I'm turning 65 (2024)

FAQs

Do I automatically get Medicare when I turn 65? ›

You'll get Medicare Part A (Hospital Insurance) and Part B (Medical Insurance) automatically when you turn 65. You'll still need to make important decisions about your coverage, like whether you need to add drug coverage.

Your FEHB coverage will continue whether or not you enroll in Medicare. If you can get premium-free Part A coverage, we advise you to enroll in it. Most Federal employees and annuitants are entitled to Medicare Part A at age 65 without cost.

Are your turning 65 soon? Turning 65 is a major milestone and pivotal age for your retirement planning. Not only is this an important age for government programs like Medicare and Social Security, but it's also a perfect time to check other parts of your financial plan, particularly if you're about to retire.

For most people, turning 65 means you're eligible for Original Medicare, Part A and Part B. You can also choose to enroll in Medicare Part C, or Medicare Advantage. If you aren't retiring, you'll need to visit the Social Security website and manually sign up for it yourself.

You don't need to notify Social Security that you're turning 65.

Part A late enrollment penalty

If you have to buy Part A, and you don't buy it when you're first eligible for Medicare, your monthly premium may go up 10%. You'll have to pay the penalty for twice the number of years you didn't sign up.

If you qualify for premium-free Part A: Your Part A coverage starts the month you turn 65. (If your birthday is on the first of the month, coverage starts the month before you turn 65.)

It's likely that you can delay Medicare enrollment, but some employers require that people 65 and older must enroll in Medicare to receive company health insurance benefits. For these smaller companies with less employees, Medicare pays first, and work-based insurance pays second.

Can I combine employer health insurance with Medicare? If you or your spouse are working and covered through an employer, you can also decide to keep this coverage and enroll in Original Medicare, Part A and/or Part B to get additional health coverage.

Generally, if you have not already started receiving retirement benefits, you will want to sign up for Medicare three months before turning age 65. This is unless you have group health coverage through a current employer.

What are you entitled to when you reach 65? ›

If you stop working and start receiving retirement benefits before age 65, you are automatically enrolled in Original Medicare (Part A and Part B) when you turn 65. If you are not receiving your Social Security benefits when you turn 65, you will need to apply for Medicare benefits three months before you turn 65.

Turning 65 is a significant milestone birthday because it means one's officially a senior citizen! This milestone birthday comes with many perks, like discounts on travel, restaurants, and more. It's also a time to reflect on life and accomplishments.

65 brings with it a newfound sense of freedom. At 65, people begin doing the things they want, when they want and how they want. Many take up new hobbies, many travel the world and many get adventurous in nature. 65 is the age to explore and try new things and that is why an experience is the best 65th birthday gift!

There's nothing special about claiming Social Security at 65; it's just one of several options between becoming eligible at 62 and qualifying for your maximum benefit at 70. Your claiming age generally locks in your benefit amount, and claiming at 65 will shrink your checks up to 13.33%.

IRS extra standard deduction for older adults

When you turn 65, you become eligible for an additional standard deduction on top of the regular standard deduction. However, the amount of this extra deduction can vary based on factors like filing status and whether you or your spouse are 65 or older.

If you don't get premium-free Part A, you pay up to $505 each month. If you don't buy Part A when you're first eligible for Medicare (usually when you turn 65), you might pay a penalty. Most people pay the standard Part B monthly premium amount ($174.70 in 2024).

If Medicare is the primary payer and your employer is the secondary payer, you may need to join Medicare Part B (Medical Insurance) before your employer insurance will pay for Part B services.

Many people choose to keep working past 65 and keep their coverage under their employer's group plan. But if you've been paying into Medicare via payroll deductions, you may as well enroll in Original Medicare Part A (hospital insurance) when you're first eligible, as you'll pay no premium.