If you have delayed Medicare enrollment because you worked past age 65, there are some important steps to take once you are preparing to retire. These steps will help make sure you do not have to pay any penalties, do not experience any gaps in health care coverage and have the time to decide on the health care coverage that makes sense for you in the next phase of your life.
Nine Months Before Retirement
Get information about retiree coverage from your employer. Ask if you have retiree coverage and how it works with Medicare. It is also important to understand any differences between your retiree coverage and the employee coverage you have had. There may be differences in the benefits offered and the amounts you have to pay.
Six Months Before Retirement
If you have a Health Savings Account (HSA), stop any contributions to avoid tax penalties. You are not eligible to continue making contributions to your HSA after you have Medicare, but you will still be able to use the money in your account to pay for medical costs.
Three Months Before Retirement
Pick a Medicare plan that is right for you and your future.
Two Months Before Retirement
Ask your employer’s benefits administrator to fill out an employment form. This form is called CMS L564. You will need this form when you sign up for Medicare. If you have had more than one employer since you turned 65, you will need to get a CMS L564 form from each employer.
One Month Before Retirement
Sign up for Medicare about a month before your current coverage ends. You will need to have the employment form (CMS L564) that was completed by your company’s benefits administrator and the Notice of Creditable Coverage for each year you delayed enrollment when you sign up.
When you stop working, you will have an eight-month Special Enrollment Period when you can still sign up for Medicare without any late enrollment penalties.
Contact Banner Medicare so we can answer any questions you may have and even help you enroll.
Call (888) 788-1931 (TTY 711) to speak with a licensed sales agent.
Use our online form to have a licensed sales agent contact you.
Have questions or need help enrolling?
Call (833) 516-1007 (TTY 711) to speak with a licensed sales agent.
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April 1, 2023 – September 30, 2023: 8 a.m. to 8 p.m., Monday – Friday