03/15/2024
Are you working past 65? Should you take Medicare? What about the penalties?
Traditional Medicare is made up of two parts. Part A (Hospital) and Part B (Doctor). For most people you will have to enroll in both when you are 1st eligible to avoid life long penalties.
There is something called Part B late enrollment Penalty, this is a 10% penalty that gets added on for each you you could have signed up for part B, but didn't. If you are someone that does not have another health insurance plan or have a marketplace , Cobra or Tricare for life that you likely need to enroll to avoid these penalties.
However, if you are still actively working and have health insurance or through a spouse plan who is actively employed, then you likely can delay Medicare without a penalty.
If your employer has less than 20 employees than keep in mind, you should still enroll in Medicare Part B to avoid claims issues.
For more information or information detailed to your situation, please contact us for your free unbiased information.
