Disproving Medicare’s Colossal Myths

​About 60 million people are on Medicare insurance. Because of this, it tends to be hard to identify reality from fiction when there are so many people talking about it. We're here to assist you with figuring out the deception and the facts behind the greatest Medicare myths. Numerous pieces of deceiving information are out there circulating. Let’s discuss a few things.

Medicare is Free
Due to the obvious deductions on their paychecks throughout the years, many individuals believe Medicare is free. Medicare Part A (hospital insurance) normally does not have a monthly premium if you pay tax payments for 10 years (or 40 quarters). Part B (medical insurance) usually continues to do so, and its rate is subject to change each year.

Covers 100 Percent
Medicare has coinsurance, deductibles, and copays. The deductible is dependent on future developments every year. You may have to pay the Part A deductible more than once in a calendar year because it is per benefit period. On the other hand, the deductible for Part B is a yearly cap.

The Exclusion From Part B Charge
The cost of many Medicare Advantage Plans is minimal to none. Before you enroll in Medicare Advantage, you must first subscribe to Medicare Part A and Part B. You will still be responsible for the expenditures connected with those two portions of Medicare. In other words, you should still pay for Part B each month in most circumstances. Some Medicare Advantage plans, on the other hand, will cover everything or a portion of your Medicare Part B premium.

Signing Up Anytime
Delaying your Medigap enrollment when you initially become eligible might be costly.

You have 6 months from the date of issuance of Medicare Part B to register in a Medigap plan without having to answer health screening questions. Even if you have pre-existing problems, you can acquire acceptable coverage during this window.

After these six months, you may still register for a Medigap plan, but most states require you to fulfill medical underwriting standards. Certain medical problems and drugs may lead your Medigap provider to raise your premiums or deny your application for coverage.

Deferring Sign Ups 
You can defer signing up for Medicare, assuming that you have noteworthy inclusion through your manager. If your manager has at least 20 workers, you can defer signing up for Medicare without punishment.

Conclusion
Rumors and fallacies about insurance will always be present. But, everyone must know what is factual to avoid having issues in the future, believing you were or weren’t covered for something.

At Insurance Plans America, we do our best to ensure that our clients are well-protected with affordable and comprehensive policies. We make sure to go the extra mile to help you with your needs. To learn more about how we can help you, please contact our agency at (877) 752-6711 or Click Here to request a free quote. The coverage discussed in this article is not guaranteed. Please call our agents, we are happy to help you learn more about your plan and make sure you have the coverage you need.