Q: If I sign up for Medicare late, are there any late penalties?
A: It is very important to sign up for Medicare on time, because late enrollment penalties can be costly. In most cases, they mean paying higher premiums for as long as you have Medicare. 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: the 3 months before your 65th birthday month, the month of your birthday, and the 3 months after. 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 process before you become eligible, 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?
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 Adjustment Amount), which may apply to higher-income beneficiaries. Please refer to the link below to see if this applies to you, and make sure you are looking at the correct year. SSA.gov does a great job of keeping this information 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: If you are covered through your or your spouse's current employer, you may not need to sign up for Medicare Part B at age 65. One rule many people overlook is that if you go past 65 without signing up for Part B, you should keep records of your employer coverage, because Medicare may ask for proof that you had coverage during that period. For each employer you worked for after age 65, please keep records to avoid any challenges or potential penalties.
