CHOOSING A PLAN BECAUSE YOUR FRIEND HAS IT: This is one of the most common and dangerous Medicare mistakes that boomers are making. Just because your friend has an Advantage or Supplemental plan, doesn’t mean that the same plan will be good for you. Every person is unique and every person has a different need when it comes to Medicare coverage. So it’s important that you meet with an agent and review your options, don’t just enroll in a plan because someone you know is on it.
WAITING TO ENROLL: The enrollment window for Medicare is 3 months before and 3 months after your 65th birthday. It’s important that you start planning right away, as you will want to get a full lay of the land before deciding which plan to go with. Your health should be your number one priority and you do not want to be rushed and waiting until the last minute to enroll. Schedule an appointment 3 months prior to your 65th birthday, and take the time you need to make this important decision.
JUDGING A PLAN BY THE PREMIUM: As we have mentioned, a low premium plan does not always translate to the cheapest option. There are many other factors that go into the full cost of a drug plan, such as the types of meds you take, the out-of-pocket costs, plan restrictions and deductibles. You should never choose a plan just because the premium is lower, without meeting with an agent to get a full breakdown of all of the costs.
GOING DIRECT TO A COMPANY: When you choose to enroll directly you are missing out on many added features of working with an agent. For one thing, when you go direct, you are only looking at one option. When you work with an agent at Plan Medicare, he will take the time to explain to you the features and benefits of all of the plans available to you, because he is licensed with dozens of carriers. Of equal importance, when you work with an agent, you have an added level of customer service. Have a question, pick up the phone and speak with a real person. You will avoid endless waiting on the phone and speaking with automated robots.
WINGING IT: Planning for the future is very important. You’ve worked your whole life and now is the time to really start planting your seeds so you can retire comfortably. When you meet with a Plan Medicare agent, ask him about other financial & insurance planning for your future. Plan Medicare offers a full suite of additional insurance plans including: Long-Term Care Insurance, Dental Insurance, Annuities & Life Insurance.
Brian Krantz is the leading independent Medicare agent in the state of New York. As founder of Plan Medicare, Brian has created a company that specializes in all things Medicare for new and existing clients in the tri-state area. Brian is licensed with over 15 insurance carriers and consistently provides his clients with the best options to suit his or her particular needs.