Time and time again you may have heard the horror stories from family and friends about their transition into Medicare. Combine this with the overwhelming amount of mail you may have been receiving in your mailbox, it is no surprise that you may be tempted to put off enrolling altogether. We are here to help. Keep reading for 5 tips that will destress your entrée into Medicare.
1. Understand Why You Are Enrolling Into Medicare Into Medicare In the First Place
Turning 65? Under most conditions, you are eligible for Medicare. It is U.S government-provided health insurance. If you are drawing social security benefits by age 65 you will automatically be enrolled in Medicare Parts A & B.
But does this mean that you HAVE to start paying the government for insurance? There are many situations where the answer is yes but there are exceptions.
2. Do Not Overcomplicate It
While there are tons of webinars and websites out there, to make this process as least stressful as possible, do not attempt to attend or read every single one. If you do want to educate yourself (which we always encourage for everyone to understand the basics of Medicare), we always recommend beginning with the Medicare and You Handbook from the U.S government, while a boring read is full of great unbiased information.
We always recommend our clients to read the Medicare and You Handbook from the U.S Government
3. Understand Your Options
Here’s the scenario: You are 67 years old and your Medicare Part A was activated the month you turned 65. You are retiring and will now be signing up for Medicare Part B. Call your insurance agent (2-3 months before your retirement date) and they will help you get all your “ducks in a row) to get started with Part B.
A “good” insurance agent will take their time talking to you about how much your Medicare will cost and what product you might need to pair with or replace your current Medicare. This discussion will always include the Medigap vs. Medicare Advantage option. If there is one key to getting Medicare right for your it is this part. The best option for you will depend on your individual circumstances. When discussing this with your insurance agent, you can refer back to the Medicare and You handbook we mentioned earlier. Page 7 and 8 discuss Medigap vs. Medicare.
4. Choose Your Medicare Guide Carefully
Your medicare agent is interested in getting to know you and your lifestyle to truly understand your needs as a client. We recommend “interview” agents before you choose one. Call them BEFORE you turn 65 and tell them your story. Are they interested in what you are telling them? Or do they just seem interested in a sale?
A good agent will follow up as well. Will they be there when you need a question answered? Find an agent who will provide you with the resources that you need throughout your Medicare years.
5. Use Technology
2020 was a crazy year, to say the least. As one who prefers to see the cup half full, one positive take-away from all of it is the openness of clients to use more technology.
Carriers, in addition to consumers, have been expanding their tech services greatly over the past year. We are thrilled to get involved in this new age as well and in response have created this very e-newsletter to keep our current and prospective clients up to date with the latest updates in Medicare policies and other important information. Be sure to take advantage of this, it is now far easier to get things done within the comfort of your own home than ever before.
You’ve Done It
See, that wasn’t so bad, was it? After following the previous tips you should be able to look over the process of signing up for Medicare made simple.
As long as you know what to look out for, understand the rules and timelines, and find a helpful agent who knows the process you will be good to go in no time!
If you need more assistance, check out the Medicare Made Easy Podcast where Rob Colangelo and Lisa Bocchino go over some common questions many people come across when enrolling into Medicare.
Rob Colangelo is a Medicare professional. He is devoted to understand the needs of his clients and to help understand what they are purchasing and how those choices can affect them long term.