You’re over 65, have Medicare Part A for a while already, but you are covered through your (or your spouses) work plan, as an ACTIVE employee (and did not apply for Part B): (RETIRING)
- IF you HAVE coverage from an ACTIVE employer plan, on your own, or through your spouse, and you are eligible for Part B, then you may opt to apply for Medicare Part B at anytime.
- From Medicare’s website: https://www.ssa.gov/hlp/isba/10/hlp-med003-partb2.htmIf you are age 65 or older, you or your spouse are still working and you are covered under a group health plan based on that current employment, you may not need to apply for Medicare medical insurance (Part B) at age 65. You may qualify for a “Special Enrollment Period” (SEP) that will let you sign up for Part B:
- During any month you remain covered under the group health plan and your, or your spouse’s, current employment continues; or
- In the eight-month period that begins with the month after your group health plan coverage or the current employment it is based on ends, whichever comes first.
You are over 65, Have Medicare Part A already, but you are covered through your (or your spouses) RETIREE or COBRA plan:
- Note: COBRA and retiree health plans aren’t considered coverage based on current employment. If you have that type of coverage, you will not be eligible for a SEP when it ends. To avoid paying a higher premium, make sure you sign up for Medicare when you are first eligible.
What does that all mean? Well, if you are thinking about switching to Medicare, instead of the plan from work, and you have not already applied for Part B of Medicare, then you will need to know a few things.
If you are covered by a retiree plan, and don’t have Part B already, then you MAY find out that you have to wait until the Part B General Enrollment Period, which is January 1 through March 31. Your coverage begins on July 1 of the year you enroll. This is important to know, because you will want to make certain there are no GAPS in coverage.
But, if you are “retiring” from Active employment, and have Medicare Part A, then you’ll want to talk to your employer about the retirement plans available and if you will need to apply for Medicare Part B.
For more info on Medicare: https://www.ssa.gov/pubs/EN-05-10043.pdf
