Why is Medicare such a complicated mess?

  • The original benefit design is based on a prehistoric medical plan first marketed back in the 1930s.
  • Today's Medicare is the result of a series of legislative and regulatory compromises.

Knowing these facts may be interesting and certainly may impress other cocktail party guests, but that knowledge does not help us navigate these poorly charted waters. Whatever the reasons, we are stuck with the results. That is the reality of our situation today.

Therefore, an adviser like me has a choice to make.

Is it worthwhile to explain every little detail and expect readers to completely understand all of the insurance minutia involved with Medicare? Or are clients better served by being presented with the “Big Picture” so that informed decisions can be made with confidence.

My choice is to generally apply the latter of these principles when offering Medicare advice.

Lest you think I arrived at this approach in a vacuum, wait until our next visit together. I will describe what I hear from other Medicare advisers when I tune in their podcasts or read their printed materials.

I just may be too easily amused by this stuff!