Are You Turning 65?
Let me help you with your Medicare!
Medicare is the U.S. government's largest health insurance program serving more than 57 million people. It is run by the Centers for Medicare and Medicaid Services (CMS), part of the U.S. Department of Health and Human Services.
- For people who are turning 65 or older
- For people under 65 with disabilities and people with End-Stage Renal Disease (ESRD) or Amyotrophic Lateral Sclerosis (Lou Gehrig's disease)
Medicare has four parts.
Medicare Part A is FREE (for most people) at age 65. It is at no cost to you if you have worked at least 40 quarters (10 years) in the United States as an eligible American citizen or permanent resident.
ARE YOU ELIGIBLE TO SIGN UP WITH MEDICARE?
1) At age 65, you may be eligible for Medicare Parts A and B, even if you still work
2) You may be eligible for premium-free Medicare Part A through your spouse, although you still must qualify by age or disability.
3) You may also be eligible for Medicare Parts A and B if you're under 65 and have a disability.
Check this website if you are eligible to enroll.
IS IT MANDATORY TO SIGN UP FOR MEDICARE AT AGE 65?
It is mandatory to sign up for Medicare Part A and/or Part B once you sign up with Social Security.
QUESTIONS | YES | NO |
| 1) Are you retired? | Then you have to sign up for Medicare. Retirees that don't sign up for Medicare can suffer late penalties, delayed coverage or loss of Social Security benefits. | See Q3 |
| 2) Do you have a retiree health plan provided by a former employer? | Then you have to sign up for Medicare. Medicare is primary to health plans. If you don't enroll, you may be penalized for not signing up on time. Medicare and retiree health plans work well together and provide substantial coverage. | See Q3 |
| 3) Are you still working? | Then, how many employees does the company that you work for have? If it is less than 20, then you will need to sign up for Medicare as soon as you're eligible. If it is more than 20 employees, then you have options to delay enrolment. | See Q1 |
AVOID LATE PENALTIES
The initial enrollment period (IEP) begins three months before the month you turn 65. It includes your birthday month and extends three months after, for a total of seven months.
Example: BIRTHDAY - September 8, 1955
| 7-month Initial Enrollment Period June-July-Aug2020 Sept2020 Oct-Nov-Dec2020 (3 months before) (65th birthday) (3 months after) |
If you do not have a creditable employer health plan coverage, you will be penalized for not signing up for Medicare at age 65. You can delay enrollment with Medicare if you have creditable employer coverage.
If you incur a late penalty, it will be added onto your Medicare monthly premium when you enroll and it will stay in force as long as you continue to be enrolled in Medicare.
