Medicare 101: Retirement Age, Health Plans and You

Back in the day, many American workers anticipated that when they turned sixty-five, they would retire. I remember hearing my folks and their friends talk about what they would do when they retired. They were going to get the gold watch, collect their retirement pensions and social security and finally have some time for themselves. Travelling, golfing, gardening and spending more time with the grand kids were usually in the plans.

Fast forward to present day, and the situation is a bit different. For various different reasons, many Americans are working well past the age of sixty-five. Some are professionals or business owners who are simply not ready to “call it a day.” Others may not yet be financially prepared to live without their steady pay check. Still others have stepped out of their careers, and are working less stressful jobs until their Social Security benefits mature to the point where they feel comfortable drawing on them.

Whatever the case, there are many things to seriously consider before retiring, not the least of which is one’s Medicare options. Here are some commonly asked questions:

• When should I sign up for Medicare?
• How do I sign up for Medicare?
• Do I have to do anything specific when I turn 65?
• What if I am over 65, still working and covered under the group health plan where I work?
• What if my company offers a retiree health plan?
• How much will it all cost?

Over the next couple of months, I will be sharing some basic Medicare information through this blog. I would love to hear your questions, and I hope you will share this with your friends and family members who are preparing for their retirements. Please have them connect with me personally if they need this information in the very near future.