Medicare is complicated and confusing to many people—but it doesn’t have to be. Here are seven insider tips that might help one get through the process of enrolling in Medicare with less stress.
Sign up For Medicare 3 Months Before One Turns 65
If one signs up for Medicare during the first three months of the enrollment period, coverage will start on day one of their 65th birthday month. If one signs up later in the enrollment period, their coverage could be delayed.
Check to See if One Will Be Automatically Enrolled in Medicare
If a person gets Social Security or Railroad Retirement Board benefits, they will be automatically enrolled in Original Medicare (Parts A & B). Their Medicare card will arrive in the mail.
Consider Enrolling in Medicare Part B Later
If a person has creditable coverage from another source, such as employer-sponsored health insurance or coverage from a spouse’s employer, they may be able to postpone Part B – and delay paying the premium.
Before postponing one’s enrollment, one should check with the plan benefits administrator to confirm that they have creditable coverage and get written proof so that they can qualify for a Special Enrollment Period.
Consider One’s Own Health Needs when Choosing a Medicare Plan
Once a person enrolls in Medicare Part A and Part B, they’ll need to decide if they also want to sign up for a Medicare supplement or Medigap plan. These plans cover what Parts A and B do not, such as prescription drugs and dental care.
Before choosing a type of Medicare coverage, a person should identify what they want and need covered by their plan.
Purchase Additional Coverage to Supplement Original Medicare
Along with Original Medicare, one may choose to add a Medicare Part D plan offered by private insurance companies.
Avoid Late Enrollment Penalties by Signing up On Time
If a person doesn’t enroll in Medicare Part B and Part D when they’re first eligible, the government may add penalties to their premium payments. If one doesn’t qualify for premium-free Part A, the late penalties for missing the IEP can be steep.
Review the Coverage Every Year
During the Annual Enrollment Period (AEP), a person can change their Medicare plan or add new coverage. It’s a good idea to review one’s coverage yearly to ensure it still meets one’s needs.
