I turn 65 soon. When should i sign up for medicare?

DO I QUALIFY FOR A MEDICARE SPECIAL ENROLLMENT PERIOD? You may not have to wait until the general enrollment period or pay a late enrollment penalty if you delay signing up for Medicare

because you or your spouse is still working and you have health insurance from that employer. The special enrollment period (SEP) allows you to sign up for Medicare Part B throughout the

time you have coverage from your own or your spouse’s employer and for up to eight months after the job or insurance ends, whichever occurs first. If you enroll at any point during this

time, your Medicare coverage will begin the first day of the following month. And you won’t be liable for late penalties, no matter how old you are when you finally sign up. Your decision

also depends on the size of your employer and whether the employer’s plan is first in line to pay your medical bills or second. LARGER COMPANIES. If you or your spouse works for a company

with 20 or more employees, you can delay signing up for Medicare until the employment ends or the coverage stops, whichever happens first. These large employers must offer you and your

spouse the same benefits they offer younger employees and their spouses, which means that the employer’s coverage can continue to be your primary coverage and pay your medical bills first.

Many people enroll in Medicare Part A at 65 even though they have employer coverage, because it’s free if they or their spouse has paid 40 or more quarters of Medicare taxes. But they often

delay signing up for Part B while they’re still working so they don’t have to pay premiums for both Medicare and the employer coverage. However, if you want to continue contributing pretax

dollars to a health savings account (HSA), you should wait to sign up, even for Part A. You can’t contribute to an HSA after you enroll in Medicare. SMALL BUSINESSES. If you or your spouse

works for a company with fewer than 20 employees, Medicare generally becomes the primary coverage at age 65 and the employer’s coverage becomes secondary. That means Medicare pays your

medical bills first and your company’s group plan pays only for services it covers but Medicare doesn’t. In this case, you usually need to sign up for Medicare during your IEP to avoid big

coverage gaps. LIVING ABROAD. The rules and issues to consider can be different if you’re living outside the United States. KEEP IN MIND PART C, MEDICARE ADVANTAGE. You also have the option

to enroll in a private Medicare Advantage plan during your IEP after you sign up for Part A and Part B. PART D PRESCRIPTION PLANS. The rules are different for prescription drug coverage. You

can sign up for private Part D coverage during your initial enrollment period, but you aren’t required to enroll if you have other prescription drug coverage that’s considered at least as

good as the Medicare-approved plans. This “creditable coverage” can be from a current employer, retiree coverage, Tricare or another source. You won’t be liable for Part D late enrollment

penalties if you sign up within 62 days of losing your other prescription coverage. Return to Medicare Q&A main page