b'Associate News HOW, WHEN and WHERE By David Leo,Should I Sign Up For MEDICARE?President of WMI MutualInsurance Company& WMI TPAWHENOnce you have signed up for Medicare Part A and should I apply?Part B, you can either add a Medicare Supplement (aka Medigap) plan with a private insurance com-Some people get Medicare Partpany (like WMI), or you can switch your Original A and Part B automatically, but most people have to proactively sign up for those coverages. If youre approaching age 65 and not already receiving benefits fromMedicare to a Medicare Advantage (Part C) plan Social Security or from the Rail- with a private insurance carrier. If you know you road Retirement Board (RRB), youwant to elect a Medicare Advantage plan when you should contact the SSA about threefirst enroll, you simply need to choose yourmonths before your 65th birth- Advantage plan during your initial enrollment period day to sign up for Medicare. It is(the three months before your Part B starts). If recommended that you sign up foryou decide down the road you want to move to an Medicare even if you dont plan toAdvantage plan, youll need to wait until the annual retire at age 65 since Part A is freeenrollment period (October 15December 7) (for pretty much everyone) and theand your Medicare Advantage coverage will additional coverage you get frombe effective on January 1 of the new year.having Medicare Part A (even while still actively working) offers extra financial protection. HOW In contrast to Medicare Part Ado I apply?which is premium free, MedicareEnrolling in Medicare Part APlan B Part B is voluntary and carries aand Part B can be done onlinesame asmonthly premium cost ($175 inat ssa.gov/medicare. Keep inPlan A + Plan C 2024). Importantly, you are onlymind that even though thePlan Aeligible to sign up for Part B dur- full retirement age for Coinsurance ing designated enrollment periodsSocial Security is no & Hospital Types of and if you dont enroll in Part Blonger 65, you should signPlan D Medigapwhen youre first eligible for it, up for Medicare Part Ayou may have to pay a late enroll- three months before yourPrivate Insurance ment penalty that lasts for as long 65th birthday. Plan F Companiesas you have Part B coverage Finding a MedicarePlan N(10% per 12-month delay). Also,Advantage plan or a your date of Medicare Part BMedigap policy is a simplePlan Menrollment determines your process using Medicares Part B effective date, so enroll prior to your 65 thbirthday if youplan compare tool at Plan Ldont want a gap in coverage.medicare.gov. If you want toPlan Genroll in a MedicareAdvantage Part C plan, Plan KWPMA News / Winter 202359'