Silver and Secure

The $0 Premium Plan That Isn't Always Free

Medicare Advantage plans with $0 premiums are real -- but "free" requires some context.

You still pay your Part B premium ($202.90/month in 2026) regardless of which Medicare plan you're on.

Beyond that, $0 premium Advantage plans typically have cost-sharing when you actually use care -- copays for doctor visits, specialist visits, urgent care, and hospitalizations. Most have an annual out-of-pocket maximum, which can range from a few thousand dollars to $8,000 or more depending on the plan.

That out-of-pocket maximum is your real worst-case exposure in a bad health year. Knowing that number -- and whether you could absorb it -- is a more useful question than "what's the monthly premium?"

Plan selection should start with your doctors, your prescriptions, and your realistic healthcare use. Premium is one factor, not the whole picture.

Questions about comparing your options? That's what we do.
Beyond that, $0 premium Advantage plans typically have cost-sharing when you actually use care -- copays for doctor visits, specialist visits, urgent care, and hospitalizations. Most have an annual out-of-pocket maximum, which can range from a few thousand dollars to $8,000 or more, depending on the plan.

Social Security and the "62 Trap"

Claiming Social Security at 62 feels like found money. You've been paying into it for decades -- why wait?

Here's the math that changes the picture:

Claiming at 62 vs. 67 (full retirement age for those born in 1960 or later) means a permanent 30% reduction in your monthly benefit. Not temporary -- permanent. For the rest of your life, and potentially your surviving spouse's life.
If your FRA benefit would be $2,500/month, claiming at 62 means roughly $1,750/month instead. Over a 20-year retirement, that difference adds up to hundreds of thousands of dollars.

The calculus changes if you have serious health concerns or genuinely need the income now. But for people who are reasonably healthy and have other resources to bridge the gap, claiming early is often the costliest "free" decision they make.

This is worth a real conversation before you file. We cover Social Security timing as part of our retirement income planning work.

Silver and Secure 830-406-6654 | [email protected]

When Should You Start Social Security? The Answer Might Surprise You.

This is one of the most consequential financial decisions a person makes -- and most people get it wrong simply because they don't have all the information.
Here are the basics:

- You can start as early as age 62, but your benefit is permanently reduced -- up to 30% less than your full retirement age (FRA) benefit.
- FRA is 67 for anyone born in 1960 or later.
- Every year you delay past FRA, your benefit grows by 8% -- guaranteed -- up to age 70.

What that means in real numbers: if your FRA benefit is $2,000/month, waiting until 70 could mean $2,480/month instead -- for life. And if you're married, the higher earner's benefit becomes the survivor benefit. Delaying can protect a surviving spouse for decades.

The break-even point for delaying to 70 vs. claiming at 67 is typically around age 80 to 82. If longevity runs in your family, the math often favors waiting.

Health, other income sources, and your overall retirement plan all factor in. That's exactly the kind of conversation we have.

Silver & Secure 830-406-6654 | [email protected]

Life Change? Your Health Insurance Probably Needs a Second Look

Several life events trigger a Special Enrollment Period that lets you change coverage outside of open enrollment:

✅ Getting married or divorced
✅ Having or adopting a child
✅ Losing other coverage (job loss, aging off a parent's plan)
✅ Moving to a new coverage area
✅ Income changes that affect your subsidy eligibility

You typically have 60 days from the qualifying event. Miss it and you're waiting until the next Open Enrollment.

Call or text us at 830.406.6654 and let's make sure your coverage reflects your current life.