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Retiring at 66. Need help with Soc Sec / Medicare signup timing

  1. #1
    Join Date
    Mar 2019
    Location
    Minnesota
    Posts
    10

    Question Retiring at 66. Need help with Soc Sec / Medicare signup timing

    Been rethinking all this, and I'm still confused about the timing. Since my husband is no longer with me, I could use some help from you folks.

    I now plan on working past age 65, and keep my employer health coverage for another year (it's cheaper, and a fairly good PPO plan -- I work for a large company). But, because I don't have an HSA, I plan to enroll in Medicare Part A -- and only Part A -- when I turn 65.

    I'll then retire at 66 (my full retirement age), apply for Social Security and enroll in Medicare Part B, a Medicare supplement plan (I'm thinking Plan N), ... and a prescription drug plan (Part D).

    Does that sound okay? I'm not good at this stuff, my partner was.

    I know when I want to retire, and that I want to go with Original Medicare -- not a Medicare Advantage plan. The thing that bothers me now is simply the timing.



    When can I sign up for Social Security . if I retire at 66? Three months before the date I plan to retire?

    How soon can I sign up for Medicare Part B, a Supplement plan, and a Part D plan? Can I sign up beforehand (before I retire) and post date them, so that they take effect the day (or the day after) I retire? Or do I have to wait until AFTER I retire and my employer coverage has stopped?

    I don't want to mess this up. Can anyone help?

  2. #2
    Join Date
    Nov 2014
    Location
    SURPRISE, ARIZONA
    Posts
    8,463
    All very good questions for social security to answer. Contact them and don't seek layman advice, like you said you don't want to mess up.

    ALONE NOW....TAKING IT DAY BY DAY!! RIP BABY...

  3. #3
    Join Date
    Nov 2014
    Location
    central Missouri
    Posts
    5,287
    Quote Originally Posted by kim7346 View Post
    I don't want to mess this up. Can anyone help?
    I agree with AZ Jim....schedule a meeting with your local SS office, jot down any/all concerns you might have, and get the Correct information directly from SS/Medicare representatives. Everyone's SS/Medicare situation is somewhat different, so your best bet is to go directly to the source.
    Things get better with age....I'm approaching Magnificent.

  4. #4
    Join Date
    Oct 2016
    Location
    Ohio and SW Florida
    Posts
    69
    I think you will find Medicare to be much less expensive than your company’s health insurance plan.....and better.

  5. #5
    Join Date
    Sep 2014
    Location
    Albuquerque, New Mexico USA
    Posts
    9,864
    Quote Originally Posted by Don M. View Post
    I agree with AZ Jim....schedule a meeting with your local SS office, jot down any/all concerns you might have, and get the Correct information directly from SS/Medicare representatives. Everyone's SS/Medicare situation is somewhat different, so your best bet is to go directly to the source.
    OR, you can schedule a telephone appointment through the SS 800 number. I've gotten better and more accurate information information that way than from my local SS office, whose employees do not seem to know or care very much.

  6. #6
    Join Date
    Mar 2019
    Location
    Minnesota
    Posts
    10
    Starting to wonder if it would be easier for me to just drop my employer coverage and sign up for Medicare Part A, B, and a Supplement plan this fall, when I turn 65? Would that be less of a hassle? Don't trust our HR department (offsite, corporation).

  7. #7
    Join Date
    May 2019
    Location
    Texas
    Posts
    22
    Kim... probably better to do what you suggested. Don't forget plan "D" (drugs) ...even though you might not use it now, there is a penalty if you don't take it up front. Have a friend that didn't take it and now she is penalized over 50 bucks a month for not picking it up.
    Don't get even get odd.

  8. #8
    Join Date
    Oct 2016
    Location
    Las Vegas
    Posts
    210
    Quote Originally Posted by kim7346 View Post
    Starting to wonder if it would be easier for me to just drop my employer coverage and sign up for Medicare Part A, B, and a Supplement plan this fall, when I turn 65? Would that be less of a hassle? Don't trust our HR department (offsite, corporation).
    It really depends on what you're paying for the group plan. Medicare and Plan N supplement will be about $225/mo and a basic drug plan another $20. This is paid AFTER tax where your employer coverage is before tax.

    However, the potential out of pocket costs using the scenario above is likely to be under $350 a year against the potential out of pocket costs from an employer plan.

    I'm definitely not licensed in Minnesota but have access to rates from every carrier. Send me a PM if you wish and I'll be happy to at least give you enough information to make an informed decision.

    Rick

Please reply to this thread with any new information or opinions.

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