I often get asked what some of the biggest Medicare misconceptions are and what to do about them. Honestly, there are many misconceptions about Medicare, but it comes down to one HUGE misconception that I wish I could get rid of.
“Medicare is bad.”
I hear this all of the time. Unfortunately, this misconception comes from people who have heard horror stories from friends, family from insurance companies who want to scare into buying their products.
The truth is, Medicare isn’t bad, and it can work for you.
As people approach Medicare, probably in their 60-64 range, they think about Medicare, and they’re really scared about being on Medicare. Due to this, I see people delaying retirement because they don’t want to deal with the Medicare health care system.
They’re worried that it will cost them a lot of money to be on Medicare or worry that there are terrible doctors out there that you have to see.
They think these things because of these horror stories and, they do exist. We hear them all of the time, and it’s unfortunate.
Here’s the thing, Medicare can be great, as long as you do what’s right for you. We see how Medicare can work for people every single day.
With that said, I think this misconception exists because there’s another misconception that any Medicare plan will work for them. So they just assume that they can pick any Medicare plan because they’re all the same and think if something changes in their life, they can switch plans at any time.
I can tell you that’s not true either. You likely can’t switch Medicare plans at any time. Due to insurability rules in most states, it makes it hard, if not impossible, to change plans in the future.
So despite what the commercials look like, or despite what your friends or family tell you, not all Medicare plans are the same. AND Medicare isn’t scary or bad.
You just have to make sure that the Medicare plan you choose fits your unique situation. I really want you to understand what your options are so that you can protect your health care rights as well as your retirement savings.
