Q: If I sign up for Medicare late, are there any late penalties?
A: It is very important to ensure that you sign up for Medicare in a timely manner as the penalties can be costly. In most cases, resulting in paying higher premiums. You can learn more by visiting cms.gov for detailed information.
Q: I am turning 65 soon. When am I eligible to sign up for Medicare?
A: This is a great question. In general, you have a 7-month window to sign up for Medicare. 3 months before your 65 th birthday, the month of your birthday and 3 months post-birthday. It is important to
make sure you do not wait until the last minute to sign up. To ensure there are no issues, we recommend starting the due diligence process before eligibility, so you are prepared to take action once you are eligible for Medicare benefits.
Q: I am a veteran and have VA benefits. Should I sign up for Medicare Part B coverage?Q: I am a veteran and have VA benefits. Should I sign up for Medicare Part B coverage?
A: The short answer is yes. Most veterans we talk to do not understand the importance of obtaining this coverage. Any potential delays in coverage may result in late enrollment penalties, and/or delayed coverage. Please visit Medicare.gov for more information.
Q: I lost my Medicare card. How do I get a replacement?
A: In a situation where your card was lost or stolen, you can go online to Medicare.gov. From there, you can request a replacement card.
Q: Will I have to pay more in Medicare premiums since my income is high?
A: It is possible. You may have heard the Acronym: IRMAA (Income related Monthly Adjusted Amount) which rules may apply for higher-income beneficiaries. Please refer to the link below to see if this applies to you. Please note: you want to ensure that you are looking at the appropriate year for accuracy. Ssa.gov does a great job at keeping everything up to date.
https://www.ssa.gov/benefits/medicare/medicare-premiums.html
Q: I am working and have coverage through my employer. Do I need to sign up for Medicare Part B?
A: Since you are covered through you or your spouses, you may not need to apply for Medicare Part B coverage by age 65. One rule many look over or simply don’t know, is that if you go past 65 without signing up for Medicare Part B, it is important to keep record of your coverage as Medicare may want proof that you had coverage during that gap period. For each employer you worked for post 65 years of age, please keep record to avoid any challenges or potential penalties.
