10 surprisingly common medicare mistakes to avoid

6. DELAYING PURCHASE OF A MEDIGAP POLICY ​​Medigap is supplemental health insurance that works with original Medicare to pay some out-of-pocket costs that Medicare doesn’t cover, such as

Part A’s hospital deductible or Part B’s 20 percent coinsurance. Depending on where you live, you can choose from as many as 10 types of Medigap plans from several insurers. The best time to

buy a policy is during your Medigap open enrollment period, which is six months after you enroll in Part B at 65 or older. Otherwise, Medigap insurers in most states may reject you or

charge more if you have a preexisting condition.  Check with your State Health Insurance Assistance Program (SHIP) about state-specific Medigap rights.  7. NOT BEING PREPARED FOR MEDICARE’S

COVERAGE GAPS MISTAKES AT A GLANCE * Missing initial enrollment * Dismissing special enrollment * Delaying secondary coverage * Ignoring late penalties * Not fully weighing options *

Delaying buying Medigap * Overlooking coverage gaps * Not covering your doctors * Not checking your drugs * Not considering financial aid​ ​​Although Medicare pays the lion’s share of

enrollees’ medical costs, you need to be prepared for substantial out-of-pocket costs. Here’s a rundown: ​​ * PREMIUM. Each part of Medicare typically has its own monthly cost although most

people don’t pay premiums for Part A. You’ll be responsible for the Part B premium, and you may have to pay more if you enroll in a Part D plan and Medigap or a Medicare Advantage plan. *

DEDUCTIBLE. Before Medicare starts covering your care, you may have to pay a certain amount. Parts A and B in original Medicare have annual deductibles although some preventive screenings 

may not be subject to the Part B deductible. Some Advantage and Part D prescription drug plans also have deductibles. Medigap policies often cover the Part A deductible. * COPAYMENT. With

Medicare Advantage plans, you may have to pay a fixed amount, usually around $25, for specific services, such as seeing a doctor or receiving care. * COINSURANCE. If you have original

Medicare, you’ll owe a percentage of the cost of a medical visit or service, 20 percent for many Part B services. So if a blood test costs $100, Medicare will pay $80 and you’ll be

responsible for $20. Medigap policies usually cover your 20 percent share. NOTE: If you have original Medicare, make sure the health provider you see accepts Medicare and takes what is

called “assignment.” That means the provider is willing to accept the amount of payment on Medicare’s fee schedule for the service they perform. 8. CHOOSING AN ADVANTAGE PLAN WITHOUT YOUR

PROVIDERS Medicare Advantage plans typically have provider networks, and the rules depend on the type of plan. A health maintenance organization (HMO) may not cover out-of-network providers

except for emergencies while a preferred provider organization (PPO) may charge larger copayments for out-of-network doctors than they do for those in their network. Find out if your

providers are in the plan’s network and whether you’ll have coverage if you go out of network. 9. CHOOSING COVERAGE THAT DOESN’T INCLUDE YOUR DRUGS ​​When choosing prescription coverage,

make sure your plan covers all medications you take. Each Part D plan has a list of covered drugs, called a formulary. If your drug is not on the plan’s list, you may have to request an

exception, pay out of pocket or file an appeal. Plans change formularies, so during Medicare’s Oct. 15 to Dec. 7 open enrollment period, check your plan’s formulary to make sure your

prescriptions are covered at a price you can afford. Find out if your plan places restrictions on coverage. The plan may require you to get prior approval before it will pay for a particular

drug, even if your doctor prescribes it. And see if you can save money using a preferred pharmacy. 10. ASSUMING YOU CAN’T AFFORD MEDICARE ​​A common misperception is that limited income

means you can’t afford Medicare. Thanks to these programs, you may be able to get assistance with your Medicare costs: ​​​MEDICARE SAVINGS PROGRAMS (MSPs) — three types are available — help

pay the monthly Part B premium and help with Medicare cost sharing, depending on the program. Contact your SHIP to learn if you are eligible for an MSP. EXTRA HELP is a federal program that

helps pay the costs of Part D prescription drug coverage. Contact the Social Security Administration at 800-772-1213 or visit the agency’s website to learn if you’re eligible for Extra Help 

and to start an application. STATE PHARMACEUTICAL ASSISTANCE PROGRAMS (SPAPs) are offered in some states to help eligible individuals pay for prescriptions. Check Medicare.gov’s list of

assistance programs or contact your SHIP to learn if a program is your state. Video: What Are the Biggest Mistakes When Signing Up for Medicare? ​_This story, originally published Oct. 11,

2021, is regularly updated to include new Medicare policy and information._