Happy 65th Birthday!
We will take this opportunity to wish you because chances are high if you search for debunking common misconceptions about Medicare. You are either going to be turning 65 or have already done so. Hence, it is quite natural that you are on a research journey to learn all there is to know about Medicare. Be cautious when researching Medicare. Today we will discuss 14 Common Misconceptions About Medicare.
Medicare is confusing for a lot of people. After all, there are so many layers to the whole ordeal that eventually lead to forming wrongful opinions and spreading misinformation. So faulty assumptions are a given, and we welcome people who discuss with our Medicare experts to clear the air and make an informed decision.
Thus, if you or someone you know is struggling because a friend told them so and so, you have reached the right place as we discuss and debunk. Let’s have a look, shall we?
Misconceptions about Medicare #1: Medicare Advantage Plan enrollment voids you of Original Medicare
People think enrollment in Medicare Advantage voids them of Original Medicare, which is untrue. Medicare Original is Part A and B, whereas Medicare Advantage is Part C. It is just another part of the same concept.
Misconception #2: Medicare Advantage Plan is as same as Medicare Supplement Plan (Medigap)
This concept is commonly spread yet completely untrue. Medicare Advantage is Part C, and Medicare Supplement of Medigap is basically a supplement to the Original Medicare. Therefore, not only are these completely different, you can’t have both simultaneously.
Misconception #3: Medicare Advantage is unnecessarily expensive.
Medicare Advantage is upon your choice to receive. You are responsible for copays and deductibles with Medicare. Hence, a deliberate next step is either Medigap or Medicare Advantage plan, which minimizes these costs rather than adding more.
Misconception #4: Medicare Original Part A is an annual deductible
Not quite! Medicare Original Part A is applicable per benefit period. This means that if you have Original Medicare Part A and B without any additional coverage allowance, you will be paying that deductible as per each of these periods, which may or may not be annual.
Misconceptions about Medicare #5: There is an annual out-of-pocket spending cap on Original Medicare
While many people may have mistaken the fact that there are annual out-of-pocket costs on Original Medicare Part A and B, there are not. You can have your range go from a dollar to tens of thousands of dollars, and Medicare would suffice it.
Misconception #6: Auto-enrollment will get you notified by the government
Social Security benefits can start as early as when you turn 62 years old. However, Medicare auto-enrollment doesn’t happen until you are 65. So you need to stay on top of this if you want to avoid a late enrollment penalty. Because, no! The government will not notify you.
Misconception #7: There aren’t that many providers for Medicare Advantage plans
While the federal government dictates the standards of Medicare Advantage plan provisions, they have a regulated panel for HMO and HMO-POS plan providers. You can easily choose from the panel with over 700 doctors recruited for personalizing your healthcare.
Misconception #8: Medicare is only for healthy seniors
We hope there is a future out there without this utterly ridiculous misconception about Medicare. Because no, Medicare is for anyone and everyone over the age of 65, especially people with chronic and severe conditions. Hence, it is high time we drop the ball on this one.
Misconception #9: All Medicare plans are the same
Medicare plans aren’t the same and can never be because they are indeed made differently and separately to cater to senior citizens’ many different healthcare needs. You may find certain background regulations and bases to be similar, but none of the plans are the same.
Misconception #10: Changes in Medicare plans Can Be Sudden
Every year before the Open Enrollment period begins for Medicare, plan providers make sure to notify the enrollees about the changes that will consequently happen to their contracts. Therefore, you can stop worrying that you will be charged for something unknowingly.
Misconception #11: Medicare Part D has no official drug’s list or costs readily available
Medicare Part D or the Prescription Drug Plan has indeed an official list of medications and drugs that are available with their costs readily available to view. You can ask your plan provider, and it will be known to you about the covered drugs.
Misconception #12: None of the Medicare plans offer dental, vision, or hearing coverage
Wrong! Although indeed, Original Medicare doesn’t offer dental, vision, or hearing coverage, many Medicare Advantage plans offer all dental, vision, and hearing coverage plans that will surely last you long and within your budget.
Misconception #13: Enrollment is Medicare is till the end of time, with no changes allowed at all
Medicare enrollment is not like a mountain rock. With time and policy changes, there is a high chance that you may require to change your policy plans too. Hence, you are very much allowed to change policies, plans, and coverage options as much as you require.
Misconception #14: Medicare is only provided by the federal government
Not true. Like any basic healthcare insurance plan sold to people privately, Medicare can also be availed by people through private insurance companies. Although the Original Medicare Part A and B have to be acquired by the government, other Medicare plans can be availed privately.
Bottom Line
All in all, it is very unfortunate that misconceptions about Medicare are more common than actual expertise out there. Therefore, you must ask your health insurance coverage provider or Medicare expert to always keep you in the loop by providing the necessary knowledge, input, and expertise over such matters.
Looking for a reliable Medicare provider? My United Insurance is where it’s at! Our guiding principle is to serve the senior market at the highest level. We represent top-rated carriers and are always working to bring our clients the very best service that they deserve. Connect with us to start your Medicare journey today!