Choosing A Great Insurance Policy

3 Medicare Myths, Debunked

Social Security may help you throughout retirement, but some sort of insurance and coverage will be necessary to help with the cost of medical care, especially when you are older. Fortunately, Medicare is a program offered by the government that helps seniors with the cost of medical care. While common, this program is not understood by many people. By learning the truth about a few common myths, you will have a better understanding of the Medicare program.

Myth: Anyone Can Enroll at Any Time

Timing is crucial in regards to this government program, which is one of the most important truths you need to learn about Medicare. Many people believe you can enroll in the program at any time once you are old enough, but that is not necessarily true.

First and foremost, Medicare is for individuals 65 years of age or older, but it is also available to younger individuals who are living with a disability or kidney failure. If you meet these stipulations, you may be eligible to apply for the assistance.

The application to enroll requires a lengthy process, so you should begin the enrollment process after October 15th. This is the starting date of the enrollment period, which lasts until December 7th.

Myth: It Covers All Medical Expenses

Another common myth associated with Medicare is that it will cover all of your medical expenses. Unfortunately, believing this myth can lead to surprising costs that you cannot afford.

In most cases, the program will not cover costs associated with your hearing, vision, or dental care. If you do require these services, additional health insurance may need to be purchased.

If you require care from a podiatrist for issues related to your feet, coverage will depend on whether treatment is considered elective or necessary. Treatment bone spurs will be covered because it is considered necessary treatment. On the other hand, removing a callus, which is an elective procedure and not actually necessary, will not be covered.

Myth: It Is Free

Medicare is not free, even though many people believe it is. While it is a form of aid from the government, you may be responsible for paying premiums and deductibles.

Of course, what you will be required to pay depends on a few factors. Your current retirement income, Social Security benefits, and the number of credits you received while working over your lifetime will play a role in your premium and deductible costs.

Medicare is a great program, but proper understanding is essential. With this guide, you will learn the truth behind a few common myths associated with this program.