Common Medicare Enrollment Mistakes (And How to Avoid Them)

Navigating Medicare can feel hard enough as it is with the overwhelming amount of information and deadlines to consider. Unfortunately, even small mistakes during the enrollment process can lead to higher costs or gaps in coverage. To help you make informed decisions, here are five common Medicare enrollment mistakes we have seen across the many seniors we'e helped and how to avoid them.

1. Missing Your Initial Enrollment Period

Your Initial Enrollment Period (IEP) is a seven-month window that starts three months before the month you turn 65, includes your birthday month, and ends three months after. Missing this window can lead to penalties and delays in coverage. To avoid this, mark your calendar early and research your options well ahead of time.

2. Assuming Original Medicare Covers Everything

While Original Medicare (Part A and Part B) provides essential coverage, it doesn’t cover everything. For example, prescription drugs, dental, vision, and hearing services are not included. To fill these gaps, consider enrolling in a Medicare Supplement plan, a Medicare Advantage plan, or a Part D prescription drug plan.

3. Choosing a Plan Based Solely on Premiums

It’s tempting to choose a plan with the lowest monthly premium, but this can backfire if the plan doesn’t meet your healthcare needs. Instead, review the total costs, including deductibles, copayments, and out-of-pocket maximums, to ensure the plan aligns with your budget and medical requirements.

4. Not Reviewing Plans Annually

Healthcare needs and plan options change every year. Many people stick with the same plan out of convenience, but this can result in paying more than necessary or missing out on better benefits. During Medicare’s Annual Enrollment Period (October 15 – December 7), review your current plan and explore new options to ensure it’s still the best fit for you.

5. Failing to Seek Reliable Advice

Medicare is complex, and trying to navigate it alone can lead to costly errors. Working with a licensed insurance agent can save you time and help you find a plan tailored to your needs. They can also answer questions and ensure you’re taking advantage of all the benefits available to you.

Avoiding these common Medicare enrollment mistakes can save you money and ensure you get the coverage you need. If you have questions or want help selecting the right Medicare plan, Pierce Insurance is here to assist. Contact us today at 515-257-6663 or visit the contact us to schedule your free consultation.