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Medicare Moments If I’m still working at 65, should I enroll in Medicare? Did you know that even though most people automatically qualify for premium-free Medicare Part A (hospital insurance) and Medicare Part B when they turn 65, many people delay enrolling in Medicare Part B during their Initial Enrollment Period, even if they’re still working and covered by an employer’s group health insurance plan (yours or your spouses)? What if I delay my enrollment? If you don’t sign up for Medicare when you’re first eligible and don’t have coverage based on current employment (yours or your spouse’s) you may have to pay a late-enrollment penalty later. Things to Consider: You may delay enrolling in Part B but should only do so if your (or your spouse’s) job-based insurance would be the primary payer. If your employer has more than 20 employees, Medicare is secondary, but it may still help pay for some of the costs not covered by your employer’s insurance. If your employer has fewer than 20 employees, your job-based insurance by itself may not provide sufficient coverage. In this case, enrolling in Part B would help you avoid incurring unnecessary high costs for your health care. If you decide to wait until your (or your spouse’s) job-based insurance comes to an end before enrolling in Medicare Part A and/or Part B, you will have an 8-month Special Enrollment Period to sign up that starts once you stop working or your group health insurance coverage ends. You are still able to enroll any time while you are still working. What if I have a Disability when I turn 65? If you are receiving Social Security disability benefits when you turn 65, have kidney failure (End-Stage Renal Disease) or Lou Gehrig’s Disease ALS), you will be automatically enrolled in both Part A and Part B. To talk to a SHINE Medicare Counselor, call the Elder Helpline 866-467-4624 SHINE is a program of the Florida Department of Elder Affairs and is offered locally by Advantage Aging Solutions.
SHINE provides free and unbiased health insurance counseling through a network of volunteers; empowering Florida seniors to make informed health choices. |
