Ask Ms. Medicare: Deciding on Medicare Enrollment If You Have Retiree ... Medicare Resource Center

Do I Need Medicare if I Have Retiree Health Benefits

Q. I’ll retire at the end of the year, and fortunately my retiree benefits include medical and prescription drug insurance. Do I need to enroll in Medicare? A. There’s no reason not to sign up for Part A hospital insurance (see reasons ). But you’ll have to think carefully about Part B (medical insurance). These are your options: You can sign up for Part B within eight months of retiring and possibly pay two sets of monthly premiums—one for your retiree coverage (if it requires a premium) and one for Part B. Or You can choose not to sign up for Part B within eight months of retiring. But be aware that if at some future date you lose your retiree health coverage (or decide to drop it) and want to join Part B at that time, you would pay a late penalty on all future Part B premiums. The penalty amount would be an additional 10 percent of the cost of the premium for each year since your retirement, as explained ) Part D (prescription drug insurance) has different requirements. You do not need to sign up for Part D as long as your retiree drug coverage is at least as good as Medicare’s. The administrator of your retiree health plan can tell you whether it is or not. Patricia Barry is a senior editor at the AARP Bulletin. Cancel You are leaving AARP.org and going to the website of our trusted provider. The provider’s terms, conditions and policies apply. Please return to AARP.org to learn more about other benefits. Your email address is now confirmed. You'll start receiving the latest news, benefits, events, and programs related to AARP's mission to empower people to choose how they live as they age. You can also by updating your account at anytime. You will be asked to register or log in. Cancel Offer Details Disclosures

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