07/28/2022
Did you just turn 65? Are you still working? Wondering about Medicare?
Question #1 from those turning 65 right now. Do I have to enroll in Medicare right now and what are my choices?
If you are 65 or older, you are entitled to Medicare part A and eligible for Medicare Part B. Depending on YOUR circumstances, you may not need to enroll in Medicare, but you should be aware of your choices just the same.
If you have creditable coverage and are covered by your or your spouse’s current group Health Insurance through work, you do not have to enroll in Medicare. If your employer has 20 or fewer employees, your employer can force you to enroll in Medicare and/or drop your coverage altogether once you turn 65.
If you are covered by your spouse’s insurance, many couples find it difficult to cover the younger spouse for a reasonable premium if they don’t have coverage at work.
You should know what Medicare covers when you compare your work insurance to Medicare. Medicare A and B cover hospitals and doctors. Group insurance typically includes prescription coverage as part of your maximum out of pocket. With Medicare, you must enroll in Part D to receive prescription drug coverage. This is not something that happens automatically unless you enroll in a Medicare Advantage Prescription Drug plan (part C.)
Do your homework to see if enrolling in Medicare once you turn 65 is right for you. Make sure you compare coverage, deductibles, and Rx coverage along with the maximum out of pocket to see what works best for you!
Feel free to contact us for more information about your situation. Y
