Anybody who is above the age of 60 knows just
how important Medicare is. Even with it is significance, the rules and
requirements can be very confusing which is not ideal for senior citizens.
Small mistakes could lead to costly premiums and you may end up paying
out-of-pocket for some services. There could also be a gap in coverage if you don’t
sign up for Medicare in time. Here are some of the mistakes you should avoid
making when you’re on a Medicare Cover.
Having Your Part D On Auto Pilot
The enrollment for Medicare Advantage and Part
D usually runs from October 15 to December 7. This could be seen as the best
time to review the options as far as Medicare is concerned. There are plans
that could boost your premium while others might work to your disadvantage. A
different plan could be ideal if you’ve been prescribed new medication or treatment
that is challenging to get with your current plan. The open enrollment gives
you the opportunity to compare the options available in your area. You can go
to the Medicare website to find out which dosages that you require for your
treatment. You may require Mutual of Omaha Medicare
Supplement Plan G which is not
available in your current plan.
Getting the Same Part D as Your Spouse
It should be noted that there are no special spousal
discounts if you both take Part D. And you’re not likely to take the same
medication as your spouse. One plan could provide better coverage for your
medication while another could do the same for your spouse. That is why it is
not recommended to take the same Part D plan when you’re thinking about
Medicare.
Not Switching Mid-Year If Necessary
Even though there are specific dates for open
enrollment, you may still be able to change plans during the calendar year.
There could be certain life changes that necessitate switching to a new plan.
You may have moved to a new address and the cover doesn’t apply to your new
area. You can check out special enrollment periods so that you have the right
information before making the decision of switching plans.
Picking the Wrong Medigap Plan
You can get any plan if you have a
pre-existing condition and buy a Medicare plan supplement within six months of
enrolling in Part B. Providers will in most cases restrict changing plans after
the mentioned period because of your health condition. There are several ways
preexisting conditions could affect the Medigap insurance cover. There are some
states that will let you change to plans regardless of the medical condition.
You should check out the rules and regulations in your state so that you don’t
make the wrong decision.
Not Signing Up for Medicare At 65
You’re still eligible to sign up for Medicare
when you retire. You’re already enrolled in Part A and Part B if you receive
social security benefits. You will need to take it upon yourself to sign up for
Medicare if you’re not receiving any benefits from Social Security. It will be
a good idea to delay signing up for Part B if your spouse still has coverage
from the employer.
Going Out Of Network for Your Coverage Plan
If you choose to take the Medicare Advantage
plan, you will be covered for medical expenses and prescription drugs. This
will mean that you’re required to use the plan’s doctors in order to get the
lowest copayment. You can take a look at the doctors and hospitals that are
covered in the plan before making the big decision.
Not Signing Up for Part B
This particularly important if you’re a
retiree because Medicare will be your primary health insurance when you turn
65. You could be subject to gaps in coverage if you don’t sign up for Part B in
time. There is also a lifetime late-enrollment penalty at 10% which is
something to worry about. There is a high chance you will have to wait a full
year to get coverage if you miss the open enrollment window in that year.
You may forget about enrolling for Part B
after you have left your job. You will not have any coverage from your employer
and an alternative will be necessary. You will have to sign up within eight
months of leaving your job or you will have to wait for one year in order to
enroll for part B.