Posted on: 5 December 2015Share
When it comes to Medicare, the application and management process can be confusing. There are so many rules and regulations that it can be difficult to get everything right. If you're not prepared, you can make mistakes that might ultimately cost you important benefits. Here's a look at a few common mistakes that people make so you can avoid the same.
Forgetting to Enroll at 65
This is a common mistake that people make when they reach the age of eligibility. The enrollment window starts a few months before your 65th birthday and ends a few months after. You're not automatically enrolled when you reach eligibility – you have to do it on your own.
Forgetting to Enroll When You Retire
You won't need to sign up at age 65 if you still have a job that provides you with insurance. When you decide to retire or leave the job for any other reason, you'll have to sign up for your Medicare coverage within a specific period. The exact enrollment period can change, so make sure that you look into how long you're permitted before you enroll. Failing to enroll in time may leave you without insurance until the next open enrollment.
Enrolling In the Same Plan as Your Spouse Without Reading It
You should never enroll in a Medicare plan without understanding exactly what coverage you're receiving. This is particularly important when you're signing up for Part D coverage, which is the prescription coverage. You need to know that you're getting coverage for the medications that you're taking. Since you're probably on different medications than your spouse, you should review your coverage carefully before enrolling. You don't get a discount from Medicare for enrolling in the same plans. Medicare supplement plans, on the other hand, sometimes offer family discount plans if you both enroll in the same plan.
Not Updating Your Plan In Response to Life Changes
In most cases, you can only enroll in Medicare within the enrollment period every year or when you turn 65. However, there are some life changes that allow you to make changes to your policy at any time. For example, if you get married, divorced, move or are widowed, you can alter your policy accordingly.
You should take every opportunity available to evaluate and understand your Medicare coverage. Then, you'll be able to select a Medicare supplement policy that will help you get all of the coverage that you need. For more information, visit sites like http://scis.us.