Is it a good idea to get Medicare if you re still working at 65?

It's a good idea to consider Medicare at 65 while working, especially enrolling in free Part A, but delaying premium-based Part B might be better if you have strong employer coverage from a large company (20+ employees) to avoid paying double premiums and HSA issues, though you must sign up for Part B later to avoid penalties. For small businesses (under 20 employees), Medicare is usually primary and you'll likely need to enroll in Parts A & B at 65. Always check with your employer's benefits administrator to compare costs and networks.

Do I have to enroll in Medicare at 65 if I'm still working?

Companies with 20 or more employees are required to continue offering health insurance to current workers and their spouses who are 65 or older. If you're insured under a plan from a company of that size, you have the option to enroll in Medicare and decline your group plan, but the employer can't force this decision.

What are the biggest mistakes people make with Medicare?

The biggest Medicare mistakes involve missing enrollment deadlines, failing to review plans annually, underestimating total costs (premiums, deductibles, copays), not enrolling in a Part D drug plan with Original Medicare, and assuming one-size-fits-all coverage or that Medicare covers everything like long-term care. People often delay enrollment, get locked into old plans without checking for better options, or overlook financial assistance programs, leading to higher out-of-pocket expenses and penalties. 

Does Medicare cost more if you are still working?

Medicare beneficiaries with incomes above $106,000 for individuals and $212,000 for married couples are required to pay higher premiums. (These thresholds are updated annually based on inflation so the amount will be different next year.)

Is there a penalty for not enrolling in Medicare at age 65?

Yes, there's a penalty for not enrolling in Medicare Part B (medical insurance) at 65 if you don't have other creditable coverage, like from a current employer, resulting in a permanent 10% premium increase for each 12-month period you delayed. Similar penalties apply to Part D (prescription drugs) if you lack creditable drug coverage, adding 1% of the national average premium for each uncovered month. Part A (hospital insurance) penalties also exist if you pay a premium for it and delay enrollment. 

NHS CONFIRMS 5 NEW Prescription Rules Starting Today — UK Seniors Must Know This!

Is it better to go on Medicare or stay on private insurance?

Neither Medicare nor private insurance is universally "better"; the best choice depends on individual needs, but Medicare often offers lower overall costs and simplicity for seniors, while private insurance excels in covering dependents and potentially offering more choice with networks/out-of-pocket caps, though at higher premiums. Medicare boasts lower admin costs and standardized coverage, but Original Medicare lacks an out-of-pocket maximum, a feature typically found in private plans and Medicare Advantage (Part C). 

Does everyone have to pay $170 a month for Medicare?

If you don't get premium-free Part A, you pay up to $565 each month. If you don't buy Part A when you're first eligible for Medicare (usually when you turn 65), you might pay a penalty. Most people pay the standard Part B monthly premium amount ($202.90 in 2026).

What are the 5 things Medicare doesn't cover?

Medicare generally doesn't cover long-term care, most dental care, routine vision services (like glasses), hearing aids/fittings, and cosmetic surgery, though it does provide strong coverage for hospital and doctor services; you can often get coverage for these gaps through Medicare Advantage (Part C) or supplemental plans. 

What is the maximum monthly income to qualify for Medicare?

Qualified Medicare Beneficiary Program (QMB)

This program helps to pay Medicare Part A and Part B premiums and copayments. It also helps to pay deductibles and coinsurance for both Part A and Part B. A single person can qualify for the program in 2025 with an income up to $1,325 per month.

What are the disadvantages of delaying Medicare Part B?

Part B late enrollment penalty

You'll pay an extra 10% for each year you could have signed up for Part B, but didn't. You may also pay a higher premium depending on your income.

What does Dave Ramsey say about Medicare?

Dave Ramsey's Medicare advice centers on planning ahead, understanding enrollment periods to avoid penalties, using Health Savings Accounts (HSAs) if possible, and supplementing Original Medicare with Medigap or Medicare Advantage (Part C) to cover gaps like dental, vision, and long-term care, stressing that mistakes can be costly and recommending expert advice for personalized choices. 

What is the average cost per month for Medicare?

Medicare costs vary, but for 2026, the standard Part B premium is around $202.90/month, Part A is often $0, Medicare Advantage (Part C) averages low premiums (around $14-$34.50), and Part D (drugs) averages around $34.50-$38/month, but all costs depend on income, plan choice, and work history. Many people pay more for Part B or Part D if they have higher incomes or delayed enrollment. 

Why are doctors dropping Medicare patients?

