If you choose not to enroll in Medicare when you turn 65 there are some things you should know. First, it can cost you a lot of money if you actually do need medical care. The fact is that you won’t really be financially penalized my the insurance itself, but you won’t receive priority on your application process. That means that you could be uncovered for a certain amount of time, and if you do need help it could be expensive. That is why delaying your Medicare enrollment can cost you.
Many people make the mistake of thinking that because they are healthy now, they always will be. You can’t just expect that when you need medical care you can just apply for Medicare and get it right at that moment. In fact there is usually up to a 6 month waiting period for people who chose to wait. Delaying your Medicare enrollment can cost you, which is why you need to be proactive and get things done immediately. Think about your future health as a concern, even if it isn’t presently.
Now that you know that delaying your Medicare enrollment can cost you substantially you can go further and set yourself up for future coverage. When you do get enrolled you should look at your policy carefully and see where the potential weaknesses are. Once you have done that you can then make an educated guess about how much supplemental insurance you may need in the future. Remember that a persons health can change greatly in a little bit of time, which is why you must plan ahead.