afford traditional Medicare, you need a supplement and Part D, which brings the total cost up– but that is also worth researching.



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