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  • 75 year old from Houston, TX

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  • Hi Max,

    Medicare is a series of government-funded insurance programs for senior citizens and certain other people. You are not required to get Medicare when you turn 65, nor is your existing health insurance automatically canceled. However, most often, you should strongly consider signing up for Medicare, as it provides an excellent benefit for seniors at no or very low costs. For further details, you should check out the Government's medicare information website at http://www.ssa.gov/pubs/10043.html#part1

  • Login to rate this answer:   Answered on 4/27/2010
  • NewRetirement User

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  • Not usually, If employed, you should still have your employee health insurance, but any doubts, contact your HR department to be sure.

    IMPORTANT: Be sure to sign up for Medicare PART A within the window
    you can defer PART B if you are still working.

  • Login to rate this answer:   Answered on 6/11/2010
  • NewRetirement User

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  • I m not sure I think maybe your insurance is cannelled what is the answer please

  • Login to rate this answer:   Answered on 4/26/2010
  • NewRetirement User

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  • I still need the answer please

  • Login to rate this answer:   Answered on 4/26/2010
  • NewRetirement User

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  • I'm interested in the same thing. Anyone?

  • Login to rate this answer:   Answered on 5/20/2010
  • Editorial 

    Editorial 
    NewRetirement

    San Francisco, CA

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  • There is really no reason not to sign up for Medicare Part A -- it is free and it is likely that your employer will require that you do so. The question will become whether or not you should sign up for Medicare Part B. It is very important that you speak with your employer AND with Medicare to confirm that your employer insurance is adequate.

    There are penalties for not signing up for Medicare Part B when you turn 65. However, those are waived if you have insurance but you must enroll within eight months of retiring or losing that coverage.

    This download from Medicare.gov should help you understand who pays for what between your employer and Medicare:
    http://www.medicare.gov/Pubs/pdf/02179.pdf

    We wish you all the best!
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    FREE Retirement Planning Services to improve your overall retirement plan!

  • Login to rate this answer:   Answered on 5/17/2013
**All above answers are provided as general information only. No warranty is made regarding the fitness or accuracy of the information provided in this answer. You should seek advice from a licensed CPA, attorney or CERTIFIED FINANCIAL PLANNER™ as to your unique financial situation.