Let’s get real about Medicare
Medicare myths, explained
The best part about shopping for Medicare plans nowadays is the wealth of resources available at your fingertips – always just a click or call away. On the other hand, too much information from too many sources can be overwhelming and sometimes misleading.
To help navigate through the noise, here’s what you should know about four common Medicare myths.
MYTH #1: You are automatically enrolled in Medicare when you turn 65.
Although you are eligible for Medicare Parts A and B when you turn 65, only beneficiaries who are already receiving Supplemental Security Income will be automatically enrolled. Otherwise, you must enroll in Medicare on your own at www.medicare.gov.
MYTH #2: You can enroll in Medicare anytime.
You can enroll for Medicare if you meet certain qualifications and during specific time frames.
• Initial Enrollment Period (IEP):
The seven-month period that begins three months before you turn 65, including the month of your birthday, and ends three months after turning 65.
• Special Enrollment Period:
Case-by-case eligibility from qualifying life events.
Once enrolled, you can join, drop or switch Medicare plans during the Annual Enrollment Period (AEP) from October 15 to December 7.
MYTH #3: After IEP enrollment, Medicare covers everything.
Medicare is made up of parts with different coverage and costs. Parts can be combined for increased coverage.
Medicare Part A (Hospital Insurance) and Medicare
Part B (Medical Insurance) make up Original Medicare and are provided through the federal government.
Medicare Advantage plans (Medicare Part C) bundle Parts A and B, often with additional benefits. These are offered by private health insurance companies.
MYTH #4: Medicare Advantage plans are all the same.
Medicare Advantage plans will cover all benefits of Original Medicare.
In addition, most offer benefits NOT covered by Medicare.
These typically include comprehensive dental, vision, and hearing services with allowances.