In most cases, if you don’t sign up for Medicare benefits when you are first eligible, you will have to pay a late enrollment penalty for as long as you have Part B. You may also have to wait for the next General Enrollment Period to sign up for Part B. (Usually, if you sign up during a Special Enrollment Period, you won’t have to pay a late enrollment penalty.)
If you don’t enroll in a Part D prescription drug plan when you first become eligible, or if you have a break in coverage of at least 63 consecutive days, Medicare may add a late enrollment penalty to your Part D plan premium.
If you have coverage through your employer and plan to work past age 65, ask your human resources administrator if you are required to sign up for Medicare right away. If you are not required to enroll upon turning 65, you can sign up for Medicare whenever your employer health coverage ends during a Special Enrollment Period. (If you plan to keep working past age 65, let us know.)
If you currently have health insurance through your employer, and you’re planning on working past age 65, let us know when you’d like us to reach out to discuss your Medicare options!