Medicare Part B Enrollment
Question:
Answer: Maybe.
If you have elected early Social Security retirement or have been on Social Security disability for less than 2 years you SHOULD be automatically enrolled in Medicare Part B at age 65. In this case the premium will be deducted monthly from your Social Security check. You still need to verify with Social Security that you are in fact enrolled in Medicare Part B because mistakes can happen.
If you were born after 1943, your full retirement age is later than age 65. Here is a link for more information about retirement age: http://www.socialsecurity.gov/retire2/agereduction.htm . You very likely may not be receiving Social Security.
If you are not receiving Social Security you will need to contact them and enroll in Medicare Part B – IF YOU NEED IT.
If you are employed by a company with 20 or more employees or are covered under an employed spouse and have health insurance through the employer’s group health plan, you may not need to enroll in Medicare Part B. This group insurance typically is PRIMARY to Medicare. Check with your HR department or the insurance company. When you leave this employer health plan you will have 8 months to enroll in Medicare Part B without a penalty.
If you are employed by a company with less than 20 employees or are covered under an employed spouse and have health insurance through the employer’s group health plan, you will need to enroll in Medicare Part B or receive a penalty should you enroll at a later time.
This group insurance typically is SECONDARY to Medicare. In many cases you will have better benefits at a lower cost if you drop the employer group health plan and use original Medicare with a Medicare Supplement. Social Security will bill you quarterly for the Medicare Part B premiums.
Should you fail to enroll in Medicare Part B during your initial enrollment period (3 months prior to and 3 months after your 65th birthday) or during your special enrollment period after leaving qualified group health coverage (within 8 months after coverage ends) you may only enroll in Medicare Part B during annual enrollment (January through March each year) and your part B coverage will begin the following July. You will also be assessed a premium penalty based on the length of time you have been eligible but without Medicare Part B.
It is VERY important to make sure your Medicare coverage is correct. At age 65 you will receive an approval letter and a Medicare card whether you enroll in Medicare Part B or not (in most cases). Most people get Medicare Part A automatically at age 65 without premium. Check your approval letter for accuracy of coverage and check your Medicare card for accuracy. Make corrections immediately.
For answers to your Medicare Questions or to request a quote on a Texas Medicare Supplement or Part D Drug Plan visit www.MedicareAnswersfromConnie.com .
