When you turn 65, you are eligible for Medicare. Medicare has lots of gaps that can cost you a lot of money. It’s important to have a Medicare Supplement.

There are two types: Medicare Advantage plans and traditional Medicare Supplements. There are 10 traditional plans. These plans allow you to go to any doctor or specialist for the most part. Medicare Advantage plans are much like an HMO. You are in a network. These are less expensive and sometime free. Part A is free and is for hospital benefits. Part B is for doctors, surgeries, lab work, etc. and there is a cost. When you sign up for Part B you have 6-month window to be guaranteed issue by any Medicare Supplement or Medicare Advantage Plan. After that, you may have to undergo underwriting that could prevent you from changing plans.