Houston Estate Planning and Elder Law Attorney Blog
You must sign up for Medicare Part B no later than eight months after retirement, or the penalties could be serious.
These are the details that really matter when it comes to retirement and Medicare. If you signed up for Medicare Part A on your 65th birthday but were still working, you probably didn’t enroll in Part B. Now you’ve just turned 68 and plan on retiring this year. When do you need to enroll in Medicare Part B, and what do you need to know to ensure that you’re covered?
Kiplinger’s recent article, “What to Know About Enrolling in Medicare Part B,” says that many people who are still working do this. They sign up for Medicare Part A at 65 (because it’s free) and wait to sign up for Part B, while they’re covered by their employer’s insurance. However, you are required to sign up for Medicare Part B no later than eight months after you leave your employment and lose that coverage. Failure to do so, can result in a lifetime penalty and a gap in coverage.