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1. Enrolling in a Medicare plan without prescription drug coverage.
Known as a Part D drug plan, this plan type provides catastrophic coverage to protect you against the risk of paying thousands of dollars should you receive an expensive specialty prescription.
2. Assuming that your neighbor or friend's coverage is right for you.
Your doctors, prescriptions, budget, and lifestyle should inform the plan you select. Otherwise you might end up with a fancy insurance brand, and little else.
3. Choosing Medicare supplemental coverage through an insurance carrier rather than an independent advisor.
Insurance companies only show you their own plans, not all of the plans in the market. Independent advisors ask about your needs. And they can search among thousands of plans, all at no cost to you. We at Chapter, in particular pride ourselves on searching through all plans (as opposed to just the few that pay us). If you'd like to book a 15-minute call with us feel free to do so here.
4. Missing an open enrollment period.
If you wait too long to sign up for certain type of coverage, you could be subject to lifetime penalties. Or worse still, not be able to enroll in certain types of coverage at all.
5. Thinking that you should only select your Medicare plan once and renew plans every year.
Plans change premiums every year. And for some plans, benefits do too. So it's important to shop and compare your coverage each year.Chapter is a new type of Medicare advisor that combines technology and licensed experts to help you navigate Medicare and choose the right coverage — all at no cost to you (ever).
You can call us at (605) 205-8869, or you can give us a time to call you. You can also reply to this email if you have any specific questions.