Everything you need to know about Medicare's 2022 Annual Enrollment Period (AEP) dates, costs, eligibility, and opportunities to change your Medicare insurance coverage this Fall. Key Takeaways The Medicare Annual Enrollment Period (AEP) starts each year on October 15 and ends on December … [Read more...]
Why Medicare Advantage Plans are Bad: 7 Top Complaints
One of the most common questions we get here at MedicareWire is, "are Medicare Advantage plans bad?" In this article, we will explore this exceptionally important question by contrasting Medicare Advantage plans vs. Original Medicare and Medigap. Why Do So Many People Feel Medicare Advantage … [Read more...]
How Much Does Medicare Cost?
Medicare Has Premiums, Deductibles, Copayments, Coinsurance, and Other Costs. Many people make the mistake of thinking that Medicare, the federal government's health insurance program for people age 65 and older, will pay for everything related to their health care. Unfortunately, it doesn’t. The … [Read more...]
Medicare vs. Medicaid: Can You Have Both?
Medicare is health insurance for adults aged 65 or older and those with certain disabilities. Many people are surprised to learn that Medicare is not end-to-end healthcare. In fact, from the beginning, Medicare was designed to cover only about 80 percent of a beneficiary's major medical expenses. … [Read more...]
Medicare Mistake #10: Costly Financial Moves when You Retire
In Medicare Mistake #9 we talked about how expensive it can be to go out-of-network in a Medicare Advantage plan and what you can do about it. Similarly, retiring can also be costly with Medicare. In this tenth and final edition of our Medicare Mistakes Series, we'll address three things you need to … [Read more...]
Medicare Mistake #9: Going Out-of-Network in Your Medicare Advantage Plan
In Medicare Mistake #8 we explained the importance of understanding your coverage and reviewing it annually. In this installment of our Medicare Mistakes Series, we want to explain how costly it can be to go out of network in most Medicare Advantage plans, and what you can do about it. Key … [Read more...]
Medicare Mistake #8: Not Reviewing and Understanding Your Coverage
In Medicare Mistake #5 we talked about why the best plan for your spouse or friend might not be the best plan for you. In this Medicare Mistakes article, we'll address the importance of reviewing and understanding your coverage to make sure you're actually getting what you need. Key Takeaways … [Read more...]
Medicare Mistake #7: Choosing the Wrong Medigap Plan
In Medicare Mistake #4 we talked about why Medicare Advantage isn't the best option for people with chronic health issues, and how Medicare supplement insurance offers solid protection from deductibles, copayments, and coinsurance. In this article, we'll address the importance of getting the right … [Read more...]
Medicare Mistake #6: Not Leveraging Assistance Programs
Medicare offers all of its beneficiaries the ability to gain access to quality health care regardless of their race, color, creed, economic status, or health condition. As we discussed in the first article in our Medicare Mistakes Series, Medicare is not free, and the premiums, deductibles, and … [Read more...]
Medicare Mistake #5: Getting the Same Medicare Plan as Your Spouse
Medicare health insurance is a very personal product. And, other than a household discount from some Medicare supplement companies, there are no discounts for choosing the same plan as your spouse. In this, the fifth article in our Medicare Mistakes Series, we'll cover why buying the same coverage … [Read more...]
Medicare Mistake #4: Joining a Medicare Advantage Plan at Age 65 if You Have Chronic Health Conditions
If you are a healthy senior, choosing a Medicare plan at age 65 is relatively straightforward. But what if you have chronic health issues? In the fourth article of our Medicare Mistakes Series, we'll address this very important issue. Key Takeaways Original Medicare does not cover routine … [Read more...]
Medicare Mistake #3: Not Signing Up for Medicare If You Have Retiree, COBRA, or Other Health Coverage
In Mistake #2 of the Medicare Mistakes Series, we addressed forgetting to enroll in Medicare at age 65, but we skimmed over the issue of not enrolling if you are still working and have group health coverage through your employer. In some cases, it's okay to keep your employer's coverage, but in … [Read more...]
Medicare Mistake #2: Forgetting to Sign Up for Medicare at Age 65
In our first article in the Medicare Mistakes Series, we dispelled a common misconception that Medicare health coverage is free. In Mistake #2, we're going to address an equally important topic, getting enrolled on time and avoiding penalties. Key Takeaways Medicare has various enrollment … [Read more...]
Medicare Mistake #1: Thinking It’s Free!
Many people mistakenly believe that Medicare is free for retirees and people with disabilities. After all, during all of the years that we work we paid Medicare taxes, right? So, why isn't it free? In this MedicareWire article, we'll explain how much Medicare costs and what you can do to … [Read more...]
What is the Average Cost of Supplemental Insurance for Medicare?
According to MedicareWire research, the average Medicare Supplement insurance premium in 2020 was $154.50 per month. We evaluated over 100 of the best Medicare Supplement plans to find out how much it costs the average person for Medicare supplemental insurance. Key Takeaways The amount of … [Read more...]
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