Plan B Startup

[badbye]

My S.E.P. is Jan.1st to March 31st 2017. It says my startup is July 1st. I would like to retire June 2nd. Do i have to wait till July 1st for my plan B to start. I will be 66 in February and have plan A.

 

[JC]

My S.E.P. is Jan.1st to March 31st 2017. It says my startup is July 1st. I would like to retire June 2nd. Do i have to wait till July 1st for my plan B to start. I will be 66 in February and have plan A.

I think what you are referring to is Medicares General enrollment to start Part B for those that didn't sign up when first eligible and also did not have other creditable coverage such as an employer covered plan.

If you had no other insurance then you must sign up between those dates and your Medicare part B will start July 1 and you will be also accessed a monthly penalty.

If you have health coverage from your current employer your SEP actually starts 2 months prior to you losing coverage. You will need to have your HR department fill out a SSA form to show that you have had creditable coverage since being eligible for Medicare and once turned in you can request a part B start date of 06-01

 

[MBSC]

Edit to add: It looks like I was posting at the same time as JC.

January 1 to March 31 is the General Enrollment Period (GEP) for those who did not enroll in Part B at age 65, or did not enroll in Part B when they lost their group insurance at retirement, whichever is later.

If you have a group plan through your employer, you qualify for the Special Enrollment Period (SEP) while employed and at retirement. With most large group plans if you are covered on the first of month you are covered for the entire month even if you leave during the month. So, check with your HR Department. Your group plan may cover you for the entire month of June and you could wait until July 1 to start Part B. Otherwise, you can start Part B on June 1.

(Special Enrollment Periods)

Once your Initial Enrollment Period ends, you may have the chance to sign up for Medicare during a Special Enrollment Period. If you're covered under a group health plan based on current employment, you have a Special Enrollment Period to sign up for Part A and/or Part B any time as long as you or your spouse (or family member if you're disabled) is working, and you're covered by a group health plan through the employer or union based on that work.

You also have an 8-month Special Enrollment Period to sign up for Part A and/or Part B that starts the month after the employment ends or the group health plan insurance based on current employment ends, whichever happens first. Usually, you don't pay a late enrollment penalty if you sign up during a Special Enrollment Period.

Source: https://www.medicare.gov/sign-up-ch...parts-a-and-b/when-sign-up-parts-a-and-b.html

 

[badbye]

I do have group health insurance at work and the day i retire is the day my insurance stops. I would like to retire on June 2nd and have my plan B start on the June 3rd. Is this possible? or do i have to wait till July 1st.

 

[MBSC]

Part B starts on the first of the month so you should request it start June 1. You do not have to wait until July.

 

[JC]

I do have group health insurance at work and the day i retire is the day my insurance stops. I would like to retire on June 2nd and have my plan B start on the June 3rd. Is this possible? or do i have to wait till July 1st.

Medicare always starts the first of the month so I suggest setting it up to start 06-01