The best time to sign up for Medicare is during your initial enrollment period. This window spans the seven months surrounding your 65th birthday, starting from three months before your birth month and through three months after. Signing up after your birth month could cause a lapse in coverage due to a brief waiting period, so even in your initial enrollment period, the earlier the better.
Can I Be Automatically Enrolled?
If you are already receiving social security benefits (and have been receiving them for at least four months) when you turn 65, you will automatically be enrolled. You will receive a packet in the mail with important information about your plan, along with your Original Medicare card. It will be up to you to make any changes at that point.
Should you choose to decline Part B coverage, add prescription drug (Part D) coverage, or switch to a Medicare Advantage plan, you can do all these in your initial enrollment period or wait until the next possible enrollment period.
If you are not receiving social security benefits, then it will be up to you to register as soon as you are able. You can apply for Medicare online or over the phone by contacting the Social Security offices.
What If I’m Still Working?
If you are still working at the age of 65, it is encouraged to still sign up for Part A coverage in your initial enrollment period. You will then have to add your Part B insurance within eight months of retirement to avoid paying penalties. However, you may continue your employer-sponsored health insurance until it is no longer available or until you leave your job. At this time, you may immediately enroll in Medicare during a Special Enrollment Period to avoid any late enrollment penalties.
Once you are enrolled in Original Medicare Parts A and B, you may add your Part D coverage for prescription drugs or switch to a Medicare Advantage plan if you prefer.
Want to Learn More? Give Us a Call Today
At Schwenker Insurance, we are committed to providing you with the best service and making sure your Medicare enrollment is as easy as possible. To learn more about the steps you can take to enroll in Medicare, call us today!
