A few weeks ago I was helping my client Paul figure out his right Medicare decision.
Paul is retiring in a few months and is looking forward to his new adventure spending time on his golf game and traveling with his wife.
Paul shared with me:
I had looked forward to this day. For nearly 45 years, money has been taken out of my paycheck to pay for my health care when I turned 65. I thought it was worth it because I thought Medicare a “Magic Ticket.”
I thought that once you turned 65, the government would take care of your health care, so I didn’t have to worry about the costs.
It was a rude awakening when I started the Medicare process and realized that was not the case.
I also went to an insurance agent that I had known for years. When I was nearly done with my decisions, I realized that this agent had given me bad advice and as a result, I had costly mistakes.
Medicare is complicated with all the rules, and the way agents are paid for their recommendations and sign-ups make it nearly impossible to make the right decision.
I hear this similar opinion from a lot of people.
When I was helping my dad with Medicare, I was also surprised at all the options we had to pick from.
With Medicare there are a few key things I share with everyone when starting on the journey:
- There are two main parts to Medicare: Medicare Part A (hospital insurance) and Medicare Part B (medical insurance).
- Most people don’t pay any monthly premiums for Medicare Part A. Most people pay $135.50 a month for Medicare Part B.
- There are two different programs that offer these benefits. You pick whether you want to be in Original Medicare or Medicare Advantage. You must get this decision right for your situation. One of the main reasons people regret their Medicare decision is because they unknowingly pick the wrong plan.
- Insurance companies try very hard for you to pick a plan that is best for them because it makes them the most money. Most of the time what is best for them is not best for you.
I cover these, and other critical steps, in my free Medicare workshop “How To Make Your Right Medicare Decision Without Wasting Time On Research Or Paperwork.”
Medicare is a critical decision. It is vital that you make sure you are picking the right options when you first join.
With Medicare Coach, you’ll get personalized support to guide you through every step of your Medicare decision.
Take the first step today by clicking below to sign up for our Medicare Enrollment Concierge.
