Enrolling in Medicare during initial period is ideal Covering The Bases

I have a Marketplace plan through the Affordable Care Act. My Medicare eligibility is this February when I turn 65. What do I need to do?

Healthcare.gov is the official website for the Affordable Care Act. This site makes the following recommendations: It is advised you keep your Marketplace plan until you become Medicare eligible. Once you are Medicare eligible, it is advised you drop your Marketplace plan and enroll into Medicare.

It is to your advantage to enroll in Medicare Parts A and B during your initial enrollment period. Your initial enrollment period is the three months prior to turning 65 and it lasts until three months after the month you turn 65. By enrolling during your initial enrollment period, you will avoid any late enrollment penalties for Medicare. It is important to avoid Medicare late enrollment penalties since these penalties are costly and you would have to pay these penalties for as long as you have Medicare.

The Affordable Care Act rules allow you to drop your Marketplace plan when you enroll into Medicare. Be advised: If you decide to keep your Marketplace plan once you enrolled into Medicare, you will lose any tax credits you were receiving. You will have to pay the full cost of a Marketplace plan and may find the cost of having a Marketplace plan is prohibitive.

You will have decisions to make about your Medicare including your supplement, prescription and/or Medicare Advantage options. You may want to contact your local SHIP program at 410-222-4257, ext. 4077, to discuss your options with a specially trained counselor. SHIP counselors do not sell insurance; rather, they provide free, unbiased information to the public.

Few people who are turning 65 do not have enough work quarters (either under their work history or a spouse's work history) for premium-free Part A. These people have other considerations and special rules about Marketplace plans and Medicare. If this is your situation, please contact your SHIP program for advice.

I have Medicaid through the Medicaid Expansion offered under the Affordable Care Act. I am turning 65 in January. Do I need to do anything?

Under the law, you no longer will be eligible for the Medicaid Expansion once you are eligible for Medicare. It is advised you consider enrolling into Medicare during your initial enrollment period to avoid any late enrollment penalties. Medicare enrollment is done through the Social Security Administration. You may contact SSA online at www.ssa.gov or by calling 1-800-772-1213.

Since you have qualified for the Medicaid Expansion, it is likely you would also qualify for some help with the cost of Medicare through the Medicare Savings Program. You may also qualify for help with the cost of a Medicare Part D drug plan. You may contact your local SHIP program at 410-222-4257, ext. 4077, to discuss your options.

Amy Rubino is the director of the Senior Health Insurance Assistance Program and the Senior Medicare Patrol for the Anne Arundel County Department of Aging and Disabilities. You may contact either program at 410-222-4257 or [email protected].

Credit: Amy Rubino