Is There An Advantage To Delay Enrollment in Medicare Part B Plan?

No matter whether you choose to decline or delay your enrollment, there are consequences for that decision and all aspects should be taken into consideration before making a determination to delay coverage,and will affect whether or not you should delay your enrollment in Medicare Part B.

Do you currently have Private Group Health Coverage? Do You Need Medicare Part B?

Since most participants in Medicare Part B have to pay premiums, it can be easy to see why one would want to delay enrollment if one is currently covered by a private group health policy. The most important factor is to determine how that coverage is arranged. If you and/or your spouse is working and the group insurance is through work, there is no problem with delaying enrollment in Medicare Plan Part B. If, however, the insurance is being provided because of retirement from a union or employment, then there will be negative consequences for not enrolling in Medicare Plan Part B at the appropriate time.

When is the Private Group Health Coverage ending?

Within 8 months of either retirement or the cessation of Group Health Coverage, the recipient is required to enroll in Medicare Part B. The determination of date is based on which of the two event occurs first and then the 8 months is calculated.

Are You Disabled and Currently Covered by Private Group Health Insurance?

If you are currently disabled and covered by private group health insurance either through your work or through a family policy, then you may qualify for a special enrollment period. If you did not enroll during the special enrollment period, your option is to wait until the next General Enrollment Period which occurs each year from January 1st until March 31st. The disadvantage of waiting to register during this period is that coverage does not commence until July 1st and you may have to pay a higher premium.

Related posts

1. Is There An Advantage To Delay Enrollment in Medicare Part D Plan?
2. Why Do Some People Delay Enrollment in Medicare Part D Plan?
3. Why Do Some People Delay Enrollment in Medicare Part B Plan?
4. Do I Have Rights When Buying A Medigap Plan During Open Enrollment?
5. Can I Delay My Medicare Coverage?

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