Medicare Plan Part B Eligibility
If you are Medicare eligible and retired, or are thinking about retiring, then now is the time to make sure you enroll in Medicare Plan Part B. Here’s 3 reasons why.
Benefits of Enrolling in Medicare Plan Part B:
- Any employee or former employee who is not enrolled in Part B and is eligible, will be at risk of having a coordination of benefit problem with their insurance carrier as well as could be subject to fines and additional costs in the future.
- From the day that you retire, for the next 8 months, there is a window called the SEP, in which you are entitled to enroll in Medicare Plan Part B. This is the maximum window of time that will allow them to enroll without needing a special qualifying situation.
- If you have stopped actively working more than 8 months ago, you will need to use the General Enrollment Period to enroll to the Part B Plan which takes place from Jan 1 through March 31 of each year. Enrolling during the GEP means that your Part B coverage will start July 1 of that same year and you may be subject to a late enrollment penalty.
Here is how you enroll in Medicare Part B in New York when coming off of an employer plan:
Fill out the following forms:
– CMS 40B (Application for enrollment in Medicare)
– CMS L564 (Request for employment information)
You or your spouse will fill out and sign CMS 40B while your employer will fill out CMS l564. Both forms will need to be submitted to your local Social Security office.
The Medicare Enrollment Process in New York is very confusing, but we make it Easy. As a New York City or Long Island resident, you may not know how easy it is to enroll with Plan Medicare. Here are some steps to get you enrolled quick!
- We’ll start with a free Medicare consultation, and a meeting with our expert Medicare advisors.
- We’ll go over the education you might need, as well as break down all of Medicare’s costs and fees. This milestone is not as scary as it sounds, just contact us and we’ll get you on the right track.
- We keep you up to date all through the year on changes and updates to our plans
So if you are 65 or older, and have not had the opportunity to enroll for Medicare Part B Plan, then give us a call at your earliest convenience! We have agents ready at all hours of the day to help with any questions.