Can I delay enrolling in Medicare if I have employer coverage?

If I have insurance through my job, do I need to enroll in Medicare right away?

If you’re still working and have health insurance through your job, you may not need to enroll in Medicare right away when you become eligible at age 65. Here’s what you need to know:

1. Medicare Part A:

   • Most people enroll in Medicare Part A (hospital insurance) when they turn 65 because it’s usually premium-free. You can have both employer insurance and Part A at the same time. Part A can serve as secondary coverage to help cover hospital-related expenses that your employer plan might not fully cover.

2. Medicare Part B:

   • Medicare Part B (medical insurance) comes with a monthly premium, so many people delay enrolling in Part B if they have employer-sponsored health insurance. If your employer has 20 or more employees and provides creditable health coverage, you can delay Part B without facing late enrollment penalties.

   • However, if your employer has fewer than 20 employees, Medicare may become your primary insurance once you turn 65, and your employer insurance could be secondary. In this case, it’s important to enroll in Part B to avoid gaps in coverage.

3. Special Enrollment Period (SEP):

   • If you delay Part B because you’re still covered by your employer’s health plan, you’ll be eligible for a Special Enrollment Period (SEP) when you retire or your employer coverage ends. You’ll have 8 months to enroll in Part B without facing a late enrollment penalty.

For more personalized guidance on whether you should enroll in Medicare right away or delay, depending on your employment situation, you can schedule an appointment with a Tsunami Advisor here: Schedule an Appointment.