We recently had a comment on our Facebook page from Pat, who said,
“I signed up for Medicare in November, as my Medicare didn’t start till February. The company I went through said we were all set, but I found out last week we don’t have Medicare Part D. When I called to tell them, they told me to call the Medicare office. A lot of help they were.”
It’s comments like this that remind me why I am so passionate about helping people with their Medicare decisions.
Pat trusted the insurance company he was using to help him with his Medicare choices and do the right thing for him, but unfortunately, they didn’t.
We see this all too frequently.
When it comes to using an agent or broker representing an insurance company, it can be risky. They don’t always have your best interest in mind.
During my free online workshop, I talk about how they can be biased in the plans and programs they show you, and that is true. They get paid commissions, so they tend to only show you the plans that pay the highest commissions.
You have to enroll in many parts of Medicare, but you enroll in them differently.
Your two main parts of Medicare are:
- Medicare Part A (Hospital Insurance)
- Medicare Part B (Doctors Insurance)
You enroll in Medicare Part A and Medicare Part B directly through Medicare or the Social Security Administration.
Agents or brokers can enroll you in:
- Medicare Advantage plans
- Medicare supplement plans (Medigap)
- Part D drug plans
Advantage and supplement plans pay brokers and agents higher commissions. Commissions can range from $30 to $600.