Sign clients up for Medicare A and B
How to sign clients up for Medicare A and B
Sign clients up for Medicare A and B- who needs to sign up
- Medicare A and B will begin the first of the month someone turns 65
- Those that have been receiving social security payments at least 4 months before they turn 65 will get Medicare A and B automatically.
- If the applicant has not been receiving Social Security payments 4 months before they turn 65, they will need to sign up for A and B. They will not get it automatically.
- Here is the link for those that need to sign up online CLICK HERE FOR TO SIGN UP FOR MEDICARE ONLINE
- Note: If your client is over age 65, they cannot sign up for Medicare part B online. They must go to their local social security office to do that.
- Medicare billing for part B
- For people who already receive Social Security payments, Social Security will automatically deduct the part B premium from their SS check.
- For those not receiving Social Security payments, they will be billed quarterly for part B
- An auto pay is available for those not taking SS payments Medicare Easy Pay
Sign clients up for Medicare A and B – Who should enroll in Medicare Part B...
- If someone is working and receiving health benefits through work or through a working spouse, they do not need to sign up for part B of Medicare. (Assuming they will continue to get work benefits)
- If they stop actively working or if the spouse they get benefits through stops actively working, they need to sign up for Medicare Part B.
- Retiring is a special election for Medicare Part B. They need to bring a completed Employer Verification Form to the Social Security office to sign up for B. The effective date will be the first of the month after they retire
- If they are still actively working but no longer receive coverage, that qualifies as a special election to sign up for Medicare Part B.
- There is an 8 month window to sign up for Part B. This starts on either the date they retire or the date they lose coverage.
- Failure to sign up for part B under either of the scenarios above will lead to a Part B penalty (10% of part B premium for every 12 months they did not have part B) and likely delayed part B enrollment because they will not have a special election and will need to sign up during the Medicare Part B general enrollment period (Jan 1 through March 31 sign up period for a July 1 start date)
- Click here for employment verification form
Sign clients up for Medicare A and B- Employer groups with less than 20 employees
- According to Medicare, someone employed by a group with less than 20 employees needs to sign up for both Medicare A and B at age 65. This is true even if they have coverage through work and are still working. In reality, I have had a number of people working at groups of less than 20 delay part B enrollment. Those people have not paid a penalty when they enrolled in B later down the road. They also did not have any issue with the special election to enroll in B. Regardless, the Medicare rule says they should enroll when turning 65. Up to you how you choose to advise your clients with this situation.
Sign clients up for Medicare A and B – contributions for those on Medicare A and B
- People who have Medicare A and/or B are not supposed to contribute to an HSA account. If they are audited, they may receive a penalty. This means; the contributions they made will be included in their taxable income. They will also pay a 10% penalty on the contribution.
Sign clients up for Medicare A and B – CLICK HERE TO LEARN MORE ABOUT HOW TO GET STARTED ON MEDICARE