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Financial Friday: What you need to know about enrolling in medicare

Published: Oct. 15, 2021 at 12:50 PM CDT
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HUNTSVILLE, Ala. (WAFF) - Nearly 10,000 people are turning 65 in the United States every day and this trend will continue for the next decade. At the age of 65, most are transitioning into Medicare.

Medicare open enrollment begins on October 15, and those eligible will have until December 7 to enroll. Medicare, and all the healthcare decisions that come with it, can leave you confused and a little anxious.

Roderick Green, a Medicare Specialist with Redstone Insurance Services, has the following advice to help us understand the process.

  • The best time to start the enrollment process is three to six months before you turn 65. This gives the government agency enough time to finish the process before your birthday so that there is no gap in coverage.
  • Contact your local Social Security Office and set up a MyMedicare.gov account so that you can check your enrollment status and get details about the plans you enroll in.
  • Reach out to a trusted advisor to explain Part A, Part B, and Part D coverages. Remember that your situation is unique to you.
  • Enrolling in Medicare can only happen at certain times. If you are already receiving benefits from Social Security or the Railroad Retirement Board, you are automatically enrolled and will not need to do anything to enroll.

For more ways to save, be sure to tune in at noon every Friday for WAFF 48′s “Financial Friday” segment.

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