Physician Medicare reimbursement dropped 33% since 2000, when adjusted for inflation, according to the AMA. As a result, Ferguson said, many practices—particularly small, independent ones—can no longer afford to absorb the losses. "It's gotten to a point where you can't absorb it.

How much will Medicare cost me when I turn 65?

When you turn 65, Medicare costs depend on the parts you choose, but most people pay $0 for Part A (Hospital) if they worked 10+ years, and a standard $202.90/month for Part B (Medical) in 2026, plus 20% coinsurance for services after the deductible. Part C (Medicare Advantage) and Part D (Drugs) have separate premiums, averaging around $14/month and $34.50/month respectively in 2026, but vary by plan and income. 

What is the new Medicare rule for 2025 over 65?

Starting in 2025, there is an annual limit on what you pay out-of-pocket for prescription medications through Medicare and Medicare Advantage prescription drug plans. All prescription medications, including specialty medications, covered by Part D plans are included under this cap.

Do you need to contact Social Security when you turn 65?

No, you don't have to sign up for Social Security at 65; you can start as early as 62 or delay until age 70 for a higher monthly payment, but 65 is when you typically become eligible for Medicare, which is a separate but related process, and you should sign up around then to avoid penalties. Your Full Retirement Age (FRA), when you get 100% of your benefit, is likely 67 for most people today, but you can choose to start benefits earlier (reduced amount) or later (increased amount). 

How much money can you have in the bank when you are on Medicare?

Medicare itself doesn't have a bank account limit, but if you need help paying costs through Medicare Savings Programs (MSPs), asset limits apply (around $9,660 for individuals, $14,470 for couples in 2025) for programs like QMB, SLMB, and QI, though California eliminated asset tests for its state-run MSPs. These limits cover countable assets like savings, but your primary home and one car usually don't count. 

What happens if you can't afford Medicare?

If you can't afford to pay your Medicare premiums and other medical costs, you may be able to get help from your state. States offer Medicare Savings Programs for people entitled to Medicare who have limited income. Some programs may pay for Medicare premiums and some pay Medicare deductibles and coinsurance.

How much will Medicare premiums cost in 2025?

The standard monthly premium for Medicare Part B enrollees will be $185.00 for 2025, an increase of $10.30 from $174.70 in 2024. The annual deductible for all Medicare Part B beneficiaries will be $257 in 2025, an increase of $17 from the annual deductible of $240 in 2024.

Does Medicare pay for a colonoscopy?

Yes, Medicare (Part B) pays for screening colonoscopies, covering 100% of costs if your doctor accepts assignment and no polyps are found, though you pay 15% if they remove tissue (making it diagnostic); frequency depends on your risk, generally every 10 years (average risk) or 24 months (high risk). 

Does Medicare pay 100% of medical bills?

No, Original Medicare (Part A & B) does not pay 100% of medical bills; it uses a cost-sharing model with deductibles, copayments, and coinsurance (typically 20% for Part B services). You pay these out-of-pocket costs unless you get a Medicare Advantage plan (Part C) with a maximum out-of-pocket limit or buy Medigap (Medicare Supplement) insurance to cover the gaps, though you still pay premiums. 

What blood tests does Medicare not cover?

Medicare generally doesn't cover blood tests that aren't medically necessary, such as routine wellness panels, employment-required tests, elective tests for general curiosity, or experimental markers, though it does cover specific preventive screens (like PSA) and medically indicated diagnostic tests. You'll likely pay out-of-pocket for tests ordered without a specific diagnosis, tests done too frequently, or those for general "peace of mind," but your doctor should give you an Advance Beneficiary Notice (ABN) if a test isn't covered. 

What Medicare is free for seniors?

Part A is free if you worked and paid Medicare taxes for at least 10 years. You may also be eligible because of your current or former spouse's work.

How can I lower my Medicare premiums?

To lower Medicare premiums, report income drops from life events like retirement (Form SSA-44), apply for low-income help like Extra Help or Medicaid, use HSA funds for premiums, deduct premiums from taxes, switch to a cheaper Medicare Advantage or Supplement plan, or check if you qualify for Medicare Savings Programs (MSPs) through your state. 

What will the monthly Medicare premiums be in 2026?

For 2026, the standard Medicare Part B premium is $202.90 monthly, an increase from 2025, with higher income earners paying more (Income-Related Monthly Adjustment Amount - IRMAA) and most people paying the standard rate unless they qualify for Extra Help. Part A premiums remain $0 for most, but higher for those with fewer work credits, while Part D costs vary by plan, but the national base beneficiary premium for penalty calculations rises to $38.99.