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Response to sheshe2 (Reply #15)

Mon Oct 14, 2019, 08:44 PM

16. In regard to Medicare, if you coming into Mediccare for the first time, if you you don't sign up

for Medicare during your initial enrollment window, which is when you turn 65 you'll face a 10% increase in your Part B premiums for every year-long period you're eligible for coverage but don't enroll. That penalty won't go away. Therefore, it generally pays to sign up for Medicare at 65. There is a 3 month window when you turn 65 before and after your birthday where you turn 65 where you won't be subject to that penalty, plus there are a couple of exceptions where you can delay it if, but it general, you miss that three month window after you turn 65 you will be paying an increased premium.

I need to re-read the OP, but I thought the OP is referring to the ACA, which is not based on when you turn 65 as Medicare, but different qualifying events, which based on what the OP has said I believe he has qualified for.

In other words that "enrollment period of your very own", for someone first coming into Medicare could be very costly premium wise if they don't sign-up for Medicare within 3 months after they turn 65.

When you turn 65 is the magic number, unless you meet one of the exceptions, or less then 65 if you have certain medical conditions.

That is the way I understand it.

The rules are very complicated for Medicare, and those who miss the initial Medicare sign-up can cost them.

Others have mentioned since that person is leaving his or her job that is a qualifying event for the ACA. They can also do COBRA in that case, which is extremely expensive

Thanks sheshe. The information you provided is correct, but I believe leaves out the penalties and other issues if you don't sign-up for Medicare when you turn 65/




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Arrow 18 replies Author Time Post
Yavin4 Oct 2019 OP
PoliticAverse Oct 2019 #1
Yavin4 Oct 2019 #2
PoliticAverse Oct 2019 #6
drray23 Oct 2019 #7
still_one Oct 2019 #11
PoliticAverse Oct 2019 #14
sheshe2 Oct 2019 #3
Yavin4 Oct 2019 #8
sheshe2 Oct 2019 #12
PoliticAverse Oct 2019 #9
sheshe2 Oct 2019 #10
still_one Oct 2019 #13
sheshe2 Oct 2019 #15
LineLineLineLineLineNew Reply In regard to Medicare, if you coming into Mediccare for the first time, if you you don't sign up
still_one Oct 2019 #16
sheshe2 Oct 2019 #17
still_one Oct 2019 #18
The Velveteen Ocelot Oct 2019 #4
yonder Oct 2019 #5
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