If you work past age 65 and continue health care coverage under your employer’s plan, be aware of a potential Medicare trap. After you retire, you will have to enroll for Medicare Part B coverage no later than eight months after your employment or group health coverage ends, whichever comes first. If you terminate employment, go on COBRA, and wait until your health coverage ends before you enroll, it may be too late to avoid permanent Medicare cost increases.
For some good information about your personal situation and Medicare’s enrollment rules, go to medicare.gov. Under “Search Tools,” click on “Find out if you are eligible for Medicare and when you can enroll.” Call us with questions.