We’re not too far away from the annual Medicare Open Enrollment period, and Medicare advertising scams will be increasing. Promises of free dental and vision, gym memberships, rides to the doctor for no-charge…the list goes on and on. Unfortunately, some of the people who are the most misleading are ex-athletes or aging celebrities.
Not everything they say is a lie. It’s what they don’t tell you that can hurt you. Perhaps the biggest con is when insurance companies tell you that you won’t pay anything if you buy a Medicare Advantage plan. You will still pay for Medicare Part B, and any copayments, deductibles, or coinsurance that the plan requires.
Medicare Advantage plans are not free.
My father always said, “There is no such thing as a free lunch.” I say, “There is no such thing as free health insurance.” It may be zero premium, but it’s not zero cost. You will pay when you use it.
Medicare Advertising Scams: The Small Print
Have you noticed that at the end of the Medicare supplement television commercials there is a lot of small print at the bottom of the screen? It’s so small and is flashed for such a short time that it’s impossible to read. That’s no accident. The Medicare supplement company that made that commercial put that small print there for one reason: they’re required by law to do so.
Radio commercials for Medicare supplements can be equally misleading. The announcer reads the small print so fast you can barely make out a word they’re saying.
Bring advertisements – no better. More small print. Who reads the small print? Not many people do. It’s unfortunate, but that’s how you get scammed and surprised when your policy takes effect. It’s a shame,, but that application you signed is a legal and binding contract.
These ads are misleading, but are they scams? I believe so. Any time a company trying to sell you something is misleading or untruthful with you, they’re scamming you. There’s no other way to put it.
So, take your time when buying a Medicare supplement or Advantage plan. Read the fine print and ask plenty of questions. Medicare mistakes can be costly – be alert for Medicare advertising scams.
