If you work past age 65 and have employer-sponsored health coverage, you may be able to delay enrollment in Medicare Part B without facing a late enrollment penalty. Here are some things to keep in mind:
If your employer has 20 or more employees, your employer's health plan becomes the primary payer for your health care costs, and Medicare becomes the secondary payer. You may choose to delay enrollment in Part B until you retire or lose your employer-sponsored health coverage without facing a late enrollment penalty.
If your employer has fewer than 20 employees, Medicare becomes the primary payer for your health care costs, and your employer's health plan becomes the secondary payer. In this case, you may need to enroll in Medicare Part B when you turn 65 to avoid a late enrollment penalty.
If you do decide to delay enrollment in Medicare Part B, you will need to enroll in Part B within 8 months of the time you lose your employer-sponsored health coverage or retire, whichever happens first.
It's important to understand your options and the rules for enrollment in Medicare to make the best decisions for your health care coverage as you continue to work past age 65. You can visit the official Medicare website at www.medicare.gov or speak with a Medicare representative for more information.
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