What you need to consider if you’ve just become eligible for Medicare (you’ve turned age 65 or you’re younger and have a disability that entitles you to social security and Medicare).
- It’s best to sign up on time when you’re first eligible for Medicare because there are financial penalties for late enrollment into Part A, B, and D.
- You can sign up during the seven-month period that begins three months before the month you turn 65, the month you turn 65 and three months afterward.
- Consider having a face-to-face appointment with your local Social Security office to get advice when choosing the best plans for you.
See Chapter 11 – Choosing the Best Insurance and Assuring End of Life Wishes (p. 203-219) in our recent best seller, Insider’s Guide to Quality, Affordable Healthcare, for more information about the ins and outs of Medicare.
Next time we’ll discuss lesser known, “insider” strategies to use your insurance in the best ways possible to reduce your out-of-pocket costs – a major concern for most Americans.