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How to turn on Medicare Part B after you are done working. Also the benefits of turning on Part A while still working

☛ Eligibility Check:

Firstly, ensure you're eligible for Medicare Part B. Most people become eligible when they turn 65, but there are other qualifying criteria as well. Specifically when you retire and you no longer have an Employer Sponsored Plan

☛ Enrollment Periods:

There are specific enrollment periods during which you can sign up for Medicare Part B without penalty. The Initial Enrollment Period (IEP) is the seven-month period that begins three months before the month you turn 65, includes the month you turn 65, and ends three months after the month you turn 65. If you're still working and have health coverage through your job or your spouse's job, you might qualify for a Special Enrollment Period (SEP) that allows you to enroll in Part B without penalty when that coverage ends.

☛ Application:

You can apply for Medicare Part B by filling out the "Application for Enrollment in Part B" (CMS-40B) form and the "Request for Employment Information" (CMS-L564) form. You can download these forms from the Medicare website or call the Social Security Administration to request them.

☛ Documentation:

You'll need to provide proof of your current employment or the current employment of your spouse if you're applying for a Special Enrollment Period based on that employment. This can include a letter from your employer or your employer's health plan.

☛ Timing:

Be mindful of when you want your Part B coverage to start. You can choose the month when you want your coverage to begin, and you can request that it starts immediately or at a later date.

Regarding the benefits of turning on Medicare Part A while working, there are several considerations:

☛ Primary or Secondary Coverage:

Medicare Part A can serve as secondary insurance if you're still covered by an employer's health plan. This can help cover costs that your primary insurance doesn't cover.

☛ Hospital Coverage:

Medicare Part A primarily covers hospital stays, skilled nursing facility care, hospice care, and some home health care services. If your employer's plan doesn't cover these services or has limitations, having Part A can provide additional coverage.

☛ Coordination of Benefits:

If you have both Medicare and employer-sponsored health coverage, the two plans can work together to cover your healthcare expenses, potentially reducing your out-of-pocket costs.

☛ Future Transition:

Having Medicare Part A while still working can make the transition to Medicare as your primary coverage smoother once you retire or when your employer's coverage ends.

☛ Peace of Mind:

Knowing you have additional coverage can provide peace of mind, especially if your employer's plan has limitations or if you anticipate needing medical services that are covered by Medicare Part A.

Before making any decisions, it's advisable to consult with a Medicare representative or a healthcare insurance expert to understand your specific situation and how enrolling in Medicare Part A or B might impact your current coverage and future healthcare needs.