When should I apply for Medicare Part B before retiring?

When you retire, apply for Medicare Part B during your 8-month Special Enrollment Period (SEP), which starts the month your job or group health coverage ends, to avoid penalties, typically right after leaving your job or losing coverage, even if you're over 65. You can sign up anytime during this SEP, and your coverage generally begins the first day of the month after you apply, but waiting too long (past the 8 months) can trigger late enrollment penalties.

How long before retirement to apply for Medicare Part B?

You should apply for Medicare Part B before retirement if you aren't covered by your or your spouse's current employer health plan, to avoid penalties; otherwise, you can delay enrollment until you stop working, using a Special Enrollment Period (SEP) to sign up without penalty within 8 months of losing coverage, but act quickly at 65 to get benefits when you turn 65, or you risk late enrollment penalties unless you're covered by that active employer plan. 

How much in advance should I apply for Medicare Part B?

Generally, you're first eligible to sign up for Part A and Part B starting 3 months before you turn 65 and ending 3 months after the month you turn 65. If you sign up for Medicare, stop your Marketplace coverage so it ends when your Medicare coverage starts.

How long does it take for Medicare Part B to be approved?

Medicare Part B approval typically takes 1 to 3 months, but can vary; during Initial Enrollment, it might be around 6 weeks, while high application volumes or incomplete forms (like needing the Employer Coverage form CMS-L-564) can extend it to 8 weeks or more, with coverage starting the month after approval, or even sooner if signed up during your Initial Enrollment Period. 

How do I add Medicare Part B if I already have part A?

To add Medicare Part B when you have Part A, you'll generally sign up during a specific enrollment period (like Jan-Mar for General Enrollment or a Special Enrollment Period if you have job coverage), complete the CMS-40B form, and possibly the CMS-L564 form (if using employer coverage as a reason for a SEP) to apply online, by mail, or in person with the Social Security Administration (SSA) to avoid penalties. 

Working past 65? Avoid these HUGE Medicare mistakes.

Is it better to apply for Medicare Part B online or in person?

If you have been working past 65, are covered by group health insurance, and ready to retire and enroll in Medicare, you can apply for Medicare Part B (and A if you don't have it) 3 months before your group insurance stops. For this type of application, the best way to apply is still the online application.

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. 

What is the fastest way to apply for Medicare Part B?

Online (at Social Security) – It's the easiest and fastest way to sign up and get any financial help you may need. (You'll need to create your secure my Social Security account to sign up for Medicare or apply for benefits.) Contact your local Social Security office.

What is the standard monthly premium for Part B?

For 2026, the standard Medicare Part B premium is $202.90 per month, an increase from the 2025 rate, though some people pay more (Income-Related Monthly Adjustment Amount, IRMAA) or less due to "hold harmless" rules. The exact amount depends on your income and when you enrolled, with higher earners paying significantly more and some beneficiaries shielded from large increases by Social Security cost-of-living adjustments. 

How do I apply for Medicare Part B?

To apply for Medicare Part B, you'll use Form CMS-40B (Application for Enrollment in Part B), either online via the Social Security website, by mail, fax, or in person at a Social Security office, often alongside Form CMS-L564 (Request for Employment Information) if you're using a Special Enrollment Period due to job-based coverage, with Part B covering outpatient care, preventive services, and medical equipment. 

Can Medicare Part B be added at any time?

No, you generally can't enroll in Medicare Part B anytime; you have specific enrollment periods, like your 7-month Initial Enrollment Period (IEP) around turning 65, but if you miss it, you can use a Special Enrollment Period (SEP) if you're still working and have employer coverage, or sign up during the General Enrollment Period (GEP) from January 1 to March 31 annually, though this often leads to late enrollment penalties. 

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 to do 6 months before turning 65?

Six months before turning 65, focus on planning for Medicare and Social Security: research Medicare (Parts A, B, Advantage, Supplement, Part D), understand your Initial Enrollment Period (IEP), review your Social Security statement, and budget for retirement, deciding on when to start benefits and how Medicare integrates with existing work coverage. 

How much do you have to make to get $3,000 a month in Social Security?

To get around $3,000/month in Social Security, you generally need a high earning history, around $100,000-$108,000+ annually over your top 35 years, but waiting to claim until age 70 maximizes this amount, potentially reaching it with lower yearly earnings, say under $70k if you wait long enough, as benefits are based on your highest indexed earnings over 35 years. The exact amount depends heavily on your specific earnings history and the age you start collecting benefits. 

What is the income limit for Medicare Part B?

There's no income limit to qualify for Medicare Part B, but higher incomes mean paying higher premiums (IRMAA) on top of the standard amount; for 2026, individuals earning over $109,000 (or $218,000 married filing jointly) pay more, with tiers increasing the monthly cost based on your income from your 2024 tax return, using 2023 income data. 

What is the most popular medicare supplement plan?

The most popular Medicare Supplement (Medigap) plan for new enrollees is Plan G, offering comprehensive coverage similar to the old Plan F but without covering the Medicare Part B deductible; however, Plan F remains popular for those already enrolled, while Plan N is also a top choice for lower premiums in exchange for some copays and deductibles, according to Boomer Benefits and KFF.
 

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). 

Do I need an appointment to apply for Medicare Part B?

Appointments are strongly recommended so that you can avoid delays and waiting in line. Call Social Security at 800-772-1213 to make an appointment at your local office. Visit https://secure.ssa.gov/ICON/main.jsp to find the address for your local office. to enroll in Medicare over the phone.

How long does it take to get part B Medicare approved?

Medicare Part B approval generally takes about 2 weeks to 2 months, depending on when you apply (Initial, Special, or General Enrollment Period) and how you apply, with online applications often showing up in your account quickly but mail taking longer. If you're automatically enrolled (due to receiving Social Security benefits), it's seamless, but if you sign up manually, expect several weeks for confirmation and your card to arrive. 

Who is the best person to talk to about Medicare?

Talk to someone

You can also: Call us at 1-800-MEDICARE (1-800-633-4227). Help from Medicare is available 24 hours a day, 7 days a week, except some federal holidays. TTY users can call 1-877-486-2048.

What are the three words to remember for a Medicare wellness exam?

For a Medicare Wellness Exam's cognitive test, the three common words to remember are often "banana," "sunrise," and "chair," used in the Mini-Cog screening to check your memory and thinking skills; you say them immediately and then recall them after a few minutes. 

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. 

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.