Be aware of all the possible enrollment periods, whether for Original Medicare, Medicare Advantage, new enrollees, or special circumstances.
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10 Costly mistakes to avoid when enrolling in Medicare
Learning about Medicare in advance can not only help save time and energy, it can actually prevent making mistakes that could affect coverage or costs.
Take a minute to review these top 10 costly Medicare mistakes.
10 costly Medicare mistakes
1. Missing key deadlines
2. Lack of understanding about products
Original Medicare and Medicare Advantage plans are two different products. Read about both to understand the coverage and requirements for each one.
3. Unaware of Medigap
Medigap is different from Medicare. It’s a supplemental plan.
4. Overlooking options for unusual circumstances
Despite the annual enrollment windows, the Medicare process does allow for a wide range of options within those periods, and in certain cases, the ability to change plans outside of the enrollment periods. Be sure to inquire more about your particular situation.
5. Not considering your own doctor and specialists
When considering a new plan, be sure to verify if you can still see your doctor and specialists for that particular plan.
6. Failing to consider all your health needs
All the coverage in the world won’t help if it’s not the right coverage or benefit. Assess your personal health challenges or needs and choose a plan that best fits those needs.
7. Forgetting about prescription drugs
Part D is for prescription drug coverage. If you’re taking a lot of prescription medications, this benefit will be important to consider.
8. Waiting too long
When you’re nearing 65 or considering retirement, it’s time to start research and making decisions. Procrastinating or waiting too long may cause missed deadlines or lack of options.
9. Accessing care outside of network
More costs are incurred when not exploring doctors, networks, and services.
10. Seek more guidance
Medicare, especially for newcomers, can feel complicated. Find further guidance from your primary care doctor or care team or a licensed agent to get your questions answered.
Content contained on this page is for informational purposes only and does not constitute medical advice. Consult your health care provider before beginning any new fitness or dietary plan. References provided are for informational purposes only and do not constitute endorsement of any websites or other sources. Should you have any health-related questions, you should contact your health care provider.
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