Not enrolling in Medicare Part B a mistake for elderly people - FOX 26 News | MyFoxHouston

Not enrolling in Medicare Part B a mistake for many people 65 and older

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HOUSTON (FOX 26) -

Question I get asked more than any: I am turning 65, retired and am absolutely don't know anything about Medicare; how to apply, when to apply and where to apply. Do I need to enroll in Part B because I do not go to the doctor and do not want to pay the $99.90? Is this a big mistake?

The answer is YES!!!!

1. If you are not working "full time" and have true company benefits then one should enroll in Part "B" to keep from receiving the Part B penalty.

Part B penalty is 10% for each year you could have had Part B but failed to enroll. If it is 3 years then your penalty is 30% + $99.90. The penalty lasts for as long as the person is on Medicare or they die.

2. VERY IMPORTANT!!! COBRA and people over 65 if you are 65 or older and going on COBRA then get Part B in place before going on COBRA or you can have the Part B penalty. Medicare does not recognize COBRA as coverage based on current employment and your viewers can get the penalty.

3. Turning 65 you or your spouse are working full time and have coverage through your employer. It may be to your advantage to delay your Part B but talk with your HR department or benefits administrator before delaying Part B. Look on page 24 of your Medicare & You handbook or

Contact Toni King at http://tonisays.com/, send her an e-mail message to toni@tonisays.com or call her at 832-519-8664 (TONI).

4. All those turning 65 whether retired or "still working" and delaying Part B need to contact Social Security at 1/800-772-1213 or go to your local office to let them know if you are enrolling in Part b or want to delay Part B. ALWAYS STAY IN CONTACT WITH SOCIAL SECURITY.

 

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