Sexton Advisory Group Debunks the Biggest Medicare Myths

Financial Consultant Steve Sexton Shares the Truth Behind Common Medicare Misunderstandings
By: Sexton Advisory Group
SAN DIEGO - Oct. 22, 2020 - PRLog -- SAN DIEGO, Calif.—The majority of older Americans will end up with Medicare coverage, and yet, 70% don't feel confident in their understanding of the program ( After watching money consistently fall through the cracks as a result of Medicare misunderstandings, Steve Sexton, financial consultant and CEO of Sexton Advisory Group ( in San Diego, California, is debunking the top Medicare myths of 2020.

Myth #1: Once enrolled, you cannot change your Medicare coverage.

According to Sexton, this is a giant misconception that causes many people to unnecessarily settle on a Medicare plan that doesn't work for them. In fact, right now, from October 15, 2020 through December 7, 2020, individuals are able to adjust and/or change their Medicare plan as needed.

Myth #2: Medicare is free.

"If you're currently working, you pay a FICA tax that goes toward covering Medicare," explains Sexton. "Additionally, there is a monthly cost for Medicare and depending on which plan you have, there will be varying expenses by way of copays, coinsurance, emergency expenses, and more."

Myth #3: Medicare covers everything.

In truth, Medicare does not cover all health-related expenses. "For starters, most plans do not cover long-term care, should you need it beyond 90 to 100 days," says Sexton. "There is also no dental and extras like hearing aids, dentures, certain prescriptions may not be fully covered by the program." Additionally, Sexton warns that Medicare costs can and will change overtime. He emphasizes the importance of regularly reviewing your coverage to ensure it aligns with your needs and budget.

Myth #4: Original Medicare and Medicare Advantage are the same thing.

Sexton explains there are actually many differences between the two plans, each with its own benefits. For instance, Original Medicare is an 80/20 program with an additional Medigap or "supplement," while Medicare Advantage functions more like the PPO or HMO program one might have previously had through work. "It's so important to speak with an expert and to review your chosen plan carefully," says Sexton. "You want to think about any procedures or treatments you may need in the near future and be sure that it is covered in a way you are comfortable with both from a financial and a quality care perspective."

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