Your first step is to start your Original Medicare. That includes Part A & Part B from the federal government. Sign up at your local Social Security office or online at ssa.gov.
Start planning your Medicare coverage three months before you turn sixty-five or are getting ready to retire.
If you are still working and have coverage through an employer, you may delay your Medicare Part B. Call us for more information.
In this case, you can switch to Medicare anytime you want, but no more than 63 days after leaving your Employer Group health plan and/or active employment.
You may or may not have to sign up for Part B:
- If you are currently drawing Social Security benefits, you will be automatically enrolled in Part B upon turning 65 and should get your card in the mail. You Part B premium will be subtracted from your benefits before they are deposited in your account.
- If you are not drawing Social Security benefits, you need to sign up for Part B. Together, we can determine when to sign up based on your election period and provide the forms that Social Security will require.
Original Medicare does not cover everything. Once you get Part B, we can help you shop plan additional options.
Part A covers inpatient hospital room & board. This is the part of Medicare you are entitled to because you paid into it while you worked. If you have worked 40 quarters (or 10 years) you have earned premium-free Part A.
Part B covers medical expenses which include doctors services, diagnostics, medical equipment, etc. You pay a monthly premium to Social Security. In 2020 it is $144.60 per month.
If you have a higher income in the last two years, you might have to pay a higher premium for Part B (and Part D) called the Income Related Monthly Adjustment Amount (IRMAA.) We can help determine the amount.