Medicare Plans
Medicare Mistakes To Avoid
From Florissant to South County, we hear about the same few Medicare mistakes over and over. Hardly any come from picking the "wrong" plan. Most start with a missed date, a guess that turned out wrong, or a plan chosen from a mailer.
These are the ones to watch for.
- Some of these can't be undone later
- One careful review heads off most of them
- Missed dates cost more than plan choice does
The big ones
Seven mistakes that cost money
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1. Missing your Part B window
If you don't have coverage from a job you still work at, putting off Part B brings a penalty you keep paying for life. Check the cost with our Part B penalty calculator before you decide to wait. -
2. Skipping drug coverage
Taking no prescriptions today doesn't let you off the hook. Go 63 or more days in a row without creditable drug coverage after your Initial Enrollment Period, and you'll pay a premium surcharge from then on. -
3. Assuming your network stayed the same
Plans and hospitals rework their contracts every year. Look up your doctors again each fall. Last year's answer may be out of date. -
4. Shopping on premium alone
A $0 premium plan that puts your drugs on high tiers can cost more over a year than a plan with a small monthly premium. -
5. Letting the Medigap window close
Your six-month Medigap open enrollment window starts with Part B. After it closes, carriers can ask health questions before they approve you. Missouri's yearly anniversary rule only lets you move to the same plan letter, so pick your letter with care. -
6. Buying straight from a TV commercial
A national ad pitches the same plan in every state. It can't tell you whether that plan includes your doctor in Kirkwood or the St. Louis hospital you'd want to use.
7. Never taking a second look
The most expensive habit is never looking at your plan again. Plans change every January 1, and a short review each Open Enrollment is usually enough to catch the changes.
Also worth knowing
Smaller slip-ups you can fix if you catch them early
Some people join a separate Part D plan while they're on a Medicare Advantage plan that already covers drugs. That alone can drop them from the Advantage plan. Others cancel a Medigap policy thinking they can get it back later, then fail the health questions when they reapply. Others never mention a spouse's job coverage, and a Special Enrollment Period they qualified for goes unused.
These are details, and keeping track of details is what a local independent agent does. If you're new to Medicare, read the Medicare overview and work through the Medicare checklist. Missouri SHIP, the state's free Medicare counseling program, also gives unbiased help at 800-390-3330.
Free review
Check where you stand today
If you think one of these already happened to you, a licensed insurance agent can look over your coverage, your dates and your prescriptions, and tell you what you can still do. Leave your number and we'll call you back on a weekday, or call 314-463-5815.
Thanks, we have your request.
A licensed agent will call you during business hours, Mon-Fri, 8:30am-5:30pm CT. If you'd rather not wait, call 314-463-5815 now.
Think you already made one of these?
Plenty of them can be fixed if you catch them early. Call for a free review of where you stand.