65 & Ready for Medicare

Medicare Part A

If you are 65 years of age, you are ready to receive Medicare benefits. This might happen in two different ways. If you have already retired and you are receiving Social Security retirement benefits (or any other type of Social Security benefits), you are automatically enrolled in Medicare Part A, which is hospital insurance. Your benefits start on the first day of the month in which you turn 65 years old. If you do not yet receive retirement benefits or any other Social Security benefits, you must enroll in Part A by calling the Social Security office three months before your 65th birthday. If you do so, benefits also start on the first of the month of your birth. You have up to three full months after your birthday to enroll.

If you are 65 years of age, you are also ready to enroll in Medicare Part B, which is medical insurance. Unlike Part A, Medicare Part B is not free. As with Part A, if you already receive Social Security benefits, enrollment is automatic. Since Part B is not free, you can choose to drop its coverage when you receive your Medicare card. If you are not automatically enrolled, you must contact the Social Security office to enroll. If you do not enroll during the enrollment period mentioned above and you decide to enroll later, a late penalty is added to your monthly premiums.

Medicare Part C is also called Medicare Advantage Plans, since it consists of plans provided by private companies that add extra coverage to original Medicare coverage (Part A and Part B). Once you turn 65 years of age, you are also ready to enroll in Part C. You can do so by choosing a plan from the Medicare website that fits your needs and getting in touch with the company that provides it. You can do this by filling out an online application or by calling Medicare. If you enroll during the three months before your 65 birthday, coverage starts on the first day of your month of birth.

Medicare Part D plans provide prescription drug coverage. You also become eligible to enroll in Medicare Part D when you turn 65 years of age. You can enroll during the period encompassing the three months before your month of birth, your month of birth and the three months after your month of birth. If you have another accredited prescription drug coverage, you are not required to enroll in Part D. If you do not have any other coverage and you do not enroll while you are 65 years old but you do enroll later, you must also pay a penalty for late enrollment.