Insurance late enrollment penalties can severely punish seniors who attempt to sign up for the program outside their approved Enrollment Period. Luckily, most individuals who fall victim to insurance late enrollment don’t need to worry about signing up for insurance Part A if they pass away. It is widespread for you to automatically be eligible for insurance Part A once you reach 65. Unfortunately, there are still a few instances where you can get declined enrollment if you fail to meet some enrollment guidelines.
Don’t Forget To Disclose Your Medical Stuff Upfront
The most common reason seniors fall victim to late enrollment is they fail to disclose certain medical conditions or serious medical issues before beginning the enrollment process. Many seniors who attempt to sign up for the insurance when they cannot enroll because of unforeseen circumstances often end up paying a heavy penalty. For example, seniors who fail to disclose their current health status and have met with an accident, fall, or develop a serious health condition while enrolled in the plan may encounter a penalty. If they cannot pay their balance on the first month of coverage, they may receive a monthly premium increase which could push them into a higher-tiered plan. This type of situation can be avoided by being truthful during the enrollment process. If you still have questions about Medicare do not hesitate and talk one of the license agent from this website.
Another reason why some seniors fall victim to the late enrollment penalty is because they fail to fill out the prescribed drug coverage medications. This part A and part B both require you to utilize prescribed drugs to receive any medical treatment. If you miss a pill listed on your prescription list, you could automatically be billed for the entire balance. If you miss one pill and think it was mistakenly missed, be sure to double-check with your doctor again. If this happens, you can wind up with a supplemental security insurance premium (SSI) or an additional supplement that will have to be paid.
For those seniors who purchase supplemental security insurance but do not need prescriptions filled, the government deems their condition eligible for premium cost stabilization. Unfortunately, these individuals have no real way to avoid paying the additional premium cost each year without sacrificing coverage. The only solution is to enroll in supplement plans such as part A and part B, regardless of health conditions. While these plans offer lower premiums than the regular insurance, it is still better to save the extra money every year and purchase the plan with full prescription coverage. Without the ability to purchase prescriptions without a prescription, you will be at risk for spending your savings on exorbitant medical bills that put you in debt.
Some seniors fall victim to the insurance late enrollment penalty because they did not qualify to begin insurance coverage at the normal age of 65. There are two different classifications for ages 65; active and inactive. Active age 65 enrollment allows an individual to enroll and get benefits without a prescription filled. Seniors who become disabled or cannot work after turning age 65 can also enroll and get coverage without a prescription. Unfortunately, many seniors fall into this category and find themselves subject to the insurance late enrollment penalty.
Avoiding Late Insurance Penalities
Another possibility of violating the late insurance enrollment penalties is when people do not pay their premiums on time. This is often the case with long-term care insurance policies. Unfortunately, insurance companies lose millions of dollars by requiring premium payments to be made late, so they sometimes resort to these types of tactics to try to collect the money. Some states offer incentive refunds for late payments, while others have increased penalties for repeat offenders.
Don’t Be Afraid To Fight Back If Your Medicare Benefits Are Denied
In addition to having their benefits denied for the first time, some seniors fall directly into the insurance late enrollment penalty because of improper enrollment. Perhaps a newly insured senior forget their monthly insurance part D payment or stops taking their medications. These are common problems.
Sometimes, the solution lies in contacting a trusted insurance representative and waiting until an official explanation is provided. Many people find that once they understand the mechanics of the insurance supplement plan, they usually forget about the late payment penalties. But, of course, the majority of individuals still have to pay the original insurance fee plus the late payment penalty.
Do Not Commit Medicare Fraud
The government realizes that some people try to take advantage of the system and commit medical fraud. As a result, various administrative solutions have been put into place to ensure these types of activities don’t occur. insurance supplement plan filing, which allows the public to obtain more complete and useful information about their insurance options, is one of those solutions. Other administrative solutions, such as the insurance eligibility center and insurance Discovery, also play a role in slowing down the insurance late enrollment penalties. If you believe you are facing a penalty, consult with an insurance supplement plan filing agency representative to discuss your options.