Medicare Myths vs. Reality: What You Need to Know Before Open Enrollment
KF Wealth & Education Group
Dr. Kaylor Paraskevopoulos
Think Medicare is free? That it covers everything? Think again. With open enrollment starting October 15, now's the time to separate fact from fiction.
The Biggest Medicare Myths
Myth: Medicare is free.
Reality: Part A may have no premium, but Part B has a monthly premium (around $175+), and you'll pay out-of-pocket costs too.
Myth: Medicare covers everything.
Reality: Dental, vision, and hearing aren't covered under Original Medicare. That's why many people get supplemental coverage.
Myth: You can wait to enroll.
Reality: Miss your enrollment window, and you'll pay penalties for life.
Key Dates You Can't Miss
Open enrollment for 2026 Medicare plans, also known as the Annual Enrollment Period (AEP), runs from October 15 to December 7. Changes take effect January 1st.
Before You Meet With an Agent, Ask Yourself
- What doctors and medications do I need covered?
- Is prescription drug coverage my priority, or dental and vision?
- How much can I afford for monthly premiums and out-of-pocket costs?
- Do I prefer flexibility in choosing doctors, or am I okay with a network?
Do Your Research First
Medicare.gov's Plan Finder tool helps you understand your Medicare health insurance options, find the best health insurance plan possible and sign up. You can see exactly what drugs are covered and what you'd pay for each one. You can also call 1-800-Medicare for free assistance 24/7.
Get Personalized Guidance
There's no one-size-fits-all Medicare plan. Your best choice depends on your health needs, medications, and budget. That's where a conversation with an insurance professional comes in—but you'll get so much more out of that appointment when you've done your homework first.
Ready to talk through your Medicare options? Book an appointment with me to get personalized guidance based on your health needs and budget.
References
- Centers for Medicare & Medicaid Services. (2026). Medicare open enrollment 2026: What you need to know. Retrieved from Medicare.gov
- Raymond James. (2025). Dispelling Medicare misconceptions. Retrieved from Raymond James
- The Motley Fool. (2016). The 7 most common Medicare myths. Retrieved from The Motley Fool
- U.S. Department of Health & Human Services. (2025). How to use the Medicare.gov Plan Finder. Medicare.gov. Retrieved from Medicare.gov Plan Compare