Turning 65 means different things to many people, some of are still working with Employer Group Coverage. Others have retired early & have taken the Employer Group Coverage with them. One thing everyone has in common that is Turning 65, is the ability to enroll into Part A and perhaps into Part B. (There are circumstances in which you can enroll into Medicare previous to age 65 – to be discussed at another time). Here are some simple rules for enrollment:
1. If you are NOT receiving Social Security or Railroad Retirement Benefits, & you want Medicare Part A &/or Part B, you will need to enroll yourself. You can go online to: www.medicare.gov or visit your local Social Security Office or your local Railroad Retirement Board.
2. If you ARE receiving Social Security or Railroad Retirement Benefits, you will be enrolled automatically into Medicare Part A & Part B. In most cases, you will get Part A & Part B starting the first day of the month you turn 65.
3. If you ARE receiving Social Security or Railroad Retirement Benefits & have Employer Group Insurance through yourself or a spouse, contact your Employer Group Representative to find out how your plan will coordinate with Medicare. Depending on your Employer’s number of employees, will determine how pays first, your group insurance or Medicare. You may want to “Opt-Out” of Medicare Part B – you will be saving the Part B Premium - but beware – this may result in a penalty in the future. *Special rules & enrollment periods apply