Medicare and postponing Part B

Options
KBL
KBL Member Posts: 2,521
edited June 2021 in Stage IV/Metastatic Breast Cancer ONLY

Quick question. Has anyone postponed Part B on your initial enrollment due to still having private insurance? I just talked to someone at Social Security, and she almost made it sound like it's a terrible idea. I wanted to postpone it to January of 2022 instead of October this year because my husband is retiring at the end of the year and still has private insurance. She said it's very tricky.

· Share on FacebookShare on Twitter

Comments

  • jhl
    jhl Member Posts: 333
    edited June 2021

    Hi KBL,

    The reason its a terrible idea is because of the penalty you could endure by delaying Part B enrollment:

    https://www.medicare.gov/your-medicare-costs/part-...

    The reason the social security person said it was tricky is because the size of your husband's employer determines if you will pay the penalty for any delay in signing up for Part A & Part B:

    https://www.medicare.gov/sign-up-change-plans/how-...

    My recommendation is to study the Medicare site, which I think is very understandable. There are lots of examples of different scenarios. Find the one that best fits you and study it carefully. Best of luck!

    Jane

    · Share on FacebookShare on Twitter
  • KBL
    KBL Member Posts: 2,521
    edited June 2021

    Thank you, Jane. My husband’s company does have enough employees for me not to get penalized, but I’m almost thinking it won’t be worth the risk since it’s only three months where I don’t need it.

    · Share on FacebookShare on Twitter
  • flashlight
    flashlight Member Posts: 698
    edited June 2021

    I think the question would be when could you add the Medicare part B? Part B takes care of outpatient and really comes in handy after your deductible. Who knows the Govt moves at a slow pace! Have you decided on what supplemental plan? My MIL has part A&B and private insurance from a retirement plan.

    · Share on FacebookShare on Twitter
  • KBL
    KBL Member Posts: 2,521
    edited June 2021

    I haven’t picked a plan yet. I have a call in to my guy who’s going to help me. I’ll talk to him next week. The lady at Social Security told me it’s tricky, and I have to sign up for it at the right time so I have it in January. If I don’t, it would be later. I don’t want that. The reason I wanted to hold off is I’m at 100% coverage right now with private, so anything I get done for the rest of the year will be free.

    · Share on FacebookShare on Twitter

Categories