Delaying Medicare Part B

I've had some questions lately about enrolling in Medicare Part B. The most important thing to remember about Part B is when you're eligible for Medicare you can delay enrolling but you must meet certain criteria, so you don’t get penalized. Those penalties increase an enrollee’s monthly Part B premium by 10 percent for each 12-month period the person could have been enrolled but wasn’t. Also, those who miss their initial enrollment window and don’t meet every single requirement for the Special Enrollment Period for Part B generally can only enroll during January to March of each year, with Part B coverage not effective until that July – leaving up to a year or more without primary medical coverage.
One of best ways to avoid the Part B late-enrollment penalty and enroll in the right medical coverage at the right time, is by having group health coverage through your own or a spouse’s current employer, and have had that coverage during the first month you qualified for Medicare. You then must enroll in Part B coverage within the eight months following the last day of the month when you or your spouse's employment ends, or you or your spouse’s current employment-related group health plan coverage ends. Whichever comes first.
I'l share more on Medicare enrollment tomorrow. If you have questions call 320-679-5183 or go to yoursafemoneyshow.com.