Social Security now sets full retirement benefits at 67 for anyone born in 1960 or later, which leads many to question whether they are still eligible to enroll in Medigap insurance once they reach the age of 65. Even though full retirement is now at 67, you can still enroll in Medigap after your 65th birthday. This supplemental insurance agency in Wanatah, Indiana is going to explain more about this below.

Medicare eligibility at 65 despite waiting for Social Security

While the full retirement age for Social Security has changed, eligibility criteria for Medicare are still the same. You still need to sign up for Medicare within three months of turning 65, even if you are not planning to claim Social Security benefits until later.

If you delay your enrollment in Medicare (and especially if you don’t have other qualifying coverage), you could have to pay a lot more when you do sign up for Part B medical insurance and Part D prescription drug coverage. In order to avoid paying more than you have to, take the proactive step of enrolling in Medicare as soon as you turn 65.

If you want to keep track of all the deadlines and make sure you are enrolled at the right time, reach out to a professional supplemental insurance agency in Wanatah, Indiana.

Your Medigap enrollment window explained

The best time to enroll in a Medigap policy is during your Medigap Open Enrollment Period, which starts right when your Medicare Part B coverage becomes active and lasts for six months. This is an important 6-month window because it guarantees you the right to buy any Medigap plan in your area. Importantly, this means you cannot be denied or charged higher premiums because of any pre-existing health conditions.

Most people start their Medicare and Medigap coverage on the first day of the month they turn 65. This makes the switch to retirement a lot easier since they know they have the necessary healthcare coverage. If you are about to turn 65, now is the perfect time to start checking out your Medigap options. A supplemental insurance agency in Wanatah, Indiana can help you find the plan that works best for your needs.

How full retirement age influences your Medigap choices

When you decide to retire and start getting your full Social Security benefits (whether at 65, 67, or even later) does not affect whether you can enroll in Medicare or Medigap. When you are 65 years old and have Medicare Part A and Part B, you can pick from the same Medigap plans as anyone who is waiting until 67 to retire.

All Medigap plans are standardized, so if you see a plan with the same letter, it will give you the same basic benefits no matter where you get it from. The main difference is the price, which can vary based on where you live, your age, and your preferred insurance company. A supplemental insurance agency in Wanatah, Indiana can help you understand the pricing and coverage differences for Medigap plans from different companies so you can find the best match for your healthcare needs.

What about retirement benefits from Social Security?

People often confuse retirement benefits and Medicare. Remember that though the full retirement age for Social Security is now 67, that only affects when you can get your maximum Social Security payout. It does not influence your Medicare or Medigap eligibility. You can still start receiving Social Security benefits as early as 62, but the longer you wait (up until age 70), the more you get each month.

Looking for a Supplemental Medicare Agency in Wanatah, Indiana?

If you are ready to compare your Medigap options or looking for some advice from a trusted supplemental Medicare agency in Wanatah, Indiana, don’t hesitate to contact Senior Care Insurance Services. We will guide you every step of the way in order to make sure you have the coverage you need to enjoy your retirement years stress-free. Contact SCIS today to get started.