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not sure when to enroll in Medicare in this video I'll discuss when you should enroll in Medicare depending on whether you're still working and have other coverage or whether Medicare will be your primary coverage hi there if we haven't met yet I'm Danielle Roberts co-founder here at boomer benefits and a member of the Forbes Finance Council I share my best tips about Medicare here on our youtube channel so be sure to subscribe to our channel so that you'll be notified when we post new videos if you are turning 65 soon and you aren't sure when to enroll in Medicare stay tuned every year my team and I help thousands of people with their Medicare enrollment decisions and I'm confident that we can help you too by the end of this video you'll know the best time for you to sign up so when should you enroll in Medicare the answer depends on whether you have other active health insurance let's start with people who have retired and have left their employer coverage so if you don't have other coverage and Medicare will be your primary insurance you want to enroll in both Medicare Parts A and B during your initial enrollment period this period lasts for seven months it begins three months prior to your 65th birthday month runs through that month and then extends three months afterward as long as you enroll in both a and B at this time you'll face no late penalties although Medicare gives you a seven month window for this we strongly recommend that you apply prior to your birthday so that your benefits will begin on the first of the month in which you turn 65 the reason is that if you apply after your birthday your coverage will have a delayed start date of up to three months after you apply and this could leave you without coverage in between I should also mention two additional points number one if you're already taking Social Security income benefits before you turn 65 Medicare will assume that you've retired and they're going to auto enroll you into Medicare your card will just arrive in your mailbox shortly before you turn 65 number two if you happen to have a birthday on the 1st of the month your coverage will actually start the month prior so for example if you're born on May 1st and you apply for Medicare in the three months before you turn 65 your benefits will begin on April 1st so that covers people who are turning 65 with no other coverage but what if you do have other cover if you're working for a small employer with less than 20 employees Medicare will still be your primary coverage so you'll want to enroll in both a and B during your initial enrollment period failure to do so could result in your paying for 80% of your outpatient expenses even worse you'll be subject to a late enrollment penalty later when you finally do enroll in Medicare people with TRICARE or with retiree coverage should also enroll in Parts A and B at 65 because Medicare is primary in both of those situations and your other coverage is secondary lastly some of you out there will be turning 65 while you're still working at an employer with more than 20 employees you'll have some decisions to make about when you should enroll because your employer coverage is primary you can enroll in Parts A and/or B to coordinate with that coverage most people do enroll in Part A because it doesn't cost you anything if you or your spouse has been working in paying FICA taxes for at least 10 years it doesn't hurt to enroll in Part A and let it coordinate with your group coverage it could reduce hospital spending if you have a hospital stay however since Part B and D have monthly premiums and your group coverage already provides outpatient and drug benefits you could delay those until you retire you'll have a special election period at that time to enroll in Part B and D and whatever supplemental coverage you ultimately choose now you also have the option of leaving your employer coverage while you're still working and electing Medicare as your primary insurance instead here at our agency we get lots of phone calls from people in this situation who want us to compare their employer benefits and the cost of that against the cost of Medicare with supplemental insurance I would say that about half the time it makes sense to stay with your employer coverage and delay your enrollment into Medicare however there are many times we run the numbers and we find that someone has employer insurance which is either really expensive or may have a very high deductible and in some of those scenarios it makes sense to elect Medicare instead as your primary coverage we're happy to help you assess this at no charge one caveat for people still working at a large employer if your employer insurance is a high deductible plan and you are contributing to a health savings account then you want to delay enrollment into all parts of Medicare it is not legal for you to continue contributing into an HSA when you have another form of insurance including any part of Medicare now you know when to enroll in Medicare so that you can avoid penalties but what about how to sign up and where you should apply I invite you to attend one of our free noona medicare webinars will recover all of this in detail you can find a link to register below this video if you liked this video please let me know by liking it below and commenting if it helped you subscribe and share it with your friends and we'll see you in a future video [Music]