When to delay your Medicare benefitsYou’re 65, but instead of being ready for retirement, you feel as if you’re in the prime of your career and can easily squeeze in another five to 10 years before you’re ready to call it quits. Your company provides the medical coverage you need, and you don’t see any reason to switch to Medicare just yet.
Except…you heard that you only have one shot at Medicare enrollment, and that’s during the seven-month period that begins three months before the month you turn 65, and ends three months after the month you turn 65. What can you do in order to keep receiving your group coverage and not give up your Medicare benefits? After all, you’ll still need them for when you do decide to retire.
Well, you’re in luck…
While it’s common knowledge that Medicare benefits become immediately available at the age of 65, it’s not as well-known that if you choose NOT to enroll right away because an employer currently covers you, you will have another enrollment period after you retire. Once you retire, you have an eight-month period to enroll without penalty.
So, if you feel you’re still too young to retire, by all means, keep working and know that, when you’re ready, your benefits will be waiting for you. To learn more about delayed Medicare benefits, visit: http://www.aarp.org/work/social-security/info-02-2011/enrolling-in-medicare-part-b-before-retirement.html

Wiley Long is founder and president of Medigap Advisors, and is passionate about helping people navigate the confusing waters of Medicare. He is the author of The Medicare Playbook: Designing Your Successful Health Coverage Strategy, a clear and simple explanation so you can make the most of your Medicare coverage. For more information visit www.MediGapAdvisors.com.