Financial Advisers Help Wealthy Americans Navigate Medicare

Wealthy Americans are increasingly seeking help on how to navigate the Medicare system from financial advisers. The Wall Street Journal reports: "Some wealth-management firms are developing internal expertise, while others direct clients to outside specialists." The central question involves the retiree's choice between traditional Medicare and Medicare Advantage plans. "In general, private Medicare plans tend to be cheaper and may offer extra benefits, such as dental care, that aren't covered under traditional Medicare, says [Peter B. Wetzel, president and founder of American Medical Claims Inc.]. But for wealthy individuals who put a premium on flexibility and choice, sticking with traditional Medicare and purchasing a Medigap policy and a prescription drug plan is often more attractive" (Knight, 10/13).