What Happens at 65?

what happens at 65

As you approach retirement, you may be wondering what happens at 65. You can either get Original Medicare, which consists of three parts: Part A, Part B, and Part D, or opt for Medicare Advantage. If you haven’t tapped your Social Security benefits before age 65, you will be automatically enrolled in original Medicare. When you receive your Social Security check, you will see a reduction for the Part B premium. You’ll also receive a Medicare card in the mail. Find out – webnews21.com/6-important-things-to-learn-about-as-you-approach-65/

How to Prepare For It

You may decide to keep working, which will allow you to defer enrollment in Medicare Part B. This is a good idea if you can afford it, but you will probably end up paying higher premiums if you decide to enroll later. Before making this decision, sit down with your spouse and figure out the best strategy for both of you. If you’re still working, you might want to consider waiting until later, when special enrollment periods are offered.

If you’re still working, you can ignore the mandatory enrollment period and continue to be insured by your employer or spouse’s employer. In this case, you’ll qualify for a Special Enrollment Period. The deadline for enrolling in Medicare is usually March 31. You may not get coverage immediately, but you’ll be able to get coverage the month after you turn 65. If you decide to delay enrollment, you may end up paying a ten percent surcharge on your Medicare Part B premium.

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