Knowing how to avoid the common Medicare insurance plan mistakes ensures that you’ll have far fewer challenges when it comes time to enroll in Medicare and select the plan that best fits your individual needs. 

Oregon Medicare Insurance plans can be complicated so let us help you discover your best options.

  • If you haven’t enrolled in Medicare Health Insurance yet, you’ll be well ahead of the game by keeping these errors in mind. Prevention is the best medicine as they say.
  • If you’re currently enrolled, you can save yourself potentially some money and grief by determining that you’re not committing any of these common mistakes.

Avoid these common Medicare Insurance mistakes:

  1. Assuming that you should enroll in the same Part D plan as your spouse. Consider your prescription needs. They may not be the same as your spouse’s needs. Be sure to determine the coverage for the specific medications you take on a regular basis.  Formularies (or list of covered medications) is different with each plan.
    • Determine your out-of-pocket expenses separately for yourself and your spouse. Ensure that you’re both on the best plan for your individual situations.
  1. Assuming you haven’t worked enough to qualify for Medicare. It’s only necessary to work for 40 quarters, or 10 years, in order to avoid paying the dreaded Part A premiums. Part A covers hospital expenses. Be certain that you don’t qualify instead of making assumptions.
  2. Believing that open enrollment is the only time you can make a change. There are qualifying circumstances that will allow you to change your plan outside of the usual October 15th through December 7th Medicare Annual Enrollment Period.  Do your research to see if any apply to you.
  3. Not realizing that you can sign up for Medicare when you turn 65:
    • If you’re not receiving social security benefits, you’ll have to sign up for Medicare manually. It’s possible to sign up online.
    • If you are receiving social security benefits, you’re generally automatically enrolled in Medicare.
  1. Paying significantly more in Original Medicare part B premiums due to a slight increase in income. Earning more than a certain amount per year can increase your premiums significantly. If you’re close to the limit, it’s worthwhile to make a few adjustments to stay below the cap.
  2. Failing to get expert advice. Given how complicated Medicare can be, one of the worst things you can do is to trust the advice of a friend.
    • Your unique financial and health situations are important factors to consider when making Medicare decisions. Your friend’s advice is influenced by his own situation. If you have questions, find a true expert.
  1. Failing to sign up because you’re still employed. There are some circumstances where it may be beneficial to sign up for Medicare when you reach 65.  Reach out to an agent or your benefits administrator to find out your situation.
  2. Assuming your healthcare providers will be part of your Medicare Advantage plan network.  Some Medicare Advantage plans require that your hospital and healthcare providers be part of the plans provider network. Otherwise, you’ll pay more in co-payments, or be responsible for your payment in full, depending on what kind of Medicare Advantage plan you decide on.

Get Help!

By avoiding these common Oregon Medicare Insurance plan mistakes, you can ensure that you have the most economical coverage for your situation. For financial benefits and your own peace of mind, take the time to examine your current coverage or if you are just getting started learning about Oregon Medicare plans, don’t hesitate to call us now or set an appointment by visiting our contact page here.