Older than 65 and about to retire?

• While you may have access to COBRA, it is not considered credible for Medicare Part B.

• Once you stop working, Medicare will pay first and any retiree coverage or supplemental coverage that works with Medicare will pay second.

5 things to do before signing up for Medicare?

1. Ask your employer if they have retiree coverage and if yes, how it works with Medicare. You’ll want to know if your (or your family’s) current benefits will change, if they offer retirement coverage or other supplemental coverage that works with Medicare, and if any drug coverage they offer is creditable drug coverage.

2. Check when your current coverage ends and sign up for Medicare 2 to 3 months earlier. Signing up for Medicare before your current coverage ends can help you avoid a gap in coverage.

3. Ask the employer to fill out their part of the L564 form. You’ll need this extra form to qualify for a Special Enrollment Period to sign up without penalty.

4. Find Medicare plans in your area, if you don’t have retiree coverage or if the employer doesn’t offer creditable drug coverage. You will want to find suitable coverage to help with the exposure / gaps left by original Medicare Parts A & B.

5. Avoid a tax penalty, you and your employer should stop contributing to your Health Savings Account (HSA) 6 months before you retire or apply for benefits from Social Security (or the Railroad Retirement Board).

When & how do I sign up for Medicare?

• You can sign up anytime while you (or your spouse) are still working and you have health insurance through that employer. You also have 8 months after you (or your spouse) stop working to sign up.

• Your 8-month Special Enrollment Period starts when you stop working, even if you choose COBRA or other coverage that’s not Medicare.

• Your coverage will start the month after Social Security (or the Railroad Retirement Board) gets your completed forms unless you identify your employer coverage end date in the “remarks” section of the CMS40B form. In which case your part B coverage will start the first of the month after the end of employer coverage.

• To qualify for the Special Enrollment Period, you’ll need to have your employer fill out a Form CMS-L564 (Request for Employment Information). If the employer can’t fill it out, complete Section B of the form as best you can, but don’t sign it. You’ll need to submit proof of job-based health insurance when you sign up.

• The way you sign up depends on if you already have Part A coverage or if you’re signing up for both Part A and Part B. Contact us for details.