It’s me, David Berry, your friendly neighborhood insurance agent.  I just had a conversation with my mother regarding her Medicare supplement insurance today. I always learn when I have Medicare discussions with my parents.  They point out a lot of misinformation they hear on TV and through their peers.    It’s very important if you’re just turning 65, to make the right decisions regarding your health insurance.  Because the decisions you make at this point can have long-lasting affects on your insurance situation.  

So today, I wanted to sit down with you virtually and clear up some common misconceptions about Medicare and Medicare Supplement Insurance. These are the questions I hear all the time, and I bet you might be wondering about them too.

“I’ll be automatically enrolled in Medicare when I turn 65, right?”

I wish it were that straightforward! If you’re already receiving Social Security benefits, you’ll be automatically enrolled in Medicare Parts A and B. If not, you need to apply during your Initial Enrollment Period. It’s a critical window, so keep an eye on that calendar!  

“Medicare covers everything, so I don’t need any supplemental insurance, do I?”

Original Medicare is comprehensive, but it doesn’t cover everything. There might be gaps like copayments and deductibles that can catch you off guard. That’s where Medicare Supplement Insurance, or Medigap, can be your financial friend, stepping in to help with those extra costs.

“I can enroll in a Medigap policy anytime, can’t I?”

Timing is everything with Medigap. You’ll want to buy a policy during your Medigap Open Enrollment Period, which lasts for 6 months from when you’re 65 and enrolled in Medicare Part B. After that, it might be more challenging or expensive, so don’t miss the boat!

“Medicare Part C is just another term for Medigap, right?”

These terms can be confusing, but they’re not the same. Medicare Part C, also known as Medicare Advantage, offers an alternative to Original Medicare and might include additional benefits. Medigap, in contrast, works with Original Medicare to fill in the financial gaps.

“If I delay my retirement, I don’t need to worry about Medicare, do I?”

Even if you plan to work past 65, Medicare is still essential. Depending on your employer’s health plan, you might delay Part B without a penalty. However, you should consult with an expert to ensure you’re making the right decision.

Wrapping It Up

Navigating Medicare and Medicare Supplement Insurance doesn’t have to be a headache. I’m here to guide you through the maze, so don’t hesitate to reach out if you have questions or need advice.

Take care, stay healthy, and let’s make the most of your healthcare coverage!

Cheers,

David