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4 Common Medicare Mistakes

1/24/2013

Few government programs are as valuable or confusing as Medicare. While it would be impossible to completely explain or answer all the questions people have when it comes to Medicare in a short article like this... I thought it might help at least to identify the biggest mistakes people make when it comes to the program.

4 Common Medicare Mistakes:

Accidentally getting kicked off your retiree coverage - If you opt for the Advantage Plan over Parts A & B, your former employer may kick their retirement health plan. Consult with an expert before making this decision.
Skipping Medicare enrollment because you are still employed at age 65 - You should at least pick up Part A which is free and covers hospital stays and may cover costs your employment health insurance does not. It is a no-brainer. As for the rest, it varies according to your employer's plan and you should sit down with a Medicare expert.
Forgetting to sign up when you or your spouse retires - you have 8 months from your last month of employment to sign up for Part B. Some people miss it because their employer's retiree health plan is generous... unfortunately, we have seen what can happen to employer's health plans. If you decide to sign up for Medicare later, you will be hit with penalties and delays.
Not at least considering Medigap insurance right away - Medigap insurance covers many of the gaps that exist in Medicare. You should at least look at this type of insurance at the time you enroll for Medicare. The longer you wait, the more this insurance will cost... so if you decide you want it, buying early is the right way to go.

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So does past performance really matter?

1/11/2013

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The phrase “past performance is not an indicator of future outcomes” (or some
variation thereof) can be found in the fine print of most mutual fund literature.
Yet due to either force of habit or conviction, investors and advisors consider
past performance and related metrics to be important factors in fund selection.
So does past performance really matter?

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4 Common Medicare Mistakes

So does past performance really matter?

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