Cary – Neb.: I’ll be turning 65 in two months, and I am active and in good health. I have good (but expensive) employer-provided health care. My employer is a very large international corporation. I’ll not be retiring for the foreseeable future (maybe at 70). Is there any advantage for me to sign up for Medicare Part A and B at this time, or can I wait until retirement without penalties?
Phil Moeller: You can get some secondary coverage of hospital expenses from Part A, and it’s free for anyone who’s worked enough to qualify for Social Security benefits. (Part A will mess up participation in a high deductible health plan with a health savings account.) As for Part B, I’d wait. There will be no penalties when you do enroll later.