Understanding Insurance Claims

Mistakes People Make With Medicare Insurance

Premiums, deductibles, and coinsurance are some of the costs associated with Medicare insurance. However, there are additional fees when you sign up late. There are different penalties for Medicare Parts A, B, and D. The following are mistakes you should avoid when signing up for Medicare. 

Signing Up Late

Timing is critical when enrolling in Medicare insurance. Therefore, if you're approaching 65, you should enroll for this insurance during the initial enrollment period. This period begins three months before you turn 65 to three months after.

If you fail to sign up during this period, you have another chance to sign up during the annual general enrollment period that starts from the beginning of January to the end of March. When you enroll at this time, your coverage will start in July. Because of your late enrollment, the premiums for Medicare Part B may be higher.

Medicare for Spouses

Another mistake people make with Medicare insurance is assuming that their spouses are covered. Medicare works on an individual basis. Therefore, spouses must make payments at their workplace for a minimum of 10 years to be eligible for Part A.

If your spouse is below 65 years, they should seek coverage elsewhere. However, your spouse may qualify if they have received disability benefits for 24 months or have renal disease or amyotrophic lateral sclerosis.

Missing Out on Medicare Supplement Open Enrollment

There is only one Medicare Supplement Open Enrollment Period. This is the only chance you have for a guaranteed enrollment. During this time, the carrier will not ask you any health-related questions.

The enrollment period commences on the day your Part B is effective and lasts for six months. Therefore, if your Part B starts on May 1st, this guaranteed enrollment period lapses on October 31st. 

If you fail to enroll during this period, you should brace yourself for health questions when applying for the Supplement plan. The answers you provide for these questions determine whether or not your carrier will accept your application.

Failing to Enroll Because You Are in Prison

Although the penal system pays for health care for inmates, you shouldn't skip enrolling in Medicare when you're eligible. If you turn 65 years old while you're in prison, you may be automatically signed up to Medicare. 

You might also not be automatically enrolled in Medicare insurance if you're incarcerated for a long time. Therefore, failing to enroll yourself on time will subject you to late penalties when you're set free.