Quote:
Originally Posted by aljetmet
You are quite right. I checked with Medicare awhile ago.
As long as you request medicare to start before you reach age 65 you are in the clear.
In other words start Medicare the month you turn 65 ( or maybe the 1st day of the month after your 65th birthday) everything is fine even on cobra or a group plan such as from work.
Delay after 65 and you can pay more ie 10% more a year and you can start only Jan - Mar in any particular year ( I think)
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It's actually quite simple. They don't want people to delay just to save the part B premiums. Since there's no physical requirements, if you're relatively healthy you could save $115/mo until you need significant medical services.
To avoid the penalty, you must sign-up in the three months either side of your 65 birthday month, a seven month window. The exception is if you continue working and have employer coverage, you have eight months to sign-up when you quit working. Cobra is not considered employer coverage. The example was an odd case, normally no one would do this since Cobra is very expensive.