Clark* has always been the type of person who prefers to do things himself. That is not to say he will not ask for help when he really needs it, especially in an emergency. But when searching for answers to issues or questions he does not quite understand, he revels in his resourcefulness and will turn over every stone on his own before letting someone else step in. These last few weeks have been a bit different, though. Now that Clark is about to turn 65, he has started considering Medicare enrollment. Despite managing his health insurance for decades, he finds himself overwhelmed with choices and unclear what each means. It is almost as if they are speaking a completely different language, and perhaps the more frustrating part is that the deeper he digs for answers, the less clear everything becomes.
Clark is not alone in his Medicare enrollment journey. As of this year, 32.8 million people are enrolled in a Medicare Advantage plan. That accounts for more than half, or 54%, of the eligible Medicare population and $462 billion (or 54%) of total federal Medicare spending (net of offsetting receipts, such as premiums). More often than not, many older adults assume dealing with Medicare will be straightforward. That is, until they face countless options, jargon that is not user-friendly, biased advice, and potential penalties for not registering in time.
As of this year, 32.8 million people are enrolled in a Medicare Advantage plan. That accounts for more than half, or 54%, of the eligible Medicare population and $462 billion (or 54%) of total federal Medicare spending (net of offsetting receipts, such as premiums).
Medicare enrollment is not one-size-fits-all. Whether you are reassessing your current plan or signing up for the first time, you deserve simple, unbiased Medicare tips and tricks that help you maximize your benefits and eliminate confusion.
Looking for Answers to These and More Medicare Enrollment Questions?
- How do I know which plan is right for me?
- What services does Medicare cover?
- What are the differences in Medicare Part A, B, C, and D?
- What is Medigap, and is it right for me?
- Why do I keep seeing Medicare television advertisements offering services like transportation to doctor’s appointments, coverage for hearing aids, and more?
- Can I keep seeing my current doctors?
- How much will Medicare enrollment cost me?
- Do I need a separate plan for prescription drugs?
Understanding Your Medicare Enrollment Choices: 8 Medicare Tips and Tricks
Medicare Tip #1: Consider signing up before you turn 65.
Did you know you can sign up for Medicare as early as three months before you turn 65? Many people find this tip very helpful in giving themselves more time and limiting the stress of missing their initial enrollment window. The Initial Enrollment Period (IEP) is the seven-month period when someone is first eligible for Medicare due to age. It begins three months before they turn 65, includes the month they turn 65, and ends three months after they turn 65. So, if deadlines consistently sneak up on you, write this down on your calendar.
That is not to suggest there are no other enrollment periods if you miss the IEP. But you might face penalties that could stick with you for the rest of your life. Understanding your options and enrolling before turning 65 could make a difference. Plus, coverage would start the first day of the month you turn 65. There is also an exception if your birthday is the first day of the month, in which case your coverage starts the first day of the previous month.
Medicare Tip #2: You could be enrolled in Medicare automatically
Older adults who are currently receiving Social Security benefits due to disability or retirement are automatically signed up for Medicare Part A and Part B upon eligibility. According to the Centers for Medicare & Medicaid Services (CMS), you or your family member will receive a packet of information a few months before they turn 65 or when they get their 25th month of Social Security Disability or Railroad Retirement Board (RRB) benefits.
At that time, they can choose to keep or decline Part B but can’t decline Part A unless they withdraw their original application for Social Security and pay back all Social Security cash benefits.
Medicare Tip #3: Consider delaying Medicare Enrollment Part B
If you still have primary insurance from your current employer or your spouse’s employer, you may want to consider delaying Medicare Enrollment Part B during your Initial Enrollment Period. Why? Part B comes with a monthly premium, so it likely wouldn’t make sense for you to sign up immediately. You can sign up later without penalty if you do it within eight months after your other coverage ends.
If you don’t qualify to delay Medicare Part B, enroll during your IEP to avoid penalties. You may refuse Part B without penalty if you have creditable coverage and do so before your Medicare coverage start date. In this situation fill out the proper forms and provide proof of coverage when you do enroll in Medicare to avoid the late enrollment penalty that will last permanently.
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Medicare Tip #4: Choose a Medicare plan with benefits and coverage you need
When transitioning to Medicare, consider your existing healthcare needs, including any new specialists or services, and choose a plan for how you will receive your health coverage moving forward. Take time to compare plans to see what they cover because certain plans may not cover everything or account for supplemental needs such as vision, dental, and prescription drugs. This could impact how much you will pay out of pocket for things like doctor visits, hospital stays, and prescriptions.
There are two main ways to get your Medicare coverage: Original Medicare and Medicare Advantage. Original Medicare includes Part A (hospital insurance) and Part B (medical insurance) but also allows for Medicare Drug Coverage to be added. With Medicare Advantage, you can join a Medicare-approved plan from a private company that offers an alternative to your health and drug coverage. A more detailed breakdown of each can be found here.
Medicare Tip #5: Review your plan every year
A mistake many older adults make is assuming they can stick with the same Medicare plan year after year. The reality is that your situation will likely change and require your insurance to be flexible enough to cover additional needs. On top of that, coverage plans change. For instance, a key medication that used to be covered last year by your existing plan may not be covered anymore. As a result, you end up taking on unexpected expenses.
You must review your plan and make the necessary changes to avoid these and other surprises. If you do not feel confident during this review process or feel overwhelmed by the options available, you can get help from a Medicare advisor at The Senior Source, the State Health Insurance Assistance Program, or your area’s agency on aging.
The Medicare Initial Enrollment Period (IEP) is the seven-month period when someone is first eligible for Medicare due to age. It begins three months before they turn 65, includes the month they turn 65, and ends three months after they turn 65.
The Senior Source Is a Trusted Medicare Enrollment Resource for Older Adults
Medicare enrollment is a wonderful opportunity to maintain healthcare coverage when you turn 65. That said, choosing the right plan for you and doing so by the appropriate deadlines can feel daunting unless you have unbiased help on your side. This is crucial because Medicare is not one-size-fits-all. Each person’s needs are different, and your choice of programs must best match your specific needs.
The Senior Source can help you understand your Medicare enrollment options and help you choose the plan that is right for you. We give you unbiased and independent information so you can make an informed decision.
We are Medicare enrollment advisors, which means we can assist you with applying for Medicare and Medicaid. Our in-person Medicare seminars cover the basics, including different parts of Medicare and various plan options. Click the button below to check our calendar for upcoming dates.
In the meantime, you are invited to attend a 2024 Medicare Enrollment Open House on October 16, November 21, or December 5 and work with counselors who can assist you in navigating Medicare coverage and provide unbiased information and education. Click the button below for more information on our free open house.
Whether you are a family caregiver, a service provider, or a senior yourself, having reliable resources is invaluable. The Senior Source in Dallas, Texas, is dedicated to supporting older adults and those who care for them. We empower active seniors to live purposeful lives, and we protect vulnerable seniors. Our advocacy ensures that everyone’s rights are upheld as they age, and we strive for financial and emotional well-being for all.
The seniors and families we assist are diverse, and so are our services. At The Senior Source, we prioritize providing high-quality, practical solutions for our clients, constantly focusing on growing our reach and impact within the community. While doing so, we maintain a positive and inclusive work environment for our employees, who are integral in continuously expanding our influence.
Embrace the future of aging with us. Contact us at 214-823-5700 or complete the contact form to learn about our services. We are here to assist you.
*Client names and/or photos may be changed to protect confidentiality.
