Medicare Plans
Medicare Mistakes To Avoid
Callers from Clinton to Brandon tell us about the same handful of Medicare mistakes. Very few involve the plan itself. Most begin with a deadline that slipped by, an assumption nobody checked, or a plan picked off a postcard.
Here's what to look out for.
- A few of these are permanent
- A single careful review prevents most
- Deadlines trip people up more than plan picks
The big ones
Seven expensive Medicare mistakes
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1. Missing your Part B window
Unless you're covered through a job you still hold, delaying Part B adds a penalty that stays on your premium for life. Run the numbers in our Part B penalty calculator before you hold off. -
2. Going without drug coverage
Even if you take nothing today, the penalty still applies. Once your Initial Enrollment Period ends, any stretch of 63 days or more with no creditable drug coverage brings a lasting surcharge on your premium. -
3. Trusting last year's network
Plans and hospitals renegotiate every year. Check your doctors again each fall, because a doctor who was in last year may be out now. -
4. Picking by premium only
If a $0 premium plan puts your medicines on its top tiers, you can end up paying more over the year than you would on a plan with a modest premium. -
5. Missing the Medigap window
Your six-month Medigap open enrollment window begins with Part B. Once it ends, companies can ask about your health before they approve you. Mississippi has no birthday or anniversary rule that lets you switch later without those questions, so choose your plan letter carefully. -
6. Calling the number on a TV ad
National ads run the same pitch in every state. They can't tell you if the plan includes your doctor in Ridgeland or the Jackson hospital you'd choose.
7. Never taking a second look
Leaving a plan alone for years costs people the most. Plans change on January 1, and a quick review during Open Enrollment each year usually catches what moved.
Also worth knowing
Smaller errors you can fix if caught early
Signing up for a stand-alone Part D plan while on a Medicare Advantage plan that already includes drugs can get you dropped from the Advantage plan. Dropping a Medigap policy on the idea that you can buy it back later often ends with failed health questions. And when a spouse's job coverage never comes up, a Special Enrollment Period you qualified for can go to waste.
An independent agent's job is to catch details like these. Just starting out with Medicare? Begin with the Medicare overview, then go step by step through the Medicare checklist. For free, unbiased counseling from the state, call Mississippi SHIP at 844-822-4622.
Free review
Check where you stand today
Worried one of these already happened? A licensed insurance agent can go over your coverage, dates and prescriptions and explain what's still possible. Leave your number for a weekday callback, or call 601-000-0000.
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A licensed agent will call you during business hours, Mon-Fri, 8:30am-5:30pm CT. If you'd rather not wait, call 601-000-0000 now.
Already made one of these?
Many can be fixed when caught early. Call for a free look at where you stand.