Turning 65? Let’s begin your Medicare journey

Three months before turning 65, you enter your Initial Enrollment Period (IEP) which starts 3 months before your birth month, includes that month, and extends 3 months after.  Example, my birthday is April 15.  So my IEP begins in January and ends the last day of July.

If you work for a company that has over 20 employees and has qualifying insurance coverages, you don't have to apply for Medicare, yet.  Visit with your company's benefit administrator to be sure.  If you delay past 65 for signing up for Medicare, be aware that your Initial Enrollment Period (IEP) will start when your company insurance ends and lasts for eight months.  If your company has less than 20 employees or has a non-qualifying healthcare plan, then your IEP will start three months before your birth month and last until three months after your birth month.

Please be aware of these potential penalties to make sure you don't spend more than you have to.  If you don't sign up for Part B within a year of your IEP, then your Part B payments will be increased 10% per year for every year your didn't sign up.  If you don't sign up for Part D, or let it lapse for more than 63 days, then you will have to pay a 1% penalty per month of non-coverage.  These penalties last forever, so watch for them.

If you are ready for the next steps, you can click the Next Steps button below.  If you have questions, please email [email protected], call 254-413-3309 or attend our free Zoom Meetings by clicking this link.  Zoom meetings are very informal and are designed to have a safe place to ask questions without any pressure.