Medicare enrollment may seem daunting at first, but in reality, it’s very easy. But there are a few things to know. With these three tips, you can save a considerable amount of money – potentially thousands of dollars.
Tip 1: Don’t Wait
It’s important to stay on top of your eligibility by understanding the Initial Enrollment Period and when it occurs. Waiting past this enrollment period to enroll can result in late enrollment penalties that will be added to your monthly Medicare premiums, and these penalties can be permanent.
The Initial Enrollment Period is seven months long, giving many seniors plenty of time to enroll in Medicare. This period is also based around your 65th birthday. It will start three months before your birthday month, and end three months after your birthday month.
Tip 2: Consider Your Current and Future Needs
It’s easy to delay Medicare because you may feel as though you do not need it. And you may even forgo enrolling in Part B or Part D because of your current health status. But the future is unpredictable, and by enrolling in the optional coverage, you are prepared for anything life throws at you.
With Medicare, you also have a great selection of plans that can meet many healthcare needs, which can be very beneficial to you now and in the future, especially for an emergency.
Tip 3: Look For Ways To Make Your Out-of-Pocket Costs Lower
As dedicated professionals, we also specialize in helping you with this process.
For instance, if you have a lower income, we can see if you qualify for state-issued patient assistance programs such as NJ Save or a Medicare Savings Program to help you save on your medications, premiums, and other Medicare-related costs.
We can also help you find plans that can potentially leave you with $0 left to pay out-of-pocket. If you join early enough, you can get a Medicare Supplement plan, where you will be able to get your out-of-pocket costs taken care of for a small monthly premium payment.
Seize Your Enrollment Opportunity Today!
At Jersey Medicare Solutions, we are proud to offer you our extensive knowledge of the evolving world of Medicare. We ensure that you will get the best Medicare policy you can buy, and if you have any questions, we’ll be happy to answer them.
Thomas M. Brzezinski is one of the founding partners of WMAG William & Michael Advisor Group LLC and Jersey Insurance Solutions. He has been involved in the insurance industry for over ten years and specializes in developing client relationships that last a lifetime.
