5. Do you have health insurance through your or your spouse's job?
If your group health coverage is through a company with 20 or more employees, you can delay signing up for Medicare without penalty, provided you sign up within 8 months after that employment or coverage ends. If you get insurance through a smaller company, you will probably need to sign up for Part A and B as soon as you are eligible.
6. Do you get your insurance through the Affordable Care Act (ACA)?
Switch to Medicare when first eligible or face lifetime late enrollment penalties of 10% a year. You might be tempted to stick with an ACA plan if tax credits make it seem cheaper than the Medicare Part B premium, but once you are 65, you are no longer eligible for that tax credit.
7. Are you covered by COBRA?
COBRA coverage you buy after you leave a job does not count as "creditable coverage" under Medicare rules. Once your employment or employee coverage ends, you have 8 months to sign up for Medicare or risk penalties.
8. Do you have retiree health insurance?
You have to sign up for Medicare Part B when you are eligible or face a penalty.
Keep reading for the next set of Medicare choice questions.