Most people should enroll in Medicare and Medigap at age 65 even if they are waiting until age 67 for their Social Security retirement benefits. Make sure you sign up for Medicare Part A and B and Medigap on time or you may be subject to lifetime penalties. Read on below to find out why waiting until 67 to sign up for Medigap may be too late!
If I get Social Security at 67, When Should I Enroll in Medigap?
If you were born in 1960 or later, you may have learned that you must be 67 years old to receive full Social Security (SS) retirement benefits. This new SS age deadline does not apply to Medicare or Medigap! Most people will still want to enroll in Medicare Part A and B at age 65. If you wait until 67 to get Medicare you may be subject to lifetime penalties. You may pay an extra 10% for each year not enrolled in Medicare after age 65. So if you wait 2 years after age 65 to enroll in Medicare, you could end up paying an extra 20% for Medicare Part B for life!!!
Once you enroll in Medicare Part B, you only have 6 months to enroll in Medigap in order to enroll without health reviews or increased prices. So unless you or your spouse still has coverage from a work situation, you will want to enroll in Medicare and Medigap at age 65. If you miss your Medigap initial enrollment window you won’t receive a financial penalty but insurance providers could turn you down due to preexisting conditions. Note: Delaying Part B due to work coverage allows you to enroll in Medigap later without answering health questions.
Won’t I Automatically be Enrolled in Medicare at age 65?
No! You won’t be automatically enrolled in Medicare Part B if you wait until age 67 to receive Social Security. This is because there is a fee for Medicare Part B and they cannot pull it from your Social Security at age 65 if you are not receiving it until 67! You’ll need to actively sign up for Medicare Part B at SSA.gov before you turn 65 and give them permission to charge you for Medicare Part B directly instead of via Social Security. That is not a typo. SSA.gov is where you enroll in Medicare Part B.
Learn more by reading: “Can I get Medicare at 65 if Social Security Doesn’t Start until 67?”
When Should I Enroll in Medigap?
The short answer is: that once you have Medicare Part B, you can enroll in a Medigap plan, regardless of your age. If you’re 65 or older, you have a six-month window from your Part B effective date to get Medigap without health questions. During this time, you have the right to choose any Medigap policy. They can’t deny you coverage, delay it, or charge you more due to health issues. (Source: medicare.gov)
If you wait longer than 6 months, you can still try to enroll in Medigap but insurance companies have the right to turn you down based on your health history. This is why it is so important that you work with our Senior65.com team to help you select the right plan when you are first eligible. Feel free to call us at 800-930-7956.
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How to Enroll in Medigap
Before you enroll in Medigap, you need to first determine which plan is right for you. Most new enrollees opt for Plan G due to its comprehensive coverage and fair price. However, you can compare several Medigap options through this link.
Once you decide which Gap plan you want, you can get a Medigap quote online right here. Yes, you can shop by price since all Medigap lettered plans have the same core benefits and access to the same doctors and facilities. When you’ve selected a plan, you can enroll in Medigap online here or over the phone by calling us at 800-930-7956.
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Quick Recap and Next Steps for Medigap
Previously, the Social Security full retirement age was 65, but now, for all people born after 1960, the full retirement is age 67. This new age, however, has not changed the rules for Medicare and Medigap at age 65. Those who wait too long will be subject to penalties.
Call 800-930-7956 for a chat with our team at Senior65.com. Medigap prices are regulated, so no one can offer the same plan from the same provider for less than Senior65.com. If you missed the window, you can still get a plan but might need to answer some health questions. For more information, read our article: “Help! I’ve Missed My Medigap Initial Enrollment Period. What Should I Do?“
Note: If you obtained Medicare before age 65 due to disability check out our Medicare before age 65 article.