Is Medicare Mandatory at Age 65?
Although you’re not required to enroll in Medicare at age 65, you’re well advised to do so in nearly every situation.
If you currently have private health insurance:
Most Americans are eligible for retirement insurance benefits several years before they’re eligible for Medicare, and many have little choice but to enroll in private health insurance plans until they become Medicare-eligible. You don’t need to cancel your private plan if you enroll in Medicare, though you may choose to do so. In most cases, Medicare will be your secondary payer, helping to cover some costs your private insurance won’t cover.
If you have private insurance, you may choose to opt out of Medicare Part B coverage while remaining enrolled in Medicare Part A. This will allow you to save the cost of your Part B premium, currently set at $104.90 per month for most Americans.
If you’re wondering whether your current situation makes it advisable to go without Medicare Part B coverage, call MedicareMall toll-free at (877) 413-1556 and we’ll help you determine whether that’s the right step.
If you currently have COBRA coverage:
In some cases you can have COBRA and Medicare coverage simultaneously. If you receive COBRA coverage after enrolling in Medicare, Medicare will be your primary payer. You’ll be responsible for paying both COBRA and Medicare Part B premiums, though you’ll have the option of leaving Medicare Part B.
If you already have COBRA coverage when you enroll in Medicare, your COBRA coverage normally will end upon your enrollment in Medicare. You may, however, be able to keep COBRA coverage for services not covered by Medicare (such as dental or vision). Even if you lose COBRA coverage due to enrollment in Medicare, your spouse and dependent children should be eligible to retain their COBRA coverage for up to three years.
Medicare can go a long way toward helping you maintain your good health—if you have the experience and knowledge to take advantage of it. If you have questions about senior healthcare including Original Medicare (Medicare Part A and Medicare Part B), Medicare supplement plans, or Medicare Advantage, contact MedicareMall now and let us save you money and lead you with confidence through the Medicare maze!