6 Insider Medicare Tips
There’s no denying it—the Medicare application process is confusing and can be overwhelming. But don’t give up! Listed below are six insider tips and tricks that will hopefully make one’s Medicare application process easier and smoother.
Enroll in Medicare 3 Months Before Turning 65.
To ensure they can get Medicare benefits as early as possible, individuals should enroll in the program during their first three months of eligibility. Doing so will ensure the coverage kicks in on the first day of one’s 65th birthday month.
One Should Find out If They Will Be Automatically Enrolled in Medicare.
A person will automatically be enrolled in the original Medicare plan (Parts A & B) if they’ve been receiving Railroad Retirement Board or Social Security benefits. Medicare will send the person their card by mail.
If one is eligible for Medicare because of age or disability, coverage will begin the first day of their 65th birthday month or the month they receive their 25th disability check.
Note: One can still make changes to their coverage, such as getting a prescription drug plan or a Medicare Part C during their IEP.
Consider Delaying Part B Enrollment.
A person may be able to delay paying Part B premiums if they have other creditable coverage. For example, one might be working past age 65 and have employer-sponsored health insurance. If a person decides to postpone enrollment in Part B, they should contact the plan benefits administrator to confirm that they have a source of creditable coverage. Request written proof (especially for prescription drug coverage) to ensure one can qualify for a Special Enrollment Period if needed.
Add Additional Coverage to One’s Original Medicare.
If a person chooses Original Medicare, they can purchase additional coverage. For example, many people choose to add a Medicare Part D plan to help cover prescription drug costs.
Medicare Enrollment Is Best Done Early to Avoid Late Penalties.
One may have to pay a fine if they enroll in Medicare Part B or Part D after their Initial Enrollment Period ends and they don’t qualify for a Special Enrollment Period. The same rule applies if one doesn’t qualify for premium-free Part A.
Review the Coverage Every Year.
A person has the chance to change their Medicare plan every year during the Annual Enrollment Period. During this time, one can join, switch or drop their Part C or Part D coverage. It’s a good idea to review one’s Medicare coverage yearly to ensure it’s still a good fit.
