Do I need to sign up for Medicare when I turn 65?

[Bozo]

Ok I've read the information on www.medicare.gov and I'm still confused after talking to friends and some other online reading.
I'm still working at a job that has 20 or more employees and have health insurance from that job.
I think I don't need to sign up for anything since I have insurance with my employer and from what I read on the medicare website.
Others say I need to sign up for A and one friend who's wife works in doctors office says I need to sign up for part C

Does anyone on this forum have any experience that can point me in the right direction?

I've tried calling Medicare and every time I've been on hold for like 10 - 15 minutes and no one ever picks up.

 

[Reach4]

There is a grace period. I forget if it was 2 or 3 months. If you wait beyond that, there is a penalty on your premiums forever.

 

[Sponsor]

 

[AnnR]

Yes, you need to sign up. If for nothing else, then sign up for Part A which costs nothing. (Hospitalization). The only downside to that is when you eventually lose your job coverage, you will have to apply for Medicare coverage on paper, you can't do it online. Your regular job insurance plan may require you to sign up for Medicare Part A when you turn 65, since Medicare will then pick up some of your hospital bills.

If the quality of your current insurance plan is high enough, it will serve as a substitute for Medicare Part B, which is the normal health insurance everyone thinks of as Medicare, and you will not have a penalty when you eventually enroll. If you have Prescription coverage then it may serve as a substitute for Medicare Part D, Prescription coverage. If you have no prescription coverage on your current plan you need to get Part D, or you will pay a penalty if you choose to sign up when you want it.

Part C (Advantage Plan) is entirely different than regular Medicare Part B. It is more like an HMO and usually includes prescription coverage so you don't need to sign up for Part D separately. You can't have both Part B and Part C at the same time, you have to choose which you want, and there are usually lots of options for Part C, depending on where you live. You can switch between the two if you want, there are no limitations on that, except that it can only be done during regular enrollment season (or life changing events, like moving out of your Medicare Part C area).

 

[WorthFlorida]

Look up an insurance company in your state. Most will have weekly seminar on Medicare coverage. I have Florida Blue, a blue cross blue shield company. They have offices all over the state. They give great information and cost. Cost is determined by zip codes and can vary around the state. You should sign up when you turn 67, or whenever full retirement can start. Nothing to do with Social Security. When you retire to collect social security, the premiums are taken out of your social security. This year it about $159 per month.
As Reach4 mentioned, wait too long and the premium increases. Once a year between Oct-Dec, is when you can change companies After you're enrolled.

Employer insurance companies will require you to have Medicare. Medicare pays first, then the insurance company.

It's a confusing period. Medicare is far better than any other insurance you can have and when you retired, you pay far less federal income tax. One year ago I was diagnosed with gastroesophageald adenocarcinoma, that's esophagus cancer. In seven months (2023) Medicare claims $1,122,700 million dollars. My out of pocket was about $7,100. Medicare paid $530,000 under contract. All else is waved.