If you're still working when you turn 65, be sure to avoid costly mistakes with Medicare

If you're still working when you turn 65, be sure to avoid costly mistakes with Medicare

If you're still working when you turn 65, be sure to avoid costly mistakes with Medicare - You could face lifelong late-enrollment penalties if you don't sign up for Medicare when you're supposed to. - The rules for enrollment when you already have insurance through your job depend partly on whether your employer is large or small. - It's important to know that once you sign up for Medicare, even if only for Part A (hospital coverage), you can no longer contribute to a health savings account. Workers who are nearing age 65 and have health insurance through their job may want to consider how Medicare could factor into their medical coverage. While not everyone must sign up for Medicare at that age of eligibility, many are required to enroll — or otherwise face lifelong late-enrollment penalties. "The biggest mistake ... is to assume that you don't need Medicare and to miss enrolling in it when you should have," said Danielle Roberts, co-founder of insurance firm Boomer Benefits. More from Personal Finance: Stock market volatility can be opportunity for investors …
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