Medicare and Still Working...

I signed up for Medicare A before my 65th birthday. If I receive social security at 66 and continue to work with employer-paid health coverage, do I have to sign up for Medicare B and D at the time I start receiving social security?

Wendy's reply: No.... Take Medicare Part A, it's free and gives you another level of coverage.

If you are employed, at 65, you can say "No Thank You" to Medicare Part B (it costs about $110/mo.. so why pay when you are employed and have employers coverage?)

When you retire, Social Security will give you a waiver form for the employer to complete. They have to say you just retired... to waive the penalty for not enrolling at age 65.

HOWEVER --

If you choose not to take Medicare Part B, for no reason (just to save money, or you think you might not need it) -- you'll have problems.

A few years later, you want to sign up, contact Medicare, and they will penalize you 10% higher premiums for every year you waited, for the rest of your life. Wait 3 years -- you pay 30% higher premiums for the rest of your life.