Should you get Medicare Part B when you are first eligible? Many people should, but there are plenty of folks that could and SHOULD delay Medicare Part B – and can do so without a penalty.
Stephanie Abt explains Medicare Part B, and reviews some situations in which you would want to DELAY or drop Medicare Part B, and how to do so. For example, if you are going to be working past age 65 you may want to delay Medicare Part B. When you DO add Medicare Part, you'll have a new Medicare Supplement Open Enrollment Period that you can take advantage of.
Forms you'll need when you sign up for Part B if you've delayed it:
Stephanie Abt is a Medicare Consultant located in Austin, Texas. As an Independent Insurance Broker, she help folks nationwide with Medicare. You can always give us a call at any time – our service is completely free. (888)465-9728, or email [email protected].
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If you enroll in Part B before you actually need it, you may miss out on an open enrollment period for Medigap plans. Make sure you are informed before you enroll!
Do you really need Medicare Part B. You didn’t answer the question!
Independent Jack – it depends. If you are actively working and receiving employer health benefits, or your spouse is actively working and you are covered on their employer health plan then you can delay Part B with no penalty. Otherwise you typically DO need to get Part B once you’re eligible or else you will face a penalty.
Does that help to answer the question?
Hi Stephanie …I’ve had coverage on Veterans Benefits for the last 15+ years..All my prescriptions and Refills are covered.
Medicare (A) started 2012 “OK”
Medicare (B) 2014 Question?…Do I need to continue (PART B)?
I”m 71 years old and could really use the money paying for premiums..
P.S.–Because of my VA coverage, I’ve never had to use (PART B)..and will continue my V.A. Benefits until end of life..Thanks!
You are not required to have Part B if you have VA benefits. However, having Part B of Medicare allows you the freedom to use non- VA providers if you would like to. If you decline Part B now and then wish to re-enroll in the future you may face a penalty.
I hope his helps!
@Abt Insurance Agency Appreciate your quick reply..You are very helpful and I’m seeing Part B in a different light now.Thanks so much!
very well done answered all my concerns except,, what is the penalty for delaying part b,,is it a one time fee or does premium become higher for ever,,thankyou
joe blow the Part B penalty is 10% for each year/each 12 month period you should have had Part B but did not take it. It will be added on to your standard Part B premium for the rest of your life.
Stephanie I turn 65 in aug and my I have blue cross bs through my spouse. So would it benifit me to only sign up for part a and not b. also I have herd that bule cross can make you sign up for part b
click411 great question! Is your spouse actively employed? Does his employer have more than 20 employees? If so you can delay Part B without a penalty. However, you will want to check into how much you are currently paying for your portion of the Blue Cross employer health plan… if it’s pretty inexpensive then you may want to delay Part B and keep that current plan. If it’s over a couple hundred dollars per month you may save some money and get better coverage overall by going into Medicare at age 65. It will depend on your specific situation, and I would be happy to help you figure that out! Feel free to email [email protected] or call me at 888-465-9728.
Stephanie, what if I am disabled and collecting ss, but I have insurance thru my husbands work? can I still decline part B?
If your husband is an active employee, and the insurance through his job is not COBRA/retiree insurance, then YES you can delay Part B with no penalty!
@Abt Insurance Agency Thank you for your quick reply!
Is there any advantage of getting part B and keeping the insurance through my husband’s work? Is there any disadvantages as well? would one cancel out the other? I was told that because his insurance has less than 100 employees, Medicare would be primary.
Susan Kenney if his employer has less than 20 employees then he needs to get Part B. If not he can delay it. Enrolling in Part B before necessary usually isn’t worth it. When you first enroll in Part B you trigger your Medicare Supplement Open Enrollment window. This is a one time window you get for Medicare Supplement Plans. If you enroll in Part B now that window may be closed once you’re ready to get a Medicare Supplement Plan. Of course, every situation is different. Feel free to call or email me with further questions, I’d be happy to help!
888-465-9728 or [email protected].