Knowing your timeline to either enroll or defer Medicare is extremely important. Taking advantage of this time frame when turning 65 is pertinent to ensure you are not paying higher cost for your medical insurance.
Assuming Medicare Covers Everything
There is no limit on out of pocket costs with Original Medicare. Neither Medicare Part A or Medicare Part B offer 100% coverage for hospitalization or medical services.
Selecting A Plan Without All The Facts
Choosing your plan based off of premium amounts could cause you to have higher costs with your services. Each plan comes with a booklet of information and it is important that you are reviewing the Evidence of Coverage and not just their plan highlights.
Not Taking Advantage Of Open Enrollment
Open Enrollment is every calendar year from October 15th through December 7th. During this time, insurance companies can change their premiums, networks, and copay amounts. Be sure to review your plan so you know how these changes can affect you for the following year.
Thinking You Will Be Penalized If You Do Not Act Now
Medicare is not automatic for everyone and signing up just because you are 65 is not always best. There are multiple times of the year when Medicare allows you to enroll without being subject to penalties.
Opting Out Of Drug Coverage Because You Do Not Take Any Drugs
Not electing a Medicare Part D drug plan when initially eligible can make you face a penalty that grows more every year you go without.
Assuming Your Spouse Is Covered Because You Are
Medicare is completely individualized. You must break away from doing everything as a family policy. What policy your spouse goes with does not mean the best for yourself.
Choosing A Plan That Does Not Cover Your Doctors Or Drugs
Every carrier has a different network and formulary. It is crucial that you enroll into a plan that covers all your doctors/facilities, as well as prescription drugs.
Enrolling Into A Plan That Your Friend/Neighbor Says Is The Best
Policies are like not like clothes. One size does not fit all. What works for your friend, might not be best for you.
Making A Decision Without Speaking To A Medicare Expert
Did you know that working with us is at no cost to you? Call today to get the help you have been longing to receive. We are not biased to any carrier over the other. We are shopping specifically for you and work as your advocate along the way.