I’ve seen a few people make mistakes with Medicare here’s the four mistakes I see most often and how you can avoid them. The first is misunderstanding is:

  1. Misunderstanding Enrollment Periods

You know the system would be so much easier to understand if there was just one enrollment period but there’s not there are several and they all have different purposes. There’s the initial enrollment period which is a seven month period runs three months prior to when you turn 65 and three months after this when you first sign up for Medicare.

General Enrollment Period 

Which is for someone for someone who missed their initial enrollment period. It typically runs from January 1st to March 31st.

Open Enrollment Period 

Which happens every year between October 15th and December 7th this is where you can make changes to a Medicare Advantage Plan or where you can switch to a new Part C or Part B plan but in addition to these there are a few other enrollment periods that only apply in certain circumstances.

2. Choosing the Wrong Medicare

One of the big medicare decision you’ll have to think through this is you should stay with Medicare Parts A and B add a supplement or should you go with a Medicare Advantage plan or decide later on that you don’t like the coverage and you want to go back to traditional Medicare. You’ll be subject to help Thunder riding except in a certain narrow circumstances. This means that if you’ve gotten sick, you may not have the option if switching back.

3. Not Reading Your Annual Notice of Change

If you have a Part D or Medicare Advantage Plan you’re going  to receive an annual notice of change typically in September. This notice tells you how your plan is changing in the year ahead and there’s always something that changes it maybe something simple like the premium changing potentially going up for going down or it could be something really big like your family doctor is no longer in the network or an expensive medication that you take is no longer covered this notice is very important but unfortunately it’s really easy to miss – because they come in September. Blowing mail box in September is pretty famous. So Annual notice can easily mixed up with a bunch of mails and might lose in the process.

4. Not Using Your Resources 

There’s an abundance of free resources that you can find quickly and easily online. One of the best resources will be finding  an awesome insurance agent who really knows their stuff. You need an agent who knows your situation and fit you with a plan that meets your individual needs. Before you do, you need to do some basic research. You can start with the Medicare and you brochure that’s an official publication of Medicare.

If you’re making Medicare decisions, you’ve probably noticed that the program is not exactly straightforward and easy to understand. It’s full of confusing language, plans that seem awfully similar, a lot of different deadlines, and more than a few hidden costs that can take you and your budget by surprise. Here are the mistakes that I see most often and how you can avoid them.

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Resources: ➡️Medicare & You Brochure https://www.medicare.gov/pubs/pdf/100…