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Re: Nukemtiltheyglow post# 101060

Sunday, 02/26/2017 1:05:30 PM

Sunday, February 26, 2017 1:05:30 PM

Post# of 447398
Nuke, I sure hope you just recently turned 65 - if you delay enrolling in Medicare at age 65, you might have to pay a penalty for the rest of your life - looks like you might be able to avoid the Part A or maybe Part B penalty, the latter of which is very severe if you delay enrolling well past age 65 (see 2nd link below). Part A is hospital costs (free), Part B is services like lab tests and doctor visits (~$116/mo), and you are eligible even if still working because you're not covered by employer provided health insurance. You can also sign up for Part D and hopefully get your V scrip covered - search your state plans at Medicare.gov, create an account, then start looking around. But sign up for Medicare ASAP!

https://www.medicare.gov/sign-up-change-plans/get-parts-a-and-b/when-sign-up-parts-a-and-b/when-sign-up-parts-a-and-b.html

When you first get Medicare

When you're first eligible for Medicare, you have a 7-month Initial Enrollment Period to sign up for Part A and/or Part B.
Example

For example, if you're eligible for Medicare when you turn 65, you can sign up during the 7-month period that:

Begins 3 months before the month you turn 65
Includes the month you turn 65
Ends 3 months after the month you turn 65

Note

You can sign up for free Part A (if you’re eligible) any time during or after your Initial Enrollment Period starts. Your coverage start date will depend on when you sign up. If you have to buy Part A and/or Part B, you can only sign up during a valid enrollment period.

In most cases, if you don’t sign up for Medicare Part B when you’re first eligible, you’ll have to pay a late enrollment penalty. You'll have to pay this penalty for as long as you have Part B and could have a gap in your health coverage.

Find out when you're eligible for Medicare.

Between January 1–March 31 each year

You can sign up for Part A and/or Part B during the General Enrollment Period between January 1–March 31 each year if both of these apply:

You didn't sign up when you were first eligible.
You aren’t eligible for a Special Enrollment Period (see below).

You must pay premiums for Part A and/or Part B. Your coverage will start July 1. You may have to pay a higher premium for late enrollment in Part A and/or a higher premium for late enrollment in Part B.




https://www.medicare.gov/your-medicare-costs/part-b-costs/penalty/part-b-late-enrollment-penalty.html

Part B late enrollment penalty

In most cases, if you don't sign up for Part B when you're first eligible, you'll have to pay a late enrollment penalty. You'll have to pay this penalty for as long as you have Part B. Your monthly premium for Part B may go up 10% for each full 12-month period that you could have had Part B, but didn't sign up for it. Also, you may have to wait until the General Enrollment Period (from January 1 to March 31) to enroll in Part B. Coverage will start July 1 of that year.

Usually, you don't pay a late enrollment penalty if you meet certain conditions that allow you to sign up for Part B during a Special Enrollment Period.

If you have limited income and resources, your state may help you pay for Part A, and/or Part B. You may also qualify for Extra Help to pay for your Medicare prescription drug coverage.
Example

Your Initial Enrollment Period ended September 30, 2009. You waited to sign up for Part B until the General Enrollment Period in March 2012. Your Part B premium penalty is 20%. (While you waited a total of 30 months to sign up, this included only 2 full 12-month periods.) You’ll have to pay this penalty for as long as you have Part B.



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