Medicare Advantage Mistakes That Could Cost You (and How to Avoid Them)
When it comes to healthcare in retirement, most people are shocked by how much it can actually cost.
Many folks assume that once they hit 65, Medicare will cover everything.
But the reality? It's much more complicated—and choosing the wrong Medicare Advantage plan could leave you with higher out-of-pocket expenses, limited doctor access, or serious coverage gaps.
Today, let's break down the basics of Medicare Advantage and highlight the most common mistakes people make.
More importantly, let's talk about how to avoid them—because your retirement should be a time of freedom, not financial surprises.
First, a Reminder: I'm Not Selling Medicare
I’m Ron Siegel, a Certified Liability Advisor (CLA).
I'm not here to sell you a Medicare policy or push any insurance products.
What I do is help families coordinate smart financial decisions—like healthcare, debt, and estate planning—into one cohesive retirement strategy.
And when needed, I can introduce you to trusted Medicare professionals who specialize in these plans.
Our goal together? Helping you make better choices without pressure.
Medicare Advantage 101: What You Need to Know
Medicare Advantage plans, also called Part C, are offered by private insurance companies that contract with Medicare.
These plans typically bundle:
- Medicare Part A (Hospital Insurance)
- Medicare Part B (Medical Insurance)
- Often Medicare Part D (Prescription Drugs)
Some even throw in dental, vision, hearing, or wellness perks.
Sounds attractive, right?
Here's the catch:
Every Medicare Advantage plan operates under its own set of rules.
And these rules change frequently.
Depending on the plan, you might face:
- Higher out-of-pocket costs
- Restrictions on doctor and hospital networks
- Prior authorizations to see specialists
- Limited prescription drug coverage
Choosing the wrong plan can have long-term impacts on both your health and your wallet.
3 Common Medicare Advantage Mistakes to Avoid
Mistake #1: Chasing "Extras" Without Reading the Fine Print
Dental and vision perks sound great—but if the core medical coverage is weak or the network is too narrow, those "extras" won’t matter.
Tip: Focus on the medical coverage first.
Mistake #2: Assuming Your Doctors Will Always Be Covered
Each Medicare Advantage plan has its own network.
Many retirees are shocked to find out that their long-time family doctor is suddenly "out-of-network" after switching plans.
Tip: Always verify whether your doctors and hospitals are in-network before enrolling.
Mistake #3: Ignoring Annual Plan Changes
Medicare Advantage plans can—and often do—change their terms each year.
That means new co-pays, higher deductibles, or dropped drug coverage can sneak up on you if you don't review your options annually.
Tip: Treat Medicare Advantage like an annual review, not a one-time decision.
Healthcare Costs Are a Liability—Plan for Them Wisely
Most people think about retirement in terms of assets: 401(k)s, pensions, real estate.
But few think about liabilities—and healthcare costs are often the biggest hidden liability.
Choosing the wrong Medicare plan could mean draining savings you thought were safe.
That's why we treat healthcare planning as a critical part of our Liability Review process.
How a Liability Review Can Protect You
Our Liability Review offers a no-pressure, holistic look at your full financial situation, including:
- Your healthcare needs
- Your anticipated retirement expenses
- Your debt structure
- Your estate and legacy goals
And when appropriate, I can connect you to trusted Medicare professionals who specialize in making Medicare decisions easier—not harder.
There’s no sales pitch. Just clarity.
Ready to Get Started?
If you’re approaching Medicare enrollment—or even if you’re already enrolled and unsure if your current plan still fits—you owe it to yourself to review your options.
Start by completing a simple, no-pressure Liability Check.
It even includes a soft credit pull that won’t impact your score.
Visit RSRlinks.com/Sora to get started today.
Because when it comes to your retirement, you deserve more than hope—you deserve a real strategy.
About Ron Siegel
Ron Siegel is a Certified Liability Advisor (CLA) focused on helping families build wealth through better debt and liability management strategies. Ron works alongside clients to create smart, coordinated plans to protect assets, reduce risks, and create a stronger, more secure retirement future.