Medicare open enrollment doesn’t have to be overwhelming

Medicare open enrollment doesn’t have to be overwhelming

A few weeks ago, I received the thick Medicare & You government handbook that is mailed to every Medicare household each fall before open enrollment (Oct. 15–Dec. 7).

Seeing it immediately made me feel anxious and overwhelmed.

The handbook is a comprehensive guide to Medicare and covers many topics like the basics of coverage, changes for the upcoming year, plan comparison tools, and prescription drug coverage. And while it is meant to be the go-to reference for beneficiaries, many people find it overwhelming because of the amount of detail.

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Expect penalties if not enrolled in Medicare at 65

ComputerMany people consider April 15th the date to remember. We have to be on our toes at tax time because a late return could result in a penalty. As the first of the baby boomers turn 65 next year, Medicare will present them with new dates to remember and another set of penalties if they’re not on their toes. At a recent presentation of Medicare coverage choices, I watched the audience sit openmouthed in disbelief as they were told that not signing up for Medicare within the appropriate window could result in penalties for the lifetime of their coverage.So in the spirit of spreading the news to boomers nearing 65 who are overloaded with news and information, here are the simple facts about Medicare penalties. There are two main choices for coverage: Medicare Part A (hospital insurance) and Medicare Part B (medical insurance). Medicare Part A is free for most enrollees, so everyone is encouraged to sign up. There is a seven-month window for enrolling: three months before your...

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