11 Costly Medicare Mistakes to Avoid | Own Your Retirement Ep 80

Medicare mistakes can be expensive—and some can follow you for years. In this episode of Own Your Retirement, Albert Lalonde breaks down 11 costly Medicare mistakes retirees and pre-retirees should watch for. From missing enrollment deadlines and choosing the wrong Part D plan to triggering higher Medicare premiums through income-related surcharges, Albert explains where careful planning can make a meaningful difference. You’ll learn why it’s important to review prescription drug coverage every year, understand Medicare Advantage networks, choose Medigap coverage carefully, coordinate Medicare with employer coverage and HSAs, and pay attention to how retirement income decisions may affect future Medicare premiums. Timestamps: 00:00 Introduction 02:42 Mistake #1: Not Reviewing Your Part D Plan Each Year 04:13 Mistake #2: Choosing the Same Part D Plan as Your Spouse 05:57 Mistake #3: Going Out of Network With Medicare Advantage 07:35 Mistake #4: Assuming You Can’t Switch Plans Midyear 08:23 Mistake #5: Choosing the Wrong Medigap Plan 09:45 Mistake #6: Missing Your Initial Medicare Enrollment Window 12:00 Mistake #7: Relying on COBRA or Retiree Coverage After 65 13:08 Mistake #8: Missing the Part B Deadline After Leaving a Job 14:34 Mistake #9: Increasing Medicare Premiums Through Higher Income 17:34 Mistake #10: Not Appealing an IRMAA Surcharge After Retirement 18:42 Mistake #11: Enrolling in Medicare While Contributing to an HSA 20:42 How to Avoid Costly Medicare Mistakes 22:05 Final Thoughts and Closing 📞 Have questions? Need advice? Contact Albert Lalonde at Kaizen Financial Group to set up a consultation today! 👉 Call us at 586-752-7008 👉 Visit us at kaizenfinancialinc.com Don't forget to subscribe to our YouTube channel for more financial tips and insights! Let us know your thoughts on the topics discussed or give us any feedback to make the future episodes better! #FinancialPlanning #RetirementPlanning #WealthManagement #EstatePlanning #LegacyPlanning #FinancialAdvice #FinancialEducation #MoneyManagement #InvestmentStrategies #Trusts #Wills #Probate #FinancialAdvisor #Retirement #Taxes #Inheritance #IRA #LifeInsurance #FamilyLegacy #FinancialSecurity #FuturePlanning #retirement #retirementplanning #SocialSecurity #michigan #detroit #shelbytownship #KaizenFinancialInc #AlbertLalonde #OwnYourRetirement #TaxPlanning #TaxCutsAndJobsAct