Enrollment Timing

Turning 65 — what to do about Medicare

Turning 65 is a big milestone. What you should do depends on your situation.

• If you are 65, no longer working, and have no employer-provided insurance:
  • Apply for Medicare Part B
  • Decide whether to go with a Medicare Supplement plan or a Medicare Advantage plan
  • Choose the company that best fits your needs
• If you are 65, continuing to work, and your employer offers insurance:
  • Check with your employer whether you need to sign up for Medicare Part B — typically, if the employer has fewer than 20 employees you will need to sign up for Part B
  • Decide, for when the time comes, whether to go with a Medicare Supplement plan or a Medicare Advantage plan
  • Compare the benefits and cost of your employer plan with your Supplement or Advantage decision; remember to consider what happens to your spouse’s coverage
  • If signing up for a Supplement or Advantage plan is the better option now, decide which company best fits your needs
• If you are retiring after age 65 and starting Medicare then:
  • Sign up for Medicare Part B — don’t wait until you leave your job; do it 3 to 6 months ahead of time
  • You must sign up for Part B within 8 months of losing that coverage, even if you decide to take COBRA
  • Decide whether to go with a Medicare Supplement plan or a Medicare Advantage plan
  • Choose the company that best fits your needs