As we near the age of 65 and realize we will be eligible for Medicare, many of us have anxiously asked ourselves this question, “Where do I start and what do I have to do?”. The information below is provided to assist you in knowing where to start and when. And remember, Longevity Alliance’s Health Advisors can provide clarity and direction at any point along your quest for information, just call us at 800-713-6250, ext 671.

If you have been receiving Social Security before you turned age 65, you will automatically be enrolled into Medicare and will receive your Medicare card before you reach 65 (usually about 3 months before). On your card you will notice your coverage for both Part A (hospital) and Part B (medical) beginning on a specific date (the first of the month in which you turn 65, for most people). If for some reason you do not want the Part B then it is important for you to notify Medicare to issue you a card without coverage for Part B. This could be important as you only are allowed one “open enrollment period” for Medicare Supplements which give you guaranteed issue rights for any Medigap plan sold by any company in your state.

If you have not been receiving Social Security prior to age 65 then you should enroll by calling or visiting your Social Security office. You may call 800-772-1213. If you qualify, you may also enroll online.https://secure.ssa.gov/apps6z/ISBA/main.html Though you can enroll 3 months before, during or within the 3 month after your 65th birthday month, it is advisable to enroll at the earliest date allowed.

Note about COBRA

COBRA (Consolidated Omnibus Budget Reconciliation Act of 1985) may allow you to temporarily keep health coverage from your or your spouse’s employer after the employment ends, or after you lose coverage as a dependent of the covered employee. If you elect to get COBRA coverage when your employer coverage ends, you should consider signing up for Part B at the same time because you won’t get a Special Enrollment Period when the COBRA coverage ends. You will have to sign up for Part B during the 8-month period that begins the month the employment ends or the coverage ends, whichever is first. If you don’t sign up for Part B during this 8-month period, you will only be able to sign up during the General Enrollment Period, and you may have to pay the late-enrollment penalty.

Medicare prescription drug coverage (Part D) works a little differently. For Part D, if your employer-sponsored creditable prescription drug coverage (including COBRA) ends, you have a Special Enrollment Period to join a Medicare drug plan without paying a penalty. Talk with your State Health Insurance Assistance Program (SHIP) to see if COBRA is a good choice for you. http://www.shipusa.org/Find_a_State_SHIP.html