Let’s face it – Medicare is confusing. There are so many rules, and it’s difficult to know which of these rules apply to you. There are 3 basic ways you can go about getting informed (Hint: See #3):
#1 – Do the research yourself.
Research is great, but in effect, you have to learn everything about Medicare in order to start eliminating what doesn’t apply to you. Example… Do you have a proper enrollment period? Which parts of Medicare do you need? What if employer coverage is available, etc., etc? It’s an awful lot of work to learn 100% just to arrive at the 2% that applies to you. And if you make a mistake, you may be stuck with that mistake for a long time. You could even accrue a penalty!
#2 – Go to a meeting
Meetings are fine, but they speak in general terms, so you still have to figure out what applies to you and what does not. Many of my clients have told me they’ve walked out of meetings more confused then when they walked in.
#3 – Work with an experienced, licensed Medicare broker
There really isn’t a reason not to work with an experienced, licensed Medicare broker. First and foremost, there is no cost for their services. Simply put, it’s free advice. Experienced, licensed Medicare brokers know all about the Medicare rules and the various products that are available – so they can advise what might work best for you depending upon your specific situation – and ensure that it’s done correctly.
Neil Steinman is the principal of Orange County Health & Life Insurance in Orange County, CA – and has been serving the needs of California residents for nearly 20 years.