Should I get health insurance through the Marketplace or Medicare?

John emailed: I have a health plan through the healthcare exchange at a really reasonable rate (under $50 per month). I am 64 yrs old and wondering: is it feasible for me to sign up for Medicare? Should I sign up or can I just keep the plan I have?

What you should know about the health insurance exchanges is that once you qualify to take Medicare, you’re no longer eligible to receive subsidies (premium tax credits) through the Marketplace to help offset the cost of your plan. If your $50/month plan is subsidized, it may become unaffordable once you reach Medicare age (65), says Brandy Bauer of the National Council on Aging. There’s also the risk that if you delay Medicare enrollment and sign up after the initial enrollment period ends, you may have to pay a late enrollment penalty, unless you have a Marketplace plan through an employer (which may provide coverage through a SHOP Marketplace, which is different from the individual Marketplace). Check out more information about how people transition between Marketplace and Medicare plans here.