Don’t let your Medicare Plan lapse when there is a simple solution. It is important to us that your Medicare needs are covered. We make it our business goal to always do what is best for you. This starts with helping you look at the best plans for you. Sometimes that is a Medicare Supplement plan with a Medicare Part D Prescription Drug plan. For others, Medicare Advantage works best for them. Bottom line is Medicare is confusing and each year there are little things that change. Changes come in the way of premium increases for part B, to deductible changes and how your medications are covered.
Each year we also tend to see increases in premiums for Medicare supplement plans. Some of those plans will let us know when an increase is coming, others do not let us know. So side note, please reach out to us when you see an increase notice and let’s take some time to see what other options out there fit your budget.
This little note though is really about protecting you from losing your coverage. We have had a handful of clients, usually who are getting older, forget to pay premiums, or for one reason or another didn’t receive their notices that their policy was lapsing due to lack of payment.
We strongly encourage you to use automatic withdrawal each month for your payment. We know for some this seems scary, “what if my checking information is stolen”? To be honest it is safer this way, instead of sending out a check in the mail. Don’t let your Medicare Plan lapse because you forgot to pay it. We had one client who who we couldn’t get back on her Medicare Part D drug plan due to this oversight. She will now need to wait until the fall to re-sign up and go without a drug plan for about 8 months. She will also have a slight penalty the rest of her life on her Medicare Part D.
Don’t let your Medicare Plan lapse over something that is simple to fix. We encourage some of our clients, who find this difficult to do, to have a son our daughter help them set auto-withdrawal up. We can help you with this as well.
One of Rick’s latest videos about this very thing.