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Switching Insurance Coverage to Medicare
How Do I Switch from my employer’s insurance to Medicare, now that I’m Ready to Retire?
First, thanks for taking a moment to visit our neck of the internet.
Second:
If you put off Medicare at 65 because you had coverage through your or your spouse’s employer, there’s a few steps you must take.
When it comes time to make the switch, the first thing you will need to do is get CMS Form L564. This will provide proof you had credible coverage and it will prevent you from incurring that dreaded penalty you hear everyone talking about. Once you get this form back from the HR Department you will need to go to ssa.gov and enroll in Part B. We recommend that you start this process 60-90 days before retirement as to prevent any lapses in coverage.
NOTE: If you have not enrolled in Part A when you were first eligible, you will need to go to ssa.gov and enroll.
After you have enrolled in Medicare Part B you will need to call the Benefits Coordination and Recovery Center and make sure they make the switch from your employer being primary to Medicare being your primary coverage. The number is 855-798-2627.
At that point, it will be time to start the fact-finding process to pinpoint your best option: Traditional Medicare, a Supplement, a Standalone drug plan, or a Medicare Advantage plan.
Please give us a call if you have any questions. We are here to help you in any way we can.
Part A and Part B enrollment
Part B enrollment past 65
Employer Form