Medicare decisions often require thorough analysis. Deciding whether (or not) to enroll in Part A only, or enroll in Parts A and B and be confusing enough; but there are a series of decisions that need to be made after enrolling in Original Medicare, A and B.

I meet folks all the time that have been on Medicare for years and were unaware of all their options at their time of enrollment. After I break down their choices, during Annual Election Period, I usually hear a one or two of a series of comments:

 “I had no idea these plans were available to me.”
 “I’ve been overpaying for years, and I would have saved thousands in premium payments.”
 “I’ve been spending way too much for my Part D drug deductibles, premiums and copays.”

It’s easy to get frustrated with Medicare plan decisions- there is so much information, it’s easy to see how people get bogged down.

I tell people all the time that Medicare by itself could easily be a grad school-level course. Medicare isn’t something that is generally grasped on the first try; even career agents spend time mastering the nuances.

Today everyone seems strapped for time- so here are the top 3 mistakes I’ve seen Medicare enrollees make.

3. Trying to find “THE BEST PLAN”

There is no “best plan” and anyone that says so is mistaken. Everyone is different and an individual’s circumstances determine their best plan fits.

2. Ignoring Part D

Finding the best drug plan for you involves comparing your medications against carrier formularies; AND toggling between Part D stand-alone plans and Medicare Advantage plans (MAPD) to determine projected costs. Even those that don’t take any medications will likely want to enroll in a plan, to avoid penalties.

1. Not consulting with a Medicare Advisor

Independent Medicare Advisors work with you to educate you on Medicare and then to evaluate plan options- based on your personal situation. Most advisors (like me!) DON’T CHARGE FOR THEIR CONSULTATIONS.

Professional guidance will almost guarantee long-term financial savings on Medicare. It’s prudent to use a professional experienced in the area of Medicare and will save many hours of mind-numbing research.