Medicare Mistakes: How to Avoid Mistakes with Medicare

MedicareBob

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If you currently have a Medicare Advantage Plan and you’re looking at upgrading to a Medicare Supplement (Medigap), the mistake many agents make is they will make your Medicare Supplement plan effective for January 1st and they will submit your Part D drug plan for you as well making it effective for January 1st. This is a huge mistake!

The issue with this is that as soon as they submit your drug plan, it will automatically kick you off your Medicare Advantage Plan. Because there are only a few days left of the Annual Enrollment Period, you will not know in the next couple days whether or not you’ve been approved for the Supplement Plan.

This is how the series of events will unfold to the mistake that could cost you your Medicare Health insurance coverage: The agent will submit your Medicare Supplement application with an effective date of January 1stalong with the Part D drug plan. You will be approved for the drug plan immediately and it will cancel your Medicare Advantage Plan because that’s how the Medicare system is set up. Unfortunately, in another week or so, you will find out that you were not medically approved for the Medicare Supplement and now you are left with only Original Medicare A and B with a Part D plan for your medications.

The best way to avoid this mistake is to INSIST that your agent makes the Medicare Supplement policy effective date for February 1stand wait to submit the Part D drug plan until January. There is a second enrollment period that runs from January 1st to March 31st which allows you to go from a Medicare Advantage Plan to a Medicare Supplement.

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