With a well-picked medical insurance policy, your out-of-pocket medical expenses should be at a minimum. However, a lot of insurance enrollees overlook important policy options and guidelines that end up costing them more money. If you struggle to make ends meet because your medical costs are too high despite insurance, it may be time for a bit of guidance. Here on our blog, we cover the bases to help people just like you get the most from their medical insurance policy. We discuss things like finding the most affordable in-network providers, keeping co-pay costs as low as possible, and how to save on prescriptions.
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Medical Insurance Tips to Get the Most from Your Policy
About To Turn 65? How To Avoid Problems With Your Medicare Application
June Robertson
If you're getting ready to retire, now's the time to prepare for your Medicare application. In most cases, you can start getting Medicare coverage once you reach your 65th birthday. But, there are some exceptions to that. If you're receiving social security benefits due to a disability, you can apply for Medicare earlier than your 65th birthday. If you're ready to apply for Medicare, you do need to avoid mistakes. Some mistakes can cause problems for you later. Here are some tips to help you avoid problems with your Medicare.
Understand the Enrollment Window
If you want to apply for Medicare, you need to file your application at the right time. If you're like most people, you don't know there's a window of opportunity for filing your Medicare application. Your enrollment window opens three months before your 65th birthday. That enrollment window then closes three months after your 65th birthday. That means you have a seven-month window of opportunity to apply for Medicare. Or, without having a lapse in your coverage.
Know the Rules About Employment
If you're still working full-time by your 65th birthday, you might not think you need to apply for Medicare. This is especially true if you still have employer-provided healthcare coverage. But, you need to apply for Medicare regardless of your work status. Most employer-provided health insurance turns to secondary coverage as soon as you turn 65.
That means you could end up paying out-of-pocket for your medical care. That's because healthcare providers will bill your employer-based insurance after they bill Medicare for services rendered. To avoid that, apply for Medicare coverage as soon as your window of opportunity opens.
Research Your Medicare Options
If you're getting ready to apply for Medicare, now's the time to research the options. Medicare provides four coverage options. Those options include parts A, B, C, and D. Part A is your basic hospital coverage. Part B provides your medical coverage. Part D covers your prescription medications.
Part C is your Medicare Advantage program. This program is offered through private insurance coverage. Part A is offered free of charge. But, the other options will include out-of-pocket expenses. If you're not sure what parts you should apply for, talk to a Medicare agent. They can help you choose the options that are right for you.
Don't take chances with your Medicare enrollment. Use the tips provided here to apply for your coverage.
Contact a Medicare insurance agent to learn more.
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