Recently, the more clients I speak with, the more popular the notion that Medicare is too complicated to be understood by the average individual becomes.. or is it?
Growing up, there was a common proverb grown-ups would use to end certain conversations in a subtle way. Have you ever heard the phrase, “ what you don’t know won’t hurt you”? According to the Farlex dictionary; if you remain ignorant or uninformed about something this will allow you to not have the sense of responsibility to worry or think about it.
Imagine overhearing this conversation; how much was your last hospital bill or did you have to replace your glasses or I had a dental emergency today – how much did it cost? The reply was “ don’t even ask – what you don’t know won’t hurt you’. An unexpected health-related emergency can significantly impact your finances. Why is it so easy to remain uninformed?
Providers, patients, caregivers all need to have sufficient knowledge relating to available Medicare Health plans, the differences with each plan and cost-sharing requirements, this is vital in order to educate and advocate for others to make informed decisions. I implore you to visit medicare.gov to learn more about the Medicare program.
Why is it that managed care (health insurance) plays such an intimate part of healthcare expenses but it is often overlooked by millions. Is it because the language is so complicated it is just easier to ignore it?
According to Steve Harvey on Family Feud- aired on ( I don’t remember the date), the number one reason that indicates arrival into adulthood was the ability to drive a car. So if driving a car makes you an adult, does turning 65 make you a retiree? Adolescents often anticipate hitting the road – except they have to fulfill certain requirements. They typically obtain a driver’s permit and beg their parents to provide/or facilitate driving lessons.
Just as important as preparing young drivers to learn the rules of the road, likewise, understanding Medicare is important for everyone turning 64. Retirement might not be as highly anticipated as obtaining a driver’s license, but the financial burden is not equivalent either.
Did you know Medicare is not free – as a matter of fact, paying for coverage can be very expensive. Being prepared to enroll during your initial enrollment or ‘guaranteed issue’ period is key to saving hundreds or even thousands in Medicare cost.
The average lifespan has increased, advancement in technology and innovative treatment option have the ability to prolong life. Retirement may be the end of your work-life but it may also be the beginning of a long road ahead – get “licensed”, get educated for the journey!