Additional advice. When you turn 65 you must sign up for Medicare. Had a friend that at 65 decided he wasn't going to sign up for Medicare. He had good insurance that he could well afford to pay for. About a year later, when he went to his doctor, he was told he had to have Medicare, they couldn't bill his private insurance. He signed up for Medicare and was told his premiums for the part B (?) would be higher for the rest of his life as he didn't sign up when he turned 65. Yes, a lifetime penalty.
Also, when initially signing up for Medicare if you don't get their prescription coverage, or a Medicare approved prescription plan, but later you decide you want prescription coverage, same thing, premium is higher as you didn't sign up at 65. Even if you don't take any prescription medicare they will penalize you forever. Bottom line, get the cheapest approved prescription plan. If in the future you do have to take meds you can change your plan in the last quarter of the year.
Thats surprising,,,,my insurance dropped me when I was 65, saying I was no longer eligible for coverage because I was medicare eligible.
It was like automatic...within days of my birthday.
For each 12-month period you delay enrollment in Medicare Part B, you will have to pay a 10% Part B premium penalty, unless you have insurance based on your or your spouse’s current work (job-based insurance) or are eligible for a Medicare Savings Program (MSP).
The Part D penalty works the same.
I also plan to get supplemental insurance to cover any gaps in the Medicare coverage.