The benefits of turning 65 include many Medicare advantages.

If you’re about to turn age 65, then it’s time to consider some things that can greatly affect your finances and healthcare. In the months leading up to turning age 65. There are some important things you need to find out.

IF YOU ARE GOING TO CONTINUE WORKING PAST AGE 65 AND HAVE GROUP INSURANCE

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Continuing to work and be a part of a group health plan changes your options on Medicare. Talk to your HR department and to the person that administers your healthcare benefits. Once you turn 65,  if you have worked 40 quarters ( 10 years) over your working lifetime,you are eligible to receive Medicare Part A (hospital insurance) free. If you haven’t worked 40 quarters then you might check into drawing benefits on your spouse, as long as he or she has worked 40 quarters and is 62 years old. Medicare part A if you qualify is automatic, there is no need to sign up as it’s automatic. The decision you need to make is if you need to apply for Medicare Part B. It depends on certain regulations, so  it’s best to contact the HR department and let them know you are eligible for Part B of Medicare and determine if you should apply. In some cases you will not need to apply for your Part B until you decide to retire. The same goes for your Part D, which is your drug benefit. You need to make sure that your group insurance is “creditable coverage”. If your insurance does have creditable coverage then you will not need to sign up with a Part D drug plan. If you do need to apply for Medicare Part B. You can call 1.800.MEDICARE or visit www.Medicare.gov and apply on-line.

Or feel free to contact Your Insurance Gal , and talk to a Medicare Insurance specialist who can guide you through all of this. Our services are free to you. Call (360) 771-1155.

To learn more about Medicare on your own, visit www.Medicare.gov

I’M NOT WORKING PAST AGE 65, AND NEED TO APPLYREAD HERE

If you will be turning 65 in the next few months, or if you are drawing on your social security and receiving your monthly social security checks, in most cases you need to do nothing to start receiving standard Medicare benefits. You will receive your Medicare card in the mail about 3 months prior to the month of your birthday. Once you receive your Medicare card it will show your Medicare Part A and Medicare Part B effective dates. In most cases these dates  start on the 1st of the month in the month of your birthday. By keeping your Medicare card you are saying that you do want to participate in the Medicare program. When it comes to opting out of Medicare Part B you could be subject to a penalty of 10% per month of the Medicare Premium for every month you are not on Medicare Part B. However, most people choose to participate in Medicare part B, Medigap, Medicare Advantage programs. This is the time to explore your options in regards to health  insurance that compliments your Medicare. You can explore Medicare Supplements and Medicare Advantage plans to see what is going to best fit your needs. You will also need to explore Medicare Part D options, as if you don’t enroll in a Medicare Part D plan you may also be subject to a penalty. Once you have secured your Medicare Benefits. You will have a total of 7 months to look at insurance plans. You have 3 months prior to your Part A and Part B effective date. The month of , and 3 months after. If you go to our “quote me now” and evaluate your options. We will be happy to help you explore all of your options and understand the many choices you now have. Our consultations are free!