Turning 65 Soon And Still Working. Should I Enroll In Medicare?

June 14th, 2022

Many people nowadays still work past 65 years old and have health insurance through their employer (our spouse’s employer). Now, the question is: Should they enroll in Medicare or not when turning 65?

Generally, people who are eligible for Medicare but still work only enroll in Medicare Part A when turning 65 and delay enrollment in Medicare Part B. Most people don't pay any monthly premium for Part A if they have worked and paid into the Medicare taxes for 40 quarters (10 years). Delaying Part B due to employment will exempt them from facing penalties when enrolling in Part B later.

However, this option might not work for everyone. If you are eligible for Medicare but want to delay Part B, you should check with your employer (or spouse’s employer) if your current health coverage is considered "creditable coverage". Basically, creditable coverage means “covers as much as what Medicare covers”. If you current plan is considered creditable coverage, you can keep your current health plan through your employer (or spouse’s employer) until you loose this coverage or decide to retire.

However, if your plan is not creditable coverage, you should enroll in both Part A and B when turning 65, to avoid paying penalties or miss your enrollment period if you delays enrollment.

Find more information about this topic here.

Finding out if your current health coverage is considered “creditable coverage” or not is very important when deciding whether or not to enroll in Medicare at age 65 while still working.

Not sure what you should do? We are here to assist you. Please reach out and allow our team to assist you with your Medicare questions.