People With Medicare

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People Working Past Age 65

People who turn 65 starting in 2011 are part of what's called the "baby boomer generation." The "baby boomer generation" refers to anyone born after World War II between the years of 1946 and 1964. Why is this important?

With the recent changes in our country's economy, "baby boomers" are faced with the tough decision of whether or not to work past the age of 65. Retiring at age 65 means you will not get full retirement benefits from Social Security. This is because retirements benefits depend on the year you were born. People turning 65 this year (those born in 1946) must wait until they are 66 years old to collect full retirement benefits. They can retire sooner, but they may get a reduced retirement benefit.

Learn more about when you can collect retirement benefits from Social Security.

That said, you still need to consider Medicare when you turn 65 whether or not you continue to work. And, you need to make some important decisions about Medicare at least 3 months before your 65th birthday.

If you are still working after you turn 65 (or your spouse is still working) for a company with 20 full-time workers AND you get health insurance from them, you may not need all of Medicare when you turn 65. You can delay certain parts of Medicare, and get them later on when you retire, or if you lose your job-related insurance.

Learn more about delaying Medicare Part B.

Learn more about Medicare Part D prescription drug coverage and why you need to know whether you have “creditable drug coverage.”

Most people should enroll in Medicare Part A when they turn 65, even if they have employer health insurance. This is because it is free for most people who are eligible for Medicare. Why is it free? We pay for Medicare Part A through payroll deductions while we work. If you have insurance through a job, Medicare Part A may not pay much toward your health care costs because Part A generally pays after (called secondary) to your job's insurance. By taking Medicare Part A when you first become eligible for it you will not need to worry about enrolling later.

Note: If you get insurance from your job (or your spouse's job), be sure and talk with them first. See how your job's insurance may change when you get Medicare, even Medicare Part A.

For example, some people have a kind of health insurance through their work called a Health Savings Account (HSA). If you have an HSA, you may not want Medicare Part A right away; you may be the exception to the rule and need to delay Medicare Part A if you have a HSA through your job. That's because an employer may stop contributing to your HSA account once you enroll in Part A. It is really important for you to speak with your job's human resource department to see how Medicare may change your benefits.

And if you work for a small company (less than 20 employees) or are self-employed, you will probably need to take Medicare Part B in addition to Part A when you turn 65.

To apply for Medicare, you must contact Social Security at 1-800-772-1213, or visit them online. Once you enroll, your Medicare card and "Welcome to Medicare" kit will come in the mail.

Other Helpful Online Resources

• www.ssa.gov: To apply for Medicare, you can use Social Security's online services. Follow Social Security's instructions. Keep in mind, if you choose to delay Medicare Part B now, you will need to contact Social Security later on either in person or by phone when you are ready to enroll in Part B.
  
  
• MyMedicare.gov: Medicare offers a secure website where people with Medicare can review and track their benefits. Once you enroll in Medicare, go to www.MyMedicare.gov, and sign-up for this free, online service. Through your online account, you can get:
  
• Information about your Medicare benefits (24 hours a day, 7 sevens a week),
• Get and print your recent Medicare claims and notices,
• Track your prescriptions,
• Sign-up to get your yearly Medicare & You handbook electronically, and more.

The service also has a live chat feature. This way, you can get direct assistance online from Medicare.

NEXT: Types of Coverage