When to sign up for Medicare

If you have already claimed Social Security benefits, you will be signed up for Parts A and B, by default. You don’t have to accept Part B as it comes with a monthly price but if you do accept the enrollment, the cost will be deducted from your Social Security benefits.

On the other hand, if you still haven’t signed up for Social Security, you will have to enroll by yourself in Parts A and B. The initial enrollment period of seven months starts three months prior to your 65^th birthday month and ends three months after that month.

If you still haven’t left the workforce and your employer is providing health insurance, or you have coverage under your working spouse’s employer, you may postpone the Medicare signup. But remember this! To make sure you’re not slapped with penalties, you will have to sign up for Medicare within eight months of not benefiting from your employer’s coverage anymore.