To avoid facing penalties down the road, everyone who's getting close to that milestone birthday should make sure they understand the sign-up rules and their available options.
If you're getting close to celebrating your 65th birthday, it's time to review how Medicare will fit into your life.
This makes figuring out your Medicare coverage a key part of managing your expenses. Here's what you need to know to get you started. The average cost for Part D coverage in 2019 is $32.50, according to the Centers for Medicare and Medicaid Services, although high earners pay extra for their premiums . The deductible for 2019 is $415.
"About a month or two before you turn 65, you'll be automatically enrolled, and your card will just show up in the mail," Roberts said.Roberts said that if you already are getting Social Security benefits and you want to delay Medicare because you have qualifying coverage through your employer , call the Social Security Administration and tell them not to enroll you.
Or, you can go ahead and enroll in Parts A and/or B. Be aware, though, that in this case your employer health care would be your primary coverage and Medicare would only pick up the tab if the primary policy doesn't cover a service but Medicare does. This means that if you sign up for Part B, you'll be paying a monthly premium whether the coverage is used or not.
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