| Here's how advisors can help clients avoid common and costly Medicare mistakes | | |  | WED, JUN 19, 2019 | | | | Medicare is a great federal program that helps seniors cover the bulk of their medical expenses. Yet, despite being so popular, there are still many misconceptions that exist. To that point, like most of the health care in the U.S., the rules and laws around Medicare are confusing.
Making any mistake can cost you, big time. Not only could you miss out on signing up in time, but you might even end up spending more on health-care costs.
The most common mistake made with Medicare is missing your enrollment window. Also, many people automatically sign up for Medicare Parts A and B without considering other options. Many don't know much about Medigap plans, extra health insurance that you purchase from a private insurance company. Finally, if you're still working and receive health-care coverage through your employer, you don't have to sign up for Medicare during the age 65 enrollment window.
It pays to do the proper research before you enroll for Medicare. It also makes sense to seek informed, unbiased guidance from a financial professional to help you make smart Medicare benefit decisions.
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