Turning 65? Avoid These Common Medicare Mistakes

Navigating Medicare can be complex, and we are here to help you avoid the common mistakes that can lead to penalties and coverage gaps.

Turning 65 marks the beginning of your Medicare journey, but navigating the options can be confusing. Making a mistake could lead to higher costs or a lack of coverage. To help you get it right, we’ve created a quick checklist of common pitfalls to avoid.

Your 7-Point Medicare Checklist

• Don’t miss your enrollment window. Your 7-month Initial Enrollment Period starts three months before your 65th birthday. Enrolling on time is crucial to avoid late-enrollment penalties that can last a lifetime.
• Be careful with employer coverage. COBRA, retiree plans, and some smaller group health plans are not considered “creditable coverage” by Medicare. If you delay Part B enrollment, you could face penalties. Always confirm with a professional before deciding to wait.
• Review your plan every year. Your Part D and Medicare Advantage plans can change their premiums, benefits, and covered drugs from year to year. Make sure you review your plan during the Annual Enrollment Period (October 15–December 7) to ensure it still meets your needs.
• Check your drug plan carefully. Before enrolling in a Part D plan, verify that your specific prescriptions are on the plan’s formulary (covered drug list). Choosing the wrong plan could leave you paying full price for your medications.
• Don’t assume Medicare covers everything. Original Medicare (Parts A & B) does not have an out-of-pocket maximum and doesn’t cover all costs. For extra protection against copays, deductibles, and coinsurance, consider a Medicare Supplement (Medigap) or a Medicare Advantage plan.
• Understand your options. The terms “Original Medicare,” “Medicare Advantage,” “Part D,” and “Medigap” all refer to different types of coverage. Take the time to learn the differences to choose the path that’s right for you.
• Check for financial assistance. You may be eligible for programs like Extra Help for prescription drug costs or a Medicare Savings Program to help with premiums and other expenses. These programs can significantly reduce your costs, so it’s worth checking the eligibility requirements.

Official Government Portals

Medicare.gov

Compare plans, find providers, estimate drug costs, and explore Medicare Advantage and Part D options.

USA.gov

Medicare Guide  Offers enrollment timelines, eligibility details, and cancellation procedures.

Let Us Help You Get It Right The First Time

Don’t let the complexities of Medicare enrollment keep you from getting the coverage you need. Contact H&H Insurance Solutions today for a no-obligation consultation.

The Medicare process can be confusing, but you don’t have to navigate it alone. As an independent broker, H&H Insurance Solutions works with many different insurance companies. This allows us to offer unbiased answers and guidance, helping you compare your options and choose a plan that fits your health needs and budget.

Contact us today to ensure your Medicare journey starts on the right foot.