When should I start preparing for Medicare if I’m about to turn 65?

 

When should I start preparing for Medicare if I’m about to turn 65?

 

Answer

You don’t have to wait until your 65th birthday to start Medicare planning. In fact, starting a few months early can make the transition much easier.

Your Initial Enrollment Period generally begins three months before the month you turn 65 and ends three months after your birthday month. If you enroll before your birthday month, Medicare coverage generally begins the month you turn 65.

Before enrolling, consider your doctors, prescription medications, current insurance, expected healthcare needs, and budget. You’ll also want to understand the differences between Original Medicare with a Medicare Supplement and prescription drug coverage versus Medicare Advantage.

If you’re still working at 65 and have employer health insurance through your or your spouse’s current employment, different rules may apply.

Lighthouse Health Advisors can help you begin planning before 65 so you’re not trying to make important healthcare decisions at the last minute.

Key Takeaways

• Start learning about Medicare before your 65th birthday.
• Your Initial Enrollment Period generally lasts seven months.
• Review doctors, medications, costs, and coverage options.
• Employer coverage may affect when you should enroll.
• Planning early helps prevent rushed decisions.