Turning 65 and No Employer Insurance? Here’s What You Need to Do

If you’re turning 65 and don’t have employer insurance, it’s time to make a take action about your health insurance.

Getting started with Medicare can feel overwhelming, but with a few straightforward steps, you can set yourself up and avoid the penalties.

Here’s what you need to know to get started.

Step 1: Enroll in Medicare Part A and Part B During Your Initial Enrollment Period (IEP)

Your first step is to enroll in Medicare Part A and Part B, also known as "Original Medicare."

Here’s a simple breakdown of each part:

• Medicare Part A helps cover hospital-related costs, including inpatient hospital stays, skilled nursing facilities, hospice care, and some home health services.

  
  

  • For most people, Part A is premium-free that means no additional costs to enroll.

    
    

• Medicare Part B covers doctor visits, outpatient care, preventive services, and other medically necessary services.

  
  

  • Unlike Part A, Part B has a monthly premium.

Are you collecting Social Security Benefits?

If YES, you do not need to go enroll yourself!

You will be automatically enrolled in Medicare Part A and B, just keep an eye out for your Medicare card to arrive in the mail.

If you are NOT collecting Social Security Benefits then follow the steps below.

You need to sign up for Parts A and B during your Initial Enrollment Period (IEP), which is a 7-month window that includes:

• Three months before your 65th birthday,

• The month of your 65th birthday,

• And three months after.

Why is this important? 

Missing this window could mean late penalties that add up over time and a delay in your coverage. So, if you’re nearing 65, don’t wait to get started—enroll within your IEP to avoid extra costs.

Step 2: Choose Additional Coverage to Help Cover Out-of-Pocket Costs

While Original Medicare covers a lot, it has high out of pocket costs. Out-of-pocket costs like deductibles, coinsurance, and copayments. To manage these expenses, consider adding one of these types of coverage:

You can only add one and sometimes this is your only chance to enroll so listen -- read carefully.

Medicare Supplement Insurance (Medigap):

• Medigap plans are designed to cover the "gaps" in Original Medicare, such as copayments and deductibles. These plans offer added financial protection, especially if you have frequent medical needs.

Medicare Advantage (Part C):

• This option bundles the benefits you receive from Part A and Part B into one plan through a private insurance company that is by Medicare. Many Medicare Advantage plans also include extra benefits like prescription drug coverage, vision, and dental.

Step 3: Consider Medicare Part D for Prescription Drug Coverage

Prescription drug costs aren’t covered under Part A or Part B, so you’ll need to add Part D.

Like Parts A and B, there’s a late enrollment penalty if you delay signing up for Part D without other creditable drug coverage.

Next Steps: Enroll Now and Secure Your Coverage

Enrolling in Medicare can feel like a big task, but by taking these steps now, you’ll secure comprehensive coverage and avoid the stress of late penalties and delayed care.

Start by visiting Medicare.gov or consulting your "Medicare & You" handbook to walk through each step in detail.

Remember, taking action during your IEP will ensure your health coverage is ready when you need it.

Don’t put off this important decision—enroll now and enjoy the confidence of knowing your health care is in place.