Tips to avoid mistakes when signing up for Medicare
Posted On September 24, 2019 by Editor
Signing up for Medicare is not as easy as one might think. And, it is not free. As is not always being touted in the media for Medicare for All, Medicare costs. Medicare Part B has a $135.50 monthly premium, as of 2019. Medicare Supplements (Medigap) and Medicare Part D (drug plans) also have monthly premiums. In addition, there are penalties if you do not sign up at the right times. There are many times co-payments or coinsurance and/or deductibles.
It is a good idea to do your research ahead of time, before you near your 65th birthday, to determine how you want to handle your Medicare insurance.
AARP has a list of 10 common mistakes new Medicare enrollees make.
- Not signing up for Medicare at the right time
- Not knowing the Medicare sign up dates
- Misunderstanding your job’s insurance, will it be secondary to Medicare or primary
- Ignoring late enrollment penalties
- Not fully weighing your options
- Delaying a Medigap (Medicare Supplement) plan purchase
- Not understanding your out-of-pocket costs
- Picking a plan that doesn’t have your doctors
- Taking a drug plan that doesn’t meet your needs
- Assuming you can’t afford Medicare