On this blog, I am working my way through the how-tos and why-nots of making Medicare Part C and Part D changes for 2015. My first posts on this how-to and why-not are here, here, here, here and here.
But there's one "what-not-to-do" that cannot wait even though it comes as one of the last steps in the Medicare Part D vs. Part C decision-making process... after you've picked with way you are going to go (managed vs. unmanaged care), and compared the various plans in your area, and are about to enroll (see image above). That warning is:
"Do Not Choose Direct Withdrawal from Social Security to Pay for Either Your Part C or Part D Plan."
If you have already done this, call your insurer as soon as you get their "Thanks for Enrolling" package and change the option. And if the package is delayed, call your insurance company anyways... no later than around Thanksgiving.
You do not want Social Security direct withdrawal in 2015 because odds are you will change your plan next year... because it is almost always worth changing your plan financially. And the problem with direct withdrawal is that even though you change your plan, the Social Security Administration keeps taking money from your SS "check" and giving it to your old insurance company for a few months after you changed your plan.
You'll eventually get the double payment back but why loan money to the government. Tell the Part D or Part C insurer -- whichever way you decide to go -- to mail you or email you a bill.
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