Medicare FAQs: Quick Answers to Your Top Questions

Frequently Asked Questions

Below are our frequently asked questions. For more information, please contact us for a consultation.

I’m turning 65 this year. When am I eligible to enroll into Medicare?

Assuming you have met the work-related eligibility requirements, you may begin enrollment into Medicare 90 days in advance of the month you turn 65.

Do I need to enroll in Part “A” and Part “B” of Medicare?

Medicare Part A (Hospital Insurance) – Do You Need to Enroll?

Automatic Enrollment: If you’re already receiving Social Security or Railroad Retirement benefits, you’ll be enrolled automatically when you turn 65.

No Premium for Most People: If you (or your spouse) paid Medicare taxes for at least 10 years, Part A is free, so most people enroll at 65.

Delay Enrollments? If you have a Health Savings Account (HSA) or employer coverage, you may want to delay Part A to continue contributing to your HSA.

Medicare Part B (Medical Insurance) – Do you Need to Enroll?

Enroll at 65 if You Don’t Have Employer Coverage – If you don’t sign up to avoid late penalties.

Delay Enrollment if You Have Employer Coverage – If you’re still working and covered by an employer plan, your can delay Part B without penalties and sign up later using Special Enrollment Period (SEP).

Does Medicare cover me if I’m in a nursing home?

See More:

What happens if you don't enroll on time?

Part A Late Enrollment Penalty: Rare, but if you have to pay for Part A and delay signing up, your premium goes up by 10% for twice the number of years you delayed.
Part B Late Enrollment Penalty: If you delay Part B without qualifying employer coverage, you’ll pay a 10% higher premium for each full year you didn’t enroll–for life.

Can I keep all my same doctors when I’m on Medicare?

You usually can. It’s important to be sure your doctor accepts Medicare. Some don’t.

I am entitled to retiree benefits. Does that mean I won’t need Medicare?

No, a retiree plan will typically wrap around Medicare primary benefits.

Can my dependent spouse be on my Medicare plan?

Medicare does not have spousal or dependent coverage. Medicare is individual. If your spouse has reached age eligibility (65), then they can enroll in Medicare of their own accord 90 days in advance of the month they turn 65.

What is a Part “C” plan?

Part “C” is another name for Medicare Advantage. Also named MA, MSA, or MA-PD (when prescriptions are included).

What is creditable coverage?

Medicare Part D creditable coverage refers to prescription drug coverage that is at least as good as Medicare’s standard Part D coverage. If you have creditalbe coverage, you can delay enrolling in Part D without paying a late enrollment penalty when you sign up later. You will need it. Please ask your agent for more details.

Can I just have “Original Medicare” A+B as my health insurance at retirement?

Yes. However, you will not have prescription coverage, and you will face unlimited exposure to those costs due to the gaps in Original Medicare.

Can I keep my employer coverage?

Maybe. If the employer group has 20 eligible employees or more, and you’re going to continue to work, then yes it’s an option. But there are many things to consider.

What is Part D? Is there a penalty for not signing up for Part D?

Medicare Part D is prescription drug coverage. It helps pay for the cost of medication, including brand-name and generic drugs. Yes, there is a penalty for not signing up for Medicare Part D if you don’t have other creditable prescription drug coverage when first eligible. Please ask you agent for more details.