*This is Part 2 in a 3-part series designed for people going on Medicare or turning 65. Please contact us if you have any questions about this information or fill out a quotes request if you want to get Medigap quotes.*
So, in yesterday’s article, we went over some of the basic terminology associated with Medicare, including the parts of Medicare which are very crucial to understanding what Medicare covers and how it works. Today, we will discuss actually signing up for Medicare – how to do it and when to do it.
First of all, when should you sign up for Medicare? Most people get Medicare due to turning 65 – the exception would be if you receive Medicare due to a disability. Part A (hospital/inpatient coverage) you receive automatically – for Part B, you have the option of taking it when first eligible or postponing it. If you are working and covered through an employer group plan, it is often to your advantage to postpone taking Part B. You should always confirm this with your insurance administrator/HR at your employer, but often, paying for Part B (which as we discussed yesterday is approximately $105/month) is a duplication of the coverage you are receiving through your employer. You can always add Part B later as long as you are covered by the employer coverage, such as when that coverage ends (i.e. retirement or loss of benefits).
If you are not covered by a group plan when you turn 65, you will want to take Parts A & B when first eligible. Medicare always starts on the 1st day of the month that you were born (unless you were born on the 1st of a month in which case it starts on the 1st of the preceding month).
The “how” of signing up for Medicare is pretty straight-forward. First of all, if you are already receiving Social Security at the time you turn 65, you will get Medicare automatically (both Part A & B). You should receive your card approximately 2-3 months in advance of your Medicare start date. If you have not received it by two months before your Medicare should start, I recommend contacting Medicare or going to a local Social Security office.
If you are NOT already receiving Social Security, you should plan to contact Social Security 2-3 months in advance of your eligibility date to sign up for Medicare. You can do this by following the previous link or visiting a local Social Security office. If still working, you can decide through consultation with your employer (if still working) if you are going to take Part B when you are eligible.
This article is intended to help with knowing when and how to sign up for Medicare. If you still have questions, feel free to contact us. Tomorrow, we will discuss additional coverages that you will be considering such as Medigap, Medicare Advantage and Part D.
Medigap-Quote.com is one of the nation’s leading independent brokers of Medigap plans. We work with 30+ companies in 40+ states and work exclusively with this type of insurance. As a result, we can provide unbiased, experienced expertise to those going on Medicare and turning 65. Feel free to contact us or request Medigap quotes online.