Can you opt out of medicare part b

If you are 65 and not yet receiving Social Security retirement benefits, you can still enroll in Medicare Part A by filing a form with your local Social Security Office. Part B has premiums that are deducted from your Social Security retirement benefits every month. Now Reading:. Membership My Account. Rewards for Good. Share with facebook. Share with twitter. Share with linkedin. Share using email. Leaving AARP. Many people don't want to have this amount deducted from their check every month if they have creditable coverage through an alternative source.

In addition, if you are opting out of Part B because you have creditable coverage through an alternative source employment for example you are also able to delay the start of other benefits such as supplemental insurance. By delaying these benefits using a Medicare approved reason you can save for years and then still sign up under Special Enrollment without incurring penalties. Auntie Lou says, "Be careful about delaying anything. You can opt-out of Medicare if you have creditable coverage through an employer.

Yet, this means you must get employer coverage from a larger company. Now, delaying Medicare can result in Part B penalties. Also, buying Marketplace insurance after turning 65 is costly. So, for many, Medicare makes the most financial sense. For some, not enrolling in Medicare can be a poor decision. Your Initial Enrollment Period begins three months before your sixty-fifth birthday and ends three months after you turn Thus, you have seven months to enroll.

If you choose to enroll after your Initial Enrollment Period ends, you could face a penalty. Or worse, delaying Part B could result in having to wait for the General Enrollment Period , which adds to the cost of your late penalty. Medicare is not mandatory for most people. Enrolling in Part A is mandatory to keep your Social Security benefits. Part A inpatient coverage comes at no cost to most Americans. Those who qualify for free Part A should enroll once eligible.

But, if you want to contribute to a Health Savings Account after age 65, delaying Part A makes sense. Both involve monthly premiums.