Enrollment in Medicare Mistakes To Avoid!

It is completely normal to make mistakes while enrolling in a Medicare Program. Often these mistakes go unnoticed considering these are unimportant but this is where we are wrong. 

We all know that choosing the right Medicare plan for you is a confusing job to do. Usually, an open enrollment period starts from the 15th of October and is available until December 7th of every year; this is the time you can make changes to your current Medicare plan or you can even switch plans as per your need.

During the open enrollment period, you might have been bombarded with advertisements and emails stuffing your inbox from insurance companies. You have to be wise while choosing the suitable Medicare plan for you. 

Here are some of the mistakes that we have noted down. It would be best if you could avoid these mistakes in your upcoming Medicare enrollment period.

1. Not signing Up At The Right Time

The national Medicare Healthcare Program is for citizens aged 65 years and above also for youngsters who meet the eligibility criteria. This Healthcare covers the beneficiary’s major medical expenditures. 

When can you enroll for medicare if your turning 65?

The Healthcare enrollment window starts just 3 months before the date you are turning 65 and after 3 months from the day, you have turned 65 years. This is what government calls as Initial enrollment period (IEP).

This is the right time to signup for your Medicare program, if you miss out on this enrollment window then you have to pay a late enrollment penalty. 

If you miss out on enrolling in IEP then you will get another chance in the General Enrollment Period which is from Jan 1st to March 31st of every year. 

Reasons to miss out on Medicare enrollment on time:

• Assuming that Healthcare enrollment is automatic
• You are still working and you think it is unnecessary
• When you are overseas for vacation
• When you are a veteran
• When your spouse has Medicare and you think that you will be enrolled automatically.

So, avoid this mistake and sign up for Healthcare even when you are busy. Do not assume or delay the enrollment. It would be beneficial when you enroll in the Initial enrollment period. 

Timing is everything! Don’t lose the time when it is right. 

2. Choosing The Same Plan As Your Spouse/Friend

Your spouse or friend might have told you that the medicare plan they have opted for was very beneficial and had a good experience from a specific plan but that is not the right plan for you to sign up.

Your body condition is different from your friend’s or spouse’s; choose a Medicare plan that is suitable for you. Meet your healthcare requirements in every way. Don’t just choose a plan because your partner has taken it. 

Renew First And Review Later

You are making a bigger mistake when you tick that Auto-renewal check box while opting out for a Medicare plan. Each year your insurance provider will make changes to the existing Medicare plans which you have to review thoroughly.

Your insurance provider might have included coverages that were not in the previous year and is not necessary for you. These are the details that you have to review while renewing your Medicare plan.

Read the Annual notice of change every year and make sure you are covered for your medical needs. Understand what are the changes made to your Plan in the upcoming year on the cost and coverage.

Avoid paying for healthcare out-of your pockets when the new plan kicks in from January 1st. Go for a plan which is cost-effective and suits your income.

3. Choosing a Plan based on its Premium

As per the Social Security Administration, people receive a maximum benefit at the retirement age of 67 is $3,895 in 2021.

In some plans, the Premium plan cost will be low but the deductibles, drug coverage will be exactly the opposite of other plans. 

So, do not go for a plan just because they have lower premium costs.  Choose a plan that covers your most necessary healthcare need.

4. Assuming Without Verifying

Some people have the convenience of auto-enrolling to Medicare Part A and Medicare Part B plans but not all have the same convenience. 

If you have taken ongoing Social Security benefits that were signed up 4 months prior to you turning 65 years will get auto-enrolled in Medicare Part A or Medicare Part B Plans.

Verify Enrollment in Medicare

Verify all the Medicare plans that are available with your insurance partner, Do not merely assume a plan that is suitable for you. Most of the time people assume that they are automatically enrolled for Medicare benefits just because they have signed up for insurance at their work or their spouse has an ongoing Medicaid Enrollment plan. 

Medicare does not work this way, if you want Enrollment benefits to meet your healthcare expenses, then you have to enroll yourself in a Medicare plan.

5. Not Consulting With Your Healthcare Provider Before-hand

The original Medicaid works the same everywhere in the country but  Healthcare Advantage and Part D work only with local networks. This network tends to change based on the agreement and policies that a physician agrees.

Before opting for a plan, consult with your healthcare provider which are the plans he accepts. If you choose a plan before consulting with your doctor then you might end up changing the plan or the provider.

It is one of the costly mistakes to avoid while choosing a Medicare plan. If you would like to consult a specific provider then verify it in the plan directory.  If you would like to see the doctors you trust and save money then pick the plan that includes your network of doctors. 

Medicare is a complex program that is very difficult to decipher in your speaking terms. So, never hesitate to get expert advice for choosing the best Healthcare plan for you. Contact Us for a detailed explanation of the Healthcare plans best suitable for you.