Let's go through a checklist for Medicare Part A:

Do you remember looking at your paystub and seeing the deductions that you paid to Social Security? Think of those payroll deductions as a prepayment to Medicare Part A. Most people that have worked for at least 10 years won’t have to pay anything for Medicare Part A when they enroll.

1). Do I enroll in Medicare Part A when I turn 65?

  Medicare Part A is the Hospital Insurance portion of Medicare.

  It helps cover:

* Inpatient care in hospitals

* Skilled nursing facility care

 Hospice care

 Home health care

Most people sign up for Part A when they turn 65, even if you are still enrolled in an employer health coverage plan. Enrolling in Part A would help cover costs an employer health plan does not cover, meaning you could have lower out of pocket expenses.

There is an exception if you have a Health Savings Account (HSA). You won’t be able to continue contributing after enrolling in Medicare. Consider which is the better option for you, enrolling now or waiting a bit.

2). Do I enroll in Medicare Part B when I turn 65?

  Medicare Part B is the Medical Insurance portion of Medicare.

It helps cover:

* Services from doctors and other health care providers

* Outpatient care

* Home health care

 *Durable medical equipment ( like wheelchairs, walkers, and other equipment)

* Many preventive services ( like screenings, shots or vaccines, and yearly “Wellness”)

Unlike Part A, Medicare Part B does have a monthly premium you have to pay to Social Security. For most people this premium for 2022 will be less than $171 a month, although the monthly premium could be higher for high income earners.

If you do not have health coverage, you may want to consider signing up for Part B when you sign up for Part A.

If you do have other health coverage though - like through your employer or your spouse’s employer, you might want to wait to enroll into Part B. (Please note, if the employer has 20 employees or less, you are not able to put off enrolling in Part B).

Even if you have employer coverage, you might want to compare your health coverage options for Medicare ( Original Medical + Medicare Supplements or an Advantage plan), many people receive better benefits and are able to save money, but please do a comparison before you decide.

Note, that if you put off enrolling in Medicare Part B without other health coverage, you could begin to accrue penalties that you will have to pay when you finally sign up for Part B. These penalties can be significant, 10% of your monthly Medicare Part B premium for every full year you deferred enrolling in Part B.

3). How and When do I enroll?

  You are eligible to sign up for Part A and/or Part B 3 months before your 65th birthday month and up to 3 months after your 65th birthday month. You need to sign up through Social Security, and their website is the easiest option for enrolling. Within a few weeks you will receive your Red, White and Blue Medicare Card. Medicare will be effective the first day of your 65th birthday month.