This is a question we hear all the time from people who are close to age 65.
Medicare is complicated, and how and when you enroll will depend on your unique situation: whether you will continue working once you are on Medicare, what, if any, group health insurance might be available to you, whether you are going to start taking Social Security at age 65, and the list goes on.
In this video, we’ll discuss the ideal, realistic timeline to get you prepared for Medicare with the least amount of stress and confusion possible.
Confused about your Medicare coverage options? Watch our free video: How to Find the Best Medicare Coverage Without Paying More Than You Need To…
Most Important Advice
Here’s the most important thing: don’t wait until the last minute when it comes to enrolling in Medicare itself. By that, I mean Medicare Parts A and B.
You can apply for Medicare Parts A and B online at https://www.ssa.gov/benefits/medicare. You can also call Social Security or visit your local Social Security office to apply for Medicare.
For many people, applying any of those ways goes fairly smoothly and a Medicare ID number is assigned and a Medicare card arrives in the mail within about 30 days.
However, sometimes the enrollment process does not go smoothly at all. Clients have had significant delays applying for Medicare using all three of those enrollment options.
If you can’t log into the Social Security website, a card with an activation code will be mailed to you if you request one. In about 10 days.
Both the phone centers and local offices in some places have been experiencing long wait times for appointments due to staffing shortages and the pandemic.
Because having a Medicare ID number is the first necessary step before enrolling in any other Medicare coverage, if you wait until the last month before you want your coverage to start and run into any trouble with Social Security Medicare enrollment, there’s a good chance you won’t have everything completed when you’d like.
So, if a month isn’t enough time, when should you start?
The ideal time to start learning about how Medicare works, what your coverage options are, and when you should enroll in what, is three to six months before your Medicare eligibility begins.
This isn’t to say that all your time should be spent learning about Medicare. That could drive you insane.
By starting early, you can avoid potential Social Security office delays and break your Medicare learning into small chunks. We have a simple checklist to follow that can help.
Enrollment Rules
Although all the enrollment rules for Medicare and Medicare plans are publicly available, Medicare doesn’t guide you through all of them or give you specific instructions tailored to your particular situation.
For most people, the most important time for making decisions about Medicare coverage is the 7 month period around your 65th birthday. The three months before your birth month, your birth month, and the three months afterward are your Initial Enrollment Period.
If you want your Medicare coverage to start on the first day of your birth month, you have to apply before your birth month.
That’s the government side of things.
Individual Medicare Plans
Medicare was never intended to cover all of your medical expenses. Because of that, most people also enroll in Medicare coverage beyond Medicare Parts A and B.
By that, I mean Medicare Supplements, Medicare Advantage plans, and Medicare Part D plans.
All of these are offered through private insurance companies. Medicare has rules governing when and how you can enroll in each of these plans too. The rules are not the same for every type of plan.
Medicare Supplement vs Medicare Advantage
With a few exceptions, the two major routes a person can take for individual Medicare plans are either a Medicare Advantage plan or a Medicare Supplement plus a standalone Part D prescription drug plan.
To be able to decide which route is best for you, you have to take a look at what is available where you live and what type of plan fits your medical and financial situation best. This video explains the differences between Medicare Advantage plans and Medicare Supplements in more detail.
Once you’ve decided which type of plan is right for you, you can start comparison shopping all the insurance companies that offer that type of plan in your zip code.
Then, in the future, if you are covered by a Medicare Supplement, you can comparison shop again every time rates change. Or if you are in a Medicare Advantage or Part D plan, you can comparison shop every year during the Annual Enrollment Period.
Internet Caution
You can do all this on your own, but you don’t have to. And really, I don’t recommend that you do.
The great thing about the internet is that anyone can put content here…. The bad thing about the internet is that anyone can put content here….
A lot of our time on the phone is spent debunking incorrect information that people found doing internet research into Medicare plans. Plenty of people who are successful in their fields of specialty have gotten themselves into real tight spots with Medicare by relying on information they found on the internet that was misleading or flat out wrong.
If you see something online that claims to be a way to get around late enrollment penalties or income related monthly adjustment amounts or anything “secret” about Medicare that “they” don’t want you to know, it’s likely not correct.
Any statement online made about Medicare or Medicare plans should be verifiable on medicare.gov or your state health insurance department website. If a Medicare plan broker can’t back up what he or she is telling you with documentation, look for another broker.
Free Help is Available
Honest, reputable brokers are here to help you every step of the way from learning about your options and answering your questions to enrolling in Medicare itself and Medicare plans and changing or renewing those plans in the future.
We do this all at no cost to you. If you enroll through our office into a plan offered by any of the many insurance companies we contract with, we receive a commission for your enrollment. Because the commissions for Medicare plans are about the same regardless of which plan or company you choose, we can be impartial when comparison shopping plans and put your best interest first.
The price is the same for you whether you purchase a Medicare plan by yourself direct from an insurance company or you purchase through our office, so why not take the extra free assistance?
If you have questions about Medicare coverage, please feel free to give our office a call at 877-312-1414 or schedule a free, no obligation Medicare Plan Consultation.
We’re here to help take the confusion out of Medicare and Medicare plan enrollment and find the best plan for your health and hard earned dollars!
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