Transitioning to Medicare

Avoid common, costly mistakes when signing up for Medicare

Turning 65 is a milestone when most people change their health coverage to Medicare.  The process for making the switch however is laden with complex rules and deadlines that can cost you, sometimes for life, if you are not aware of them.  Lovelace Insurance has put together the following information to help you get acquainted with Medicare.  Taking the right steps to enroll in Medicare, and to select the right coverage, the right way, helps you to avoid excessive medical costs down the road, and even fines and penalties that can take a chunk out of your life’s savings. 

Original Medicare does not cover all your healthcare costs, but you have options with Medicare. Review your overall healthcare costs and needs, including regular health maintenance visits, specialists you see, prescription drug costs and any procedures you know you will need. This will help you understand your overall financial picture.
Check to see if your current healthcare providers accept Medicare. While most do, some doctors opt out of Medicare so they are not required to follow Medicare rules. In other words, you’ll want to make sure your doctor can’t tack on extra costs and you are getting the lowest cost for your services.

Before you select what type of Medicare coverage is best for you, take time to understand all the different parts of Medicare. Selecting the wrong coverage can cost you! Visit our Medicare Resources by using the menu to the right for easy to follow information on Medicare, including descriptions and videos on Medicare Parts Parts A (Hospital Coverage), B (Medical Coverage), C (Medicare Advantage) and D (Prescription Drugs), as well as supplemental charts, and national average premiums. Also please call us for FREE personal guidance.

Talk to a Medicare Professional, like Lovelace Insurance. We’ll do the leg work for you, helping you to add up all your costs (copays, premiums, etc.) so you can pick the best option. And we continue to be resource for you annually, to help you with changes that may take place with your current coverage and to evaluate new options that may be a better fit for your needs.  Give us a call or fill out the form on the right to request an appointment.  Our guidance is provided at no cost and no obligation!

For most people, Medicare is not automatic.  You need to enroll in original Medicare (Parts A & B) before you can sign up for a Medicare Advantage or Supplement plan.  To enroll, you will be required to provide proof of your eligibility. Some acceptable documents are birth certificate, proof citizenship if not born in the US, W-2 or tax forms, and or military records.

Most people will have an Initial Enrollment Period which is a 7 month period around the time they turn age 65. This period begins 3 months before the month you turn 65, includes the month you turn 65, and ends 3 months after the month you turn 65.

For people transitioning from employer coverage at other ages, a Special Enrollment Period is available for eight months after other insurance ends, and coverage begins the first month after you enroll.

Note that COBRA is not normally considered to be creditable coverage for Medicare major medical benefits, so people who are enrolled in COBRA and do not enroll in Medicare Part B within 8 months of turning 65 face substantial financial penalties for the rest of their lives, even if they have months or years left on their COBRA.

Follow this link to apply online or call your local Social Security office.  Here you can enroll, create your Medicare account, track your Medicare information such as bills, claims, health information and more, as well as print your Medicare card.

Additional Medicare Resources

Susan & David Lovelace
Medicare Insurance Advisors

Susan and David Lovelace are licensed Medicare professionals in Florida, and in the state of Georgia. With decades of experience, they ensure folks, when eligible, transition smoothly into the right Medicare coverage to fully serve their healthcare needs, while protecting their retirement savings.

Call 561.845.7392
or 888.556.5859 Toll-Free
Email Us

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