How to Get Medicare Right the First Time

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Medicare can be confusing. Get your Medicare right the first time by avoiding these common mistakes.

1Compare Both Medigap & Medicare Advantage Options – There are two unique options with Medicare and both systems have pros and cons. You should understand how both systems work, so you can make an informed decision.

2Don’t Just Choose the Same Plan Your Spouse or Friend Chose – Choosing your Medicare plan needs to be based on your individual needs such as your prescriptions, doctors, travel and Veterans Benefits.

3Understand In and Out of Network Coverage – It’s important to understand how claims are paid if you see a doctor that is out of network or need care outside of your local area.

4Claim All the Benefits You’re Entitled To – Apply for all local, state, federal and manufacturer programs that may reduce your premiums, eliminate the cost of Part B or reduce prescription and healthcare copays.

5Sign Up for Medicare When Eligible – Remember to talk to a local broker or Social Security 3 months prior to becoming Medicare eligible to determine if you should sign up for Medicare Part A, Part B or both. Missing deadlines can have

How To Get Medicare Right the First Time permanent penalties.

6Contest the High-Income Surcharge After Retiring – If you have been assessed an income related Part B or Part D surcharge and your income changes you may be able to appeal the premium surcharge.

7Do Not

Contribute to an HSA Within 6 Months of

Receiving Part A - You can’t contribute to a health savings account after you sign up for Medicare Part A and can incur a tax penalty for doing so.

8Seek Help - Contact a broker to go over your unique situation. Keep safety in mind. Guard your private information. Do not give out your Social Security or Medicare number over the phone. When meeting an agent meet at a public place or a local office rather than your home.

9Review Your Coverage Yearly – Medicare plans change benefits and coverage yearly. The Annual Enrollment Period is your chance to compare options, so you can make the most out of Medicare. ~ Editor’s Note: This article was submitted by Jolynn Allen with AIS Medicare & More. For more information she may be reached at 719-404-3202 or by email at: info@aismedicareandmore. com. See ads on pages 35 and 43.

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M•M COMMUNITY RESOURCES AND SERVICES