1. Missing Enrollment Deadlines What happens: If you miss your initial enrollment period and do not qualify for a Special Enrollment Period (such as continuing to work and being covered by an employer group plan with 20+ employees), you will pay a permanent 10% late enrollment penalty for every 12-month period you delayed. How to avoid it: Your Initial Enrollment Period (IEP) lasts for 7 months: starting 3 months before your 65th birthday month, includes your birthday mo

Turning 65 is a significant milestone, not only because it signifies a new chapter in life but also because it brings essential decisions regarding Social Security and Medicare. Understanding your options and the necessary steps can help ensure a smooth transition into this new phase. Below, we offer a detailed guide to help you navigate the complexities of Social Security and Medicare as you turn 65. Understanding Social Security Benefits Eligibility and Enrollment Once you

Are you feeling overwhelmed by the Medicare enrollment process? Navigating through the various options and requirements can be a daunting...