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If you're close to Medicare eligibility, now is the time to study up on great moves that can help you in the
long run.
Sign up when eligible. Even if you decide to defer Social Security until full retirement age, signing up for Medicare Part A is smart. In most cases, Part A is free, so take advantage of the benefit.
Don't miss your deadline. If employed past your initial eligibility, there is no penalty for waiting; however, once you are no longer employed, your window to sign up without a potential penalty can close quickly if you're not careful.
Choose your way of paying what's not covered wisely. Make sure you talk to your insurance professional about whether a Part C Medicare Advantage Plan or a Medicare Supplement is right for you. Medicare Parts A and B do not cover all expenses, and uncovered medical expenses are a growing cause of financial stress for seniors.
Know your drug coverage. If you opt for an additional policy that doesn't include prescription drugs, make sure you purchase a Part D plan to avoid a penalty in the future. Don't always assume the plan chosen at the outset is the right plan forever. Every year at open enrollment, review your prescriptions with your Medicare insurance professional to help keep your monthly cost for your Part D drug plan and your out-of-pocket expenses in check.
Medicare insurance professionals recertify every year in order to best assist you with your questions and policies. Rely on the expertise of your agent today to ensure an easy transition into Medicare tomorrow.
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