Is Medicare mandatory at 65?

You won't get arrested for skipping Medicare at 65. But the consequences of delaying without a good reason can follow you for years, so it's worth understanding what 'optional' actually means here. If you're still working and covered by a large employer's group health plan, you may be able to delay Medicare without penalty. That's considered creditable coverage, meaning it counts in Medicare's eyes and protects you from late fees. If you retire or lose that employer coverage, you'll have a Special Enrollment Period to sign up without penalty. Where it gets expensive is when people simply forget, assume they don't need it yet, or go uninsured after leaving work. Missing your Initial Enrollment Period without qualifying coverage can add a 10% penalty to your Part B premium for every 12-month period you were late, and that penalty is permanent. Part D, which covers prescription drugs, has a similar late penalty. So Medicare isn't legally required, but the financial case for enrolling on time is strong. If you're unsure whether your current coverage qualifies, talk to your HR department or a licensed Medicare agent before your 65th birthday.

Related Medicare Resources

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• Medicare Supplement Plan G
• Compare Medicare Plans