Turning 65 but not retiring?

Now more than ever, many would be retirees find themselves at a crossroads between retirement or continued employment.  When making this decision there are several factors to take into consideration when it comes to your health insurance and Medicare.

Medicare is designed to go into force on the 1st of your birthday month when you turn 65.  In most counties in most states you will be automatically enrolled into part A and B of Medicare.  This action places you into an “Open Enrollment” status to choose your insurance provider to supplement Medicare with no health questions being asked.  Having said that, if you are going to continue working and keep your already provided insurance in place, you must wave your Part B of Medicare.  By informing your local social security office of your desire to wave your Part B due to current credible coverage, this allows you to take part in obtaining your Part B later without incurring penalties.

For more information on how to avoid any penalties and guidance on how to approach your Medicare options feel free to contact us or visit Medicares website at www.medicare.gov