Medicare eligibility

[krishnak]

Hello All,

I am Krishna and 81 years old. I did not enroll in Medicare at age 65 as I was working and covered by the employer's insurance plans. I worked with three companies in these 16 years and one company does not exist in USA now. I am working with the current employer for the past 8 years. All through this period, my wife and I were covered by employer's insurance plans. 

I am planning to retire next year and opt for Medicare. Do I have to pay a penalty for late joining? I remember reading a clause that says if I have creditable insurance coverage for two years before joining Medicare, the penalty does not apply. 

I do not remember receiving any forms of separation from previous two companies. Will someone clarify what will be my position? Thank you

Krishna Kandala

[GailL1]

@krishnak 

Medicare Enrollment Forms 

You are gonna have to provide proof from the various employers with NO breaks in coverage that you were insured for all years from 65 on with an EMPLOYER GROUP COVERAGE.  CMS- L564

You will need this form completed for several different reasons:

1.  to give you a Special Enrollment Period (SEP) so that you have no lapse in coverage moving from the employer group plan to Medicare.

2.  to prevent you from having to pay a late enrollment penalty for Part B and Part D which will last forever.

You need to contact the SHIP office (State Health Insurance Program Assistance) in your state for help if you have problems providing this or getting your Medicare started.  

SHIP locator 

If you cannot prove every year of coverage, do as many as you can - this will count down on your penalty for late sign up.  Also it does have to be GROUP employer coverage not just some small employer plan design to cover their employees.