Turning 65 Guidance: Your Medicare Checklist
A step-by-step checklist for what to do when you turn 65, including when to apply, what happens if you miss enrollment, and working while on Medicare.
Your Turning 65 Checklist
Turning 65 is an important milestone. It's also when most people become eligible for Medicare. Knowing when and how to enroll can help you avoid penalties and ensure you have the coverage you need.
When Should I Apply for Medicare?
Your Initial Enrollment Period (IEP) lasts for 7 months. It begins 3 months before the month you turn 65, includes your birthday month, and ends 3 months after your birthday month.
What Happens if I Miss Enrollment?
If you don't sign up for Medicare Part B and Part D when you're first eligible, you may have to pay a late enrollment penalty for as long as you have Medicare. The Part B penalty goes up 10% for each full 12-month period you could have had Part B but didn't sign up.
Can I Work and Still Get Medicare?
Yes. If you (or your spouse) are still working and you have health coverage through that employer, you may be able to delay enrolling in Medicare Part B and Part D without a penalty. This is called a Special Enrollment Period.
Important Note on Employer Coverage
Your employer must have 20 or more employees for the coverage to be considered "primary." If the employer has fewer than 20 employees, Medicare pays first, and you generally need to enroll in Part A and Part B when you turn 65.
Need Personalized Guidance?
Reading about Medicare is a great first step, but everyone's situation is unique. Speak with a licensed Arkansas Medicare advisor to get personalized answers.