Frequently Asked Questions #4

February 6, 2017

I will be turning 65 in 2017.  Will I automatically be signed up for Medicare Part A and Part B?  If you are already getting benefits from Social Security or the Railroad Retirement Board (RRB), you will be automatically signed up for Part A and Part B of Medicare. Your Medicare will begin on the first day of the month you turn 65, unless your birthday is on the first day of the month. In this case your Medicare will begin the first day of the month prior to you turning 65. If you choose to not keep Part B because you are on employer insurance, or for any other reason, you will need to notify Social Security of your wishes.

 

Will I automatically be signed up for Medicare Part A and Part B if I am not getting benefits from Social Security or the Railroad Retirement Board?  If you are not getting benefits from Social Security or the RRB and wish to sign up for Medicare, you will need to sign up on your own. You can sign up for Part A and/or Part B by contacting Social Security or going online to socialsecurity.gov/retirement.  Remember, if you don’t sign up for Part B when first eligible, you may be charged a penalty if you choose to enroll at a later date. There are exceptions to this rule, such as being on employer insurance.

 

How do I pay my Part B premiums?  For most people turning 65 in 2017 the Part B premium is $134 per month. If you are already drawing your Social Security, the Part B premium will be deducted from your Social Security check. If you are delaying taking your Social Security benefits and enroll in Part B, you will be asked to pay the Part B premium quarterly.

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