How Social Security and Medicare Work Together

I read an informative AARP article by Stan Hinden and I thought I’d share the web link below. The article gives a nice overview of how Social Security and Medicare work together.

One question I seem to get a lot is pasted below. He answered this question in his article.


"Q. When's the right time to apply for Medicare?

A. Medicare generally advises you to apply for coverage during the three months before you turn 65, to ensure it will start in your birthday month. But the full Medicare initial enrollment period lasts for seven months: the three months before the month in which your 65th birthday falls, your birthday month, and the three months afterward. You're free to apply at any time during that period.

If you delay, you may face higher premiums for the rest of your life — 10 percent higher for Part B for every 12 months that you could have had coverage but didn't. But there are important exceptions. If on turning 65 you or your spouse is working for a company with 20 or more employees that covers you under a group health plan, you don't have to enroll in Medicare at that time. You can wait until you stop working or otherwise lose that insurance, and you won't be charged a late enrollment penalty.”1

1. Source: AARP article by Stan Hinden

Click web link below to read entire article:

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