5 Common Medicare Mistakes

1. Choosing a plan over the phone.

This is one of the biggest mistakes you can make when choosing Medicare. While there are plenty of honest agents that only work over the phone, you need to be aware of who you are talking to. Scam artist have increased in recent years and only need your Medicare number to change your plan and they will do it without your permission. Be aware of who you are talking to and do a little research on the company you are dealing with before you give them any information. My suggestion is choose someone local to work with. When you choose a local broker or agent to help select your insurance, you get someone with an in-depth knowledge of what is available to you in your area. For example, at Portland Medicare Broker, we run a cost analysis of all the plans available in Oregon 

2. Picking a Plan because your friends or family like their plan.

Medicare plans have many variables. For example, with Medicare in Oregon there are at least 40 MA plans, Medigap plans and different drug coverages to go along with it. Each person is a corner case and takes time and evaluation to find the right fit. Don’t miss out on great coverage because of peer pressure. 

3. Choosing a plan from a brochure or insurance salesperson.

Find a broker or agent that is contracted with multiple carriers. This way there is no biased pressure to choose a plan through a certain carrier. You can get a quote from all the companies offered to you and choose based on what you want and need in a Medicare Plan. Portland Medicare Broker is appointed with as many carriers as we can so we can provide the coverage that fits your needs, not ours.

4. Missing your chance to enroll.

Do not miss your chance to enroll. Somehow people still do this and it can cost you a lot of money in the long run. There are penalties to signing up late for Medicare and Part D. If you are turning 65 and/or eligible for Medicare in Oregon, schedule an appointment with us as soon as possible. Only an hour of time is how long our appointments usually last and it could save you time and money. If you have questions about enrollment dates or say just moved to Oregon and are wondering about Medicare and moving to Oregon, just give us a call.

5. Thinking you will stay healthy forever.

If you think Original Medicare is enough then consider what would happen if you receive that first $100,000 medical bill. That will equal a $20,000 bill for you out of your pocket and retirement. One thing I really believe in is “have the insurance now for what you will need later”. The cost of a Medigap plan may be higher than a Medicare Advantage plan, but if you see yourself having Medical problems sooner, then later it is worth the higher up front cost. Some people really like knowing what they will pay monthly and not have to worry about paying any other bills. Why worry about Healthcare costs when Medigap and Medicare Advantage Plans are so affordable in today’s healthcare market.