IF YOU'RE OVER 65 AND PLAN TO WORK FOR A FEW MORE YEARS:

More and more people are opting to retire later in life, in some cases to maximize Social Security retirement income. If you're part of an employer health plan, Medicare might already pay benefits under Part A (hospital coverage). Whether or not you should enroll in Part B (medical coverage) depends on:

• The size of your company
• How much you pay toward your group premium
• If you need coverage for a spouse and/or dependents

Our licensed Medicare Insurance Advisors can review your situation and help you determine what coverage makes the most sense for you.

WHEN YOU DECIDE TO STOP WORKING:

When you leave your job and lose your employer coverage, you'll have a Special Enrollment Period to sign up for Medicare Part B (and Part A if you haven't already). This period lasts for 8 months, starting the month after your employment OR your group health insurance ends. If you still do not enroll after 8 months, you may face a penalty for late enrollment.

IMPORTANT:

If you are interested in joining a Medicare Advantage or Medicare Prescription Drug plan, your chance to join lasts for two months after the month your employer coverage ends.

IF YOU HAVE COBRA COVERAGE:

COBRA is not considered employer coverage. You must sign up for Part B during the first 8 months you have COBRA to avoid the late-enrollment penalty. If you miss the 8-month window, you must wait to sign up during the next General Enrollment Period (January 1 - March 31) and coverage won't start until July 1.