Medicare for Workers Over 65

Friday, March 1, 2013

(NAPSA)—Turning 65 has traditionally been associated with the start of a person’s retirement and, accordingly, his or her Medicare coverage. But if you are one of the 10,000 baby boomers turning 65 every day and you choose to work past the traditional retirement age, it’s important that you understand how this choice impacts your Medicare coverage. “Medicare enrollment can be confusing, especially if you work past age 65 and have employersponsored health coverage,” says Tom Paul, chief consumer officer, UnitedHealthcare. “Regardless of when you plan to retire, it’s important to learn about Medicare as you approach your 65th birthday so you have time to consider your options and can feel confident about the choices you make.” Keep these things in mind: Timing Matters: Pay attention to your Initial Enrollment Period (IEP). The IEP is a sevenmonth period that includes the three months before your 65th birthday, the month of your birthday, and the three months after your birthday. You should understand how your enrollment choices during the IEP could impact your health care coverage both now andin the future. Keep in mind that many people choose to enroll in Medicare Part A (for hospital care) when they turn 65 even if they have employer coverage. For most people, Part A is available for no monthly premium and can be combined with some employer-sponsored health plans. Penalties and Gaps Are Possible: If you don’t sign up for Medicare coverage during your IEP, you could experience a gap in coverage later and could also incur penalties on your premiums for Medicare Part B (doctor’s visits) and Part D (prescription medications). To avoid these scenarios, be proactive in contacting Medicare to notify them of your delayed enrollment and make

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