The Medigap Market
Author: Jesse Bannister
When Should I Enroll?
We get this question a lot and the answer always varies from person to person. Generally, if you are drawing social security check, you will automatically be enrolled in Medicare Part A and Part B on the first day of the month in which you turn 65. If you are not drawing a social security check then you will need to contact your local social security office to complete your Part B enrollment within your Medicare Initial election period. Once you have completed your enrollment you will need to review your Part D RX coverage options and decide if you want traditional Medicare with a Medicare supplement plan or a Medicare advantage plan.
If you turn 65 and plan on continuing your employer group health plan or if you are going to keep your coverage through your spouse's employer you should consider temporarily opting out of medicare Part B until you lose your employer health plan at full retirement. You should compare the costs and coverage of your current health plan to the coverage options available with Medicare to determine the proper course of action.
You may also qualify for Medicare disability coverage if you are under 65 and have received social security disability benefits for at least 24 months. There are certain Medicare supplement plans and Medicare advantage plans available to you under these circumstances.
For more detailed information about signing up, including instructions on how to join, visit www.medicare.gov. You can also call 1-800MEDICARE (18006334227).
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