Updated: Mar 17
YOU DON’T HAVE TO SIGN UP FOR MEDICARE PART B WHEN YOU TURN 65 IF YOUR STILL WORKING
When you enroll in Medicare, Part A is generally available to most Americans at no cost if you or your spouse have worked 10 years or 40 quarters. When you sign up for Part B you will have a monthly premium which in 2020 is $144.60. For high wage earners, this cost can be higher. This cost is in addition to what ever premiums you pay for a Medicare Supplement, Medicare Advantage or Medicare RX plan.
If you work for a company that offers you Health Insurance past age 65, Medicare allows you to delay your Initial Enrollment Period. This can save you from having to pay both the cost of the employer health plan and Part B premiums. Once you choose to leave your employer, You can sign up during a Special Enrollment Period that begins the day you leave your job or lose your employer-sponsored health plan coverage, whichever comes first, and lasts for eight months. Sign up later than this, and you will be forced to pay those late penalties. There is an application that must be submitted to social security by you and your employer.
Contact Leslie S. McMillan if you would like someone that can assist you in enrolling in and evaluating your Medicare Supplement, Medicare RX Plan and Medicare Advantage options. Leslie S McMillan is certified to sell Medicare in NC.
Leslie S McMillan is Marketplace Elite Circle of Champions Health Insurance Broker, Certified to sell Healthcare .gov Health plans, Medicare Plans such as Medicare Supplements, Medicare RX plans and Medicare Advantage Plans, Short Term Medical Health plans, Accident and Life Insurance. She is available by phone or email to answer your questions. She is always "Bringing Clarity to Confusion". Reach out to her today.