Offered by: Jennifer Bell – Bell Benefits, LLC
So many people are working until their full retirement age to maximize their monthly Social Security income check. When this happens, generally enrolling in Medicare is delayed because of coverage from an Employee Group Health Plan (EGHP).
If you have an EGHP that provides credible coverage for Medicare Part B and Part D, there may not be a reason to pay the extra Part B monthly premium. If you have chosen to delay Medicare Part B, there are a few things you need to do when adding Part B.
A couple of months before you plan to lose your EGHP, you need to apply for Medicare Part B. There are two forms that you need to complete for this process: form 40B (Medicare Part B application) and form L564 (Request for Employer Information).
On the form 40B, you can specify the month you want Medicare Part B to start in the Remarks section. If your EGHP covers you through the end of June, you will want Medicare Part B to start July 1. If you’re EGHP ends mid June, you want Medicare Part B to start June 1. Medicare will only start on the 1st of a month.
The form L564 will provide proof that you’ve had credible coverage since turning 65. This form needs to be done for each person applying for Medicare. If you are a couple who have both been covered on an EGHP through one person’s employment, each person needs a form L564 completed by that employer.
You can do a quick search online to find these forms or you can reach out to me and I can email them to you. As always, I’m happy to help answer any of your Medicare questions: 720-626-6524.