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

kim7346

New member
Joined
Mar 24, 2019
Location
Minnesota
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? :confused:

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? :confused:

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

AZ Jim

Old, alone and tired...
Joined
Nov 28, 2014
Location
SURPRISE, ARIZONA
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.
 

Don M.

Well-known member
Joined
Nov 3, 2014
Location
central Missouri
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.
 

Butterfly

Well-known member
Joined
Sep 19, 2014
Location
Albuquerque, New Mexico USA
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.
 

kim7346

New member
Joined
Mar 24, 2019
Location
Minnesota
Original Poster
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).
 

Liberty

Active member
Joined
May 30, 2019
Location
Texas
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.
 

GreenSky

Member
Joined
Oct 26, 2016
Location
Las Vegas
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
 


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