COMMON QUESTIONS: DELAYING MEDICARE ENROLLMENT

Congratulations! You’re turning 65! Although most people choose to enroll in Medicare, , some people may want to consider delaying Medicare Part A until a later date.

Around your 65th birthday, you’ll have a 7-month window of time when you can sign up for Medicare. Missing important enrollment dates can result in gaps in coverage and financial penalties, so it’s important to plan ahead. Learn more about your Initial Enrollment Period.

While many people may choose to enroll during their initial enrollment period, some people may choose to delay their enrollment in Medicare. This may be an option for people

• Who contribute to a Health Savings Account (HSA)
• Those who have to pay a premium for Part A.

Though there are some circumstances where you may want to consider Medicare Enrollment, it’s important to understand your plan enrollment options.

If you do not enroll in Part A and Part B during your Initial Enrollment Period, you will have to wait to sign up. This may cause a gap in your coverage and you may have to pay a lifetime late enrollment penalty—and that penalty increases the longer you wait.

Remember: If you choose to delay your enrollment in Medicare, you will be asked to provide proof of Creditable Drug Coverage to avoid paying penalties. Click here to learn more:

To protect against what you can’t see coming. We educate, support, and inspire our customers by protecting the resources/finances you’ve worked so hard to build. We are a company of trusted advisors on a mission to help you understand healthcare planning for retirement and the insurance options available to you.

Want a copy of your own Medicare Enrollment Planner?
Call us today!)