5 Medicare Myths That Just Will Not Go Away

Medicare myths spread fast, usually because they used to be half-true, or true for a different situation than the one someone is actually in. Here are five that come up constantly.

Myth 1: "Medicare Is Free"

Part A is usually premium-free if you or a spouse paid Medicare taxes for at least 10 years, but Part B has a standard monthly premium, and most people also pay for Part D drug coverage or a Medicare Advantage plan. There are also deductibles and coinsurance to plan for.

Myth 2: "I Do Not Need to Sign Up if I Am Still Healthy"

Skipping Part B or Part D when you are first eligible, without other qualifying coverage, can trigger permanent late enrollment penalties added to your premium for the rest of your life. Being healthy today does not protect you from that.

Myth 3: "All Medigap Plans Labeled the Same Letter Are Identical"

This one is actually true for benefits — a Plan G from any company covers the same standardized benefits as a Plan G from any other company. What is not the same is the premium, the rate increase history, and the customer service. Shopping around within the same lettered plan can save real money.

Myth 4: "Medicare Covers Long-Term Nursing Home Care"

Medicare covers short-term, medically necessary skilled nursing care after a qualifying hospital stay — not long-term custodial care for daily living help. This is one of the most financially significant misunderstandings people have about Medicare.

Myth 5: "I Can Switch Medicare Advantage Plans Anytime"

Outside of the Annual Enrollment Period (Oct 15–Dec 7) and the Medicare Advantage Open Enrollment Period (Jan 1–Mar 31), you generally cannot switch plans unless you qualify for a Special Enrollment Period tied to a specific life event.

Understanding which of these apply to your situation, rather than relying on general assumptions, is exactly what a conversation with a licensed independent agent is for.