Should You Delay Medicare Part B Enrollment?

[NF Insight]

There are ways where you can delay Medicare Part B enrollment beyond age 65 without getting hit with Late Enrollment Penalties. Robb and Kristen break down a few ways to accomplish this and what factors your clients need to take into consideration. As always, there are exceptions to the rule based on individual circumstances so if you're not sure if this applies to your client, give us a call and we can help!

 

[LostDollar]

Caveat, not an agent.

From a been there as a brand new Medicare Beneficiary, had that misinformation inflicted upon me by an agent perspective:
I believe it is incorrect to imply that one can sign up for Part D (without penalty) during the entire Part B employer sep. For Part D I think the penalty free enrollment period is just the 63 day gap after the end of other creditable coverage.

 

[NF Insight]

Yes, you are correct! This is where it gets a bit confusing. Most of the time you will either enroll into Medicare right away after employer coverage terminates or obtain COBRA. COBRA does not qualify as credible coverage for part b delay, but it will, in most cases, be credible for part D if you keep the COBRA drug coverage; therefore, you can use the 63 day SEP once your COBRA coverage terminates.