With so much confusion swirling around Medicare, many people find themselves asking, “What age for Medicare?”
We are all required to sign up for Medicare and age is important.
What Age Do I Need To Be To Sign Up For Medicare?
You have 7 months in which to sign up for Medicare. If you don’t you may suffer lifetime penalties resulting in higher premiums.
Enrollment periods are the three months prior to your 65th birthday month. The second period is the month of your 65th birthday. And the third period is the 3 months following your birthday month.
Medicare is required. It is not an option. Sign up on time will ensure you avoid penalities and higher lifetime premiums.
For example. I would be required to sign up for Medicare during the months of Jan – July in the year I turn 65 because I was born in April. Three months before my birthday month, during my birthday month or three months after my birthday month.
Are There Any Exceptions To This Age For Medicare?
Of course there are.
If you have medical insurance through an employer when you turn age 65, you may be eligible to delay signing up for medicare with no penalty.
To see if you qualify to delay signing up for Medicare with no penalties, contact one of our experienced Medicare specialists at Walter and Walter Insurance or contact the Social Security office.
Prior to the age of 65, if you tapped into your Social Security, you will be automatically enrolled in Medicare. You will also receive your Medicare card in the mail with nothing else to do (unless you live in Puerto Rico).
If you haven’t tapped into your Social Security prior to age 65, you are responsible for signing up for Medicare. Automatic enrollment will not happen.
If you’re responsible for signing up for Medicare, please do not put off signing up. Life-long penalties may result. It isn’t worth the price.
Mark your calendar, share this information with family and friends celebrating their 65th birthday this year.
Be proactive about Medicare, it’s in your best interest.
Penalties If You Don’t Enroll
If you fail to sign up for Medicare Part B during the 7 month window of your 65th birthday, you face penalties. Penalties may be as high as 10% for each year you should have been enrolled.
Penalties will be added to your premium and will be a life-long. This means you will pay this penalty for the life of your Medicare Part B policy.
For Part D Medicare coverage, if you do not sign up during your eligible period, you may be penalized 1% for each month you do not sign up. Penalties will be added to your premium. Penalties will be for the life of your Medicare Part D premiums.
There is one exception to this Part D penalty. If you are working and have medical coverage through and employer. You may be eligible to sign up for Medicare Part D at a later time.
Danielle Roberts, co-founder of insurance firm Boomer Benefits in Fort Worth, Texas says,
“We advise people even if they don’t take medicine right now, at least sign up for the cheapest drug plan just so you don’t face a penalty. And if something bad happens, you’re making sure you aren’t caught with no coverage.”
How Do You Sign Up For Medicare?
There are 4 ways you can sign up for Medicare:
- Online at www.SocialSecurity.gov.
- By calling Social Security at 1-800-772-1213 (TTY users 1-800-325-0778), Monday through Friday, from 7AM to 7PM.
- In-person at your local Social Security office.
- By phone or in-person at Walter and Walter Insurance Company.
If you’d like to speak to a knowledgeable Medicare professional right away, call Walter and Walter Insurance at (540) 662-1212. When you call, a live person will get on the phone with you right away.
Do not be overwhelmed or confused about Medicare and don’t worry about how to sign up. Our team at Walter and Walter Insurance has trained experts willing to talk with you.
We have experts ready to sit down with you. Answering your Medicare questions is our priority.
There will be no more confusion, no more fears, and no more uncertainty about Medicare.
At Walter and Walter Insurance Company, we will patiently walk you through the process. Step by step we will be with you until you are fully satisfied and completely at peace. Give us a chance to help you make sense of Medicare as you turn 65.
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