Is Your 65th Birthday Approaching? Key points for Medicare

Here are some key points to know about signing up for Medicare

1. Initial Enrollment Period (IEP):

   • Most people sign up for Part A (hospital insurance) and Part B (medical insurance) when they turn 65.
   • It’s crucial to sign up promptly during this period to avoid gaps in coverage or late enrollment penalties.
   • If you’re already covered through an employer group health plan, you might consider delaying Part B enrollment.
   • If you receive Social Security benefits and are 65 or older, you’ll be automatically enrolled in Part A.

2. Special Enrollment Period (SEP):

   • If you’ve been covered by an employer group health plan after turning 65, you have a special window to sign up for Part B without penalties.
   • You can enroll:
     • While still working and covered by the group health plan.
     • Within 8 months of stopping work (even if the group health plan continues).
     • Within 8 months of the group health plan ending while you or your spouse continue to work.

3. General Enrollment Period (GEP):

   • If you miss the other enrollment periods, the GEP is available.
   • However, signing up during this time typically results in a lifelong penalty.
   • You can still enroll between January 1 and March 31 each year, with coverage beginning the month after sign-up.

4. Understanding Primary and Secondary Insurance:

   • Medicare coordinates with other insurance (like employer coverage or Medicaid).
   • Knowing which insurance pays first can help prevent billing issues.

Remember that Medicare decisions are critical, and we are here at Kempel Agency MEDICARE SOLUTIONS to assist you in making informed choices. Feel free to contact us at (815) 801-7010 today. We Make Medicare Easy!