Informative WSJ article by Andy Landis about when to enroll in Medicare, the pitfalls and penalties of enrolling late, options to enroll if you are still employed and more.
Did you know you can postpone Medicare until after age 65 if you have health insurance from your current work? Your work health insurance must be based on your own current work or spouse’s current work. It can not be based on COBRA or retiree health insurance.
If you meet those requirements you can delay Medicare enrollment without penalties for late filing:
- You may enroll at any time while covered by the employer's health plan.
- You may enroll during the eight-month period starting with the month employment ends, or the month your work insurance ends, whichever comes first.
- If you enroll in month one, the month of termination, your Medicare coverage starts the first day of that month
- If you enroll after the month of termination, in months two through eight, your Medicare coverage is delayed until the month after you enroll. This could cause a gap in coverage.
- You must prove your employer coverage with a letter from your employer.
The original web link to article is no longer accessible, but I listed as the original source below anyway.
Source: http://www.marketwatch.com/story/medicare-when-to-enroll-2013-03-20
Click link below to read more about enrolling in another related blog post:
Medicare – What Do I Need To Do To Enroll?
Note: Medicare Insurance information can be overwhelming and confusing to many people. As an independent licensed agent I can explain things to you in simple terms so you feel comfortable making a decision. Then I can help you choose and enroll in a plan that you feel fits your needs.
By the way, it doesn’t cost you any more if you enroll in a Medicare Insurance plan through me as an independent agent versus directly with an insurance company either over the phone or via the Internet, since I get paid by the insurance companies for your enrollment. Plus you will have personalized service by a local agent. If you would like my assistance, please call me at 941-404-5334.
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