Medicare if covered at work
I am turning 65 soon. I am currently employed with healthcare and don”t plan on retiring until I reach FRA. I am told that I have to sign up for Medicare before my 65 th birthday or face a lifetime penalty. Can I do that online and if so, since I have work supplied medical insurance, which parts am I required to sign up for at this time?
Terry Says
Whoever told you that is WRONG — unless your company has fewer than 20 employees. In that case, their health insurance may require you to sign up for Medicare Part A and B, as a condition of their health insurance plan. So ask your HR department.
But in general, you CAN sign up for Medicare part A when you turn age 65. It doesn’t cost any money. The only drawback is once you sign up you can no longer contribute to a Health Savings Account, if you have one.
But you are not required (except as described above) tosign up for Medicare while you have comparable coverage from work.
