Contrary to popular belief, Medicare isnt free.
Monthly premiums, copays and yearly deductibles add up quickly not to mention out-of-pocket costs on prescription drugs.
Navigating Medicares complex system by yourself can be overwhelming.
Need a refresher on Medicare? Check out theseseven FAQs about Medicare and open enrollment.
It feels easier to just stick with your current plan and hope for the best.
But staying put can mean losing out on huge savings potentially thousands of dollars a year.
What Is the State Health Insurance Assistance Program?
Probably not as good as youd like.
It always seems like an uphill battle to build (and keep) a decent amount in savings.
But what if your car breaks down, or you have a sudden medical bill?
Each state uses federal grant money to administer its own SHIP.
A SHIP volunteer will never give a shot to sell you anything.
Theres no income or wealth restrictions either.
Anyone can use the program, free of charge.
How Can SHIP Counselors Help Me?
Its a great time to compare plans and ensure youre not overpaying for health care.
Not shopping around at least once a year can mean overspending on Medicare, experts say.
How much can you really save using SHIP?
The wife was almost in tears, she was so happy.
What Else Does SHIP Do?
SHIPs generally offer a mix of in-person and over-the-phone assistance.
Members of the public could interact with experts and get their Medicare questions answered in real-time.
Theres also theExtra Helpprogram, which helps substantially lower prescription drug costs.
They can even help you with the utility process.
Rachel Christian is a Certified Educator in Personal Finance and a senior writer for The Penny Hoarder.
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