3 Quick Tips to Avoid Medicare Mistakes

 

• Missing initial enrollment: Your Initial Enrollment Period (IEP) is the 7-month period that begins 3 months before your 65th birthday and ends 3 months after. If you enroll in Medicare Part B during your IEP, you will not have to pay a late enrollment penalty. If you miss your IEP, you may have to pay a late enrollment penalty for Part B, which is 10% more for each year you delay enrolling.
• Enrolling in Social Security too early: You can start receiving Social Security retirement benefits as early as age 62, but if you do, your benefits will be reduced. For every year you delay claiming Social Security retirement benefits up to age 70, your benefits will increase by 8%.
• Assuming your spouse's coverage is right for you: If you and your spouse are both eligible for Medicare, you can choose to be covered under your spouse's plan or enroll in your own plan. It is important to compare the two plans to make sure that you are choosing the one that is best for you. You should consider factors such as the plan's coverage, costs, and network providers. Have questions about your current plan and this upcoming Annual Enrollment period click on this the permission to contact link and a licensed agent will be in contact.