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020: How to Make the Most of Your Medicare Benefits

Many healthcare decisions were made for you by your parents as a child and your employer as a working adult. However, once you turn 65, you’re suddenly eligible for Medicare – and there are many options, as well as mistakes you can make. One wrong decision can lead to financial penalties for life, and having insufficient coverage can completely derail your retirement plan. Worse yet, there are countless people out there looking to make a quick buck selling less than ideal plans to older Americans.

That’s why Michael Clarke founded Strategic Growth Insurance Associates. He works to help simplify the Medicare world, break it down to the lowest common denominator, and empower both individuals and business to take advantage of what Medicare has to offer.

Michael wants you to be able to answer two simple questions about your Medicare plan: “What do I pay, and what do I get?” Today, he joins the podcast to talk about this seemingly complex system, navigate the alphabet soup of Medicare plans, and discuss the biggest gaps in our healthcare system.

In this podcast interview, you’ll learn:

  • Why people make really rash decisions when it comes to Social Security and understanding Medicare despite having invested upwards of half a million dollars into it.
  • The reason insurance is a lot simpler than many people think it is – and how to think about it differently.
  • What to look out for as you approach age 65, why many people are now working past age 65, and what you need to know about Medicare enrollment.
  • Reasons you may not want to do anything in the world of Medicare – and what to watch out for.
  • The difference between Medicare Advantage Plans vs. Medicare Supplement Plans.
  • Michael’s four-step approach to helping people find the right healthcare plan.
  • How to conduct a cost evaluation and calculate annual spend using medicare.gov.

If you enjoyed this podcast and are interested in working with SGIA to solve your own tough Medicare questions, please contact us to setup a phone call with one of SGIA.

Transcript

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