Should you sign up for Medicare?
Signing up for Medicare is not a one size fits all. Some people will automatically be enrolled in Medicare 3 months before the month that they turn 65. Some people will need to sign up for Medicare on their own 3 months before the month they turn 65. Some people who have certain group health insurance plans either through their work or spouses work may choose to delay Part B of Medicare at 65 and apply for Part B later when they or their spouse retire. There are many scenarios available that will affect when people should sign up for Medicare.
Call 1-800-Medicare for details on your specific situation before making any decisions.
What is the Medicare Initial Enrollment Period?
This is the 7 month period when you are first eligible for Medicare when you turn 65:
- beginning 3 months before the month you are turning 65
- the actual month you do turn 65
- ending 3 months after the month you turned 65
- if you do not sign up during this period you may face a late enrollment penalty on you Part B premium
Who is automatically enrolled in Medicare?
- people who are already receiving Social Security benefits at least 4 months before their 65th birthday will automatically be enrolled for Medicare Parts A & B. Your coverage will have an effective date on the 1st of your birth month or if your actual birthday falls on the first of the month, your coverage will start the 1st of the prior month.
- You should receive your Medicare card by mail 3 months before you turn 65 (conventional wisdom says to give Medicare a call at least 3 month before you turn 65 just to make sure that your Medicare information is being processed)
What do you do if you are not automatically enrolled in Medicare?
- If you are not currently taking your Social Security benefits, you do not have any health insurance coverage, and you are in the Initial Enrollment Period, you will want to sign up for Medicare Parts A and B so that you will not have any premium penalties from Medicare later on.
- Enroll in Medicare online
- When you sign up you will have the option on whether you would like to take your Social Security benefits at 65 or delay them until a later time.
What do you do if you are not automatically enrolled in Medicare and you are covered by either your or your spouses employer insurance?
- 1st check with Human Resources (HR) at your or your spouses employer providing your health insurance to see what their protocol is once you are eligible for Medicare.
- Then contact Medicare to see how you should proceed on signing up for Medicare.
- If your employer has less than 20 employees you should sign up for Medicare Parts A & B when you are first eligible. (If you do not sign up during this Initial Enrollment Period, you will face late enrollment penalties)
- If your employer has 20 or more employees, ask your benefits manager if the plan meets the IRS qualifications for group health plan coverage. Under the group health plan coverage you may be able to delay Part B of Medicare and not have to pay the late enrollment penalty when you sign up for Part B later.
- Contact Medicare for information on what you should do if you have an HSA plan so that you can avoid any Medicare penalties (1-800-Medicare)
What are the three ways to sign up for Medicare?
- Online by clicking here
- Call the Social Security Office at 1-800-772-1213
- Schedule a face to face at your Social Security office