Missing Enrollment Deadlines:Missing enrollment deadlines can have serious consequences for your Medicare coverage and potentially result in gaps or penalties.
It’s essential to mark all relevant enrollment dates on your calendar, including the
Medicare Advantage Open Enrollment Period (January 1 – March 31) and Annual Election Period (October 15 – December 7), while allowing sufficient time for application processing.
Karen at Senior Benefit Services emphasizes, “We guide clients through enrollment timing to prevent missed deadlines. Processing can take up to several weeks, so planning ahead is crucial for continuous coverage.”
Overlooking Coverage Gaps:When transitioning between Medicare plans, it’s critical to verify continuous prescription drug coverage to avoid late enrollment penalties and ensure access to needed medications without interruption.
Carefully document all coverage effective dates and keep copies of enrollment confirmations, plan acceptance letters, and any correspondence regarding your coverage changes.
“Maintaining meticulous records protects you during the transition,” advises Senior Benefit Services advisor Sharon Sass. “We help clients track their documentation and effective dates to ensure seamless coverage transitions.”
Insufficient Research:Thorough research is crucial before making Medicare coverage decisions.
Take time to compare available plans’ benefits, costs, network coverage, and prescription drug formularies while carefully reviewing performance ratings and member satisfaction scores.
“Healthcare needs often change as we age,” explains Karen Simundson of Senior Benefit Services. “We help clients evaluate plans not just for current health situations but also considering potential future medical needs to avoid unexpected coverage issues down the road.”
