Medicare Questions & Answers: Turning 65

Turning 65 Q&A

Showing 5 questions

Answered by Larry Dalton Medicare Insurance Agent

Larry Dalton

D&D Ins. Group, LLC • Durant, OK

I'm turning 65 next month; what are the first steps I should take regarding Medicare enrollment?

First, file for Medicare Part A and Part B if you’re no longer on a company group insurance plan and continue to work past 65. If you are not on a group plan past 65 that Medicare recognizes, you must file for Medicare Part D if you don’t go with the Medicare Part C Advantage plan with built-in Medicare Part D drugs. Confusing? Contact an agent, and they should be able to explain these in detail.
Answered by Luis Daza Medicare Insurance Agent

Luis Daza

medicare strategies consulting • Tampa, FL

Will I be penalized if I do not enroll in Medicare when I turn 65?

Yes, you may be penalized in two ways or reasons. If you don't have credible health insurance coverage, you will be punished for not having Part B once you turn 65; this is called the Part B enrollment penalty, applicable if you don't have credible health insurance in place. Second, you will be penalized if you don't have credible health insurance with prescription drug coverage in place by the time you qualify for Medicare. You must pay these penalties each month for the rest of your life.
Answered by Chad Cason Medicare Insurance Agent

Chad Cason

Lifelong Insurance Agency • Madison, GA

If a senior is turning 65 but still working, should they enroll in Medicare or delay it?

If you have employer-based health insurance through your or a spouse's current employment, where there are more than 20 employees, and you're happy with the costs, such as monthly deductions/premiums and coverage, like potential out-of-pocket costs, you can delay Medicare enrollment without accruing penalties. If this is you, it's best to schedule a quick call so we can discuss your situation. Chad
Answered by Brian Moore Medicare Insurance Agent

Brian Moore

Ohio Medicare Plan • Dayton, OH

I'm turning 65 soon, when can I enroll in Medicare?

When clients ask about enrolling in Medicare at 65, I explain the Initial Enrollment Period (IEP) covers three months before their birthday month, the month itself, and three months after. It’s a straightforward seven-month window.
Answered by Joseph Bachmeier Medicare Insurance Agent

Joseph Bachmeier

BGA Insurance Group • Conshohocken, PA

Why do so many seniors wait until the last minute to enroll in Medicare, and how can agents help prevent bad decisions?

When new Medicare prospects call me, I advise them to sign up for Medicare Part B two months before their start date, so it leaves plenty of time to generate a Medicare number and start date.