Updated: 5 days ago
An about 44 million beneficiaries, or 15 percent of the U.S. population, are enrolled in Medicare. Surprisingly, by 2030, the enrollment is expected to 79 million. But, when talking about Medicare, there is a lot of misconception and inaccurate information out there.
If you are soon t be one of them this year or next year, you may have heard some things about how the program works. Getting the wrong information about the program can cost you a lot. That is why you need to do some research or with the help of a medicare insurance agency.
Myth#1: You can apply for Medicare at any time.
This is absolutely wrong! Medicare is only applicable to people who retire at the age of 65. When a person is eligible, they can sign up for Medicare Part A and B runs for 7 months. Specifically, it begins three months before you turn 65, your birth month, and the last three following months.
Myth 2: It is free healthcare.
The answer to this statement will be YES and NO. Part A (hospital insurance) is indeed free if you paid Medicare payroll taxes. But, other parts of Medicare, such as Part B(medical insurance), Part C (Medicare Advantage), and Part D (prescription drugs), comes with a monthly premium.
Myth 3: Medicare covers long-term care.
Many people believed that when you sign up for Medicare, it will cover everything for you. The truth is, no. Even if you ask your local medicare insurance agents, they will say the same. Medicare doesn't cover long-term care. The parts of Medicare cover hospital stays and tests, doctor visits, preventive services, home health services, and short-term skilled nursing care.
Myth 4: Medicare costs and coverage stay still.
The truth is every year, your Medicare costs and coverage changes. Medicare evaluates the cost of care and makes adjustments to it. Accordingly, the cost of premiums and deductibles goes up, and sometimes it goes down. Get help from medicare consultants to review your plan to check all information and get extra coverage.
Myth 5: Medicare program only covers 65 years and older people.
Yes, people who are 65 years and older are indeed eligible to sign up for Medicare. But, it doesn't stop there. Some young people can qualify for Medicare plans. This includes those who are receiving Social Security disability benefits or RRB disability benefits for 24 months. Moreover, young people who have ALS (amyotrophic lateral sclerosis) or ESRD (end-stage renal disease) can also apply for Medicare coverage and benefits.
Don't Miss Out on Medicare!
Our local medicare agents will help you understand enrollment deadlines and find the right plan for you. We're local and ready to help. Give us a call at 808-652-5210 or send us an email at email@example.com.