None of us are racing to the age of 65, but we are racing to the undeniably good benefits of Medicare. The outrageous premiums are soon behind you. You’ve been paying your Medicare taxes for 40 quarters (10 years). Social Security has sent their initial letter automatically enrolling you into Part A but the letter states something about Part B. And you need to make a decision if you will leave your employer coverage, obtain Parts A and B, and whether you will get a supplement. So the confusion and hours of research begin…
Common and avoidable mistakes made when aging into Medicare are (1) assuming that you will automatically be enrolled or (2) missing the Initial Election Period (called IEP, spanning a 7 month period).
Working with a professional Medicare Agent saves you the confusion and hours of searching, and doesn’t add any extra expense. You need the education to make informed decisions. That’s where an agent, spending their career maintaining an expertise on the industry, can make it make sense, and specific to your needs. Many agents are captive to their contracted carrier. Brokers are agents too, but they are not loyal to one company, which allows them to focus on what’s right for you.
A Medicare Agent/Broker will be experienced and licensed to educate and directly assist you through the process—
- • Obtain necessary parts of Original Medicare
- • Make sure you enroll on time, avoiding penalties
- • Deciding if a Medigap or Medicare Advantage Plan is the best choice for your confidential medical needs
Once enrolled, your agent will service policy needs, claims, and follow up yearly to review and accommodate your changing needs in the future.
A local independent Broker will have knowledge of the insurance carriers, their local networks, special needs plans, and A rated supplements. They see that big picture by keeping certified with 4 carriers on average, and should speak to where each carrier’s strengths are as they operate locally… down to looking up your favorite doctors’ networks. Enrolling in Medicare and selecting a plan will have a major impact on your future care. It is important to get advice from an agent that understands how medicare works, a broker to offer all the options, and one that cares about you.
Join me next time as we discuss aging gracefully. Stay safe and be well.
About the Blogger:
This year at Bayside Medicare, we are busy rethinking the safety of this very personal process in pandemic times. Educating at a distance is hard. Our local, personal approach feels a little cold without our usual ways of meeting. As a result, we have developed some new ways to help cope:
- • We set up virtual meetings to help facilitate education and routine policy issues, no stress
- • Offer regular social media education — we have added a position in our business to aggressively maintain and publish our blogging, videos, and Facebook presence in a way you can expect new information regularly
- • Continue to maintain 10 carrier appointments, so you can have access to the options and carriers that are offering the strongest benefits.
Reach out to us and let us know what else you want to see answered about Medicare! We’re a knowledgeable community, especially in these times, and an assistive service to use in eventual enrollment.