3 Medicare Mistakes to Avoid During the Coronavirus Pandemic
The COVID-19 pandemic has changed the way a lot of people live -- and not necessarily for the better. All of this upheaval could cause you to make some very poor choices with regard to your healthcare, and that's a good way to lose money and compromise your health at a time when you can't afford to. With that in mind, here are three Medicare mistakes to avoid at all costs during the ongoing crisis.
Health coverage under Medicare begins at age 65, and you can enroll up to three months prior to the month of your 65th birthday. You can also enroll up to three months after that month and get retroactive coverage dating back to when you turn 65.
Either way, it pays to sign up for Medicare on time for a couple of reasons. First, the sooner you enroll, the sooner you'll avoid a coverage gap during a pandemic -- enough said. Secondly, if you wait too long to enroll, Medicare Part B, which covers outpatient services, could end up costing you more. Specifically, you'll face a 10% surcharge on your premiums for each year-long period you were eligible to enroll but didn't.
Source Fool.com
