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Turning 65 in 2025? You're Eligible to Claim Medicare, but Should You?

Jacob King
January 15, 2025

You’re Eligible for Medicare this Year

Medicare eligibility begins at age 65, and you can sign up for coverage beginning three months prior to your 65th birthday. It pays to enroll in Medicare on time, because if you don’t, you could end up subject to costly penalties making your premiums forever more expensive.

But You May Not Have to Sign Up for Medicare

Just because you’re turning 65 this year doesn’t mean you’re going to retire. If you plan to keep working, you may continue to have access to a group health insurance policy through your employer. If you’re happy with that coverage and want to keep it, you can delay your Medicare enrollment and avoid a late signup penalty. But, if you’re not happy with your group plan, you’re allowed to work and get health coverage through Medicare at the same time.

Furthermore, if you’re keeping your group health coverage through your employer, you may want to sign up for Medicare Part A regardless. Though you’ll pay premiums for Parts B, D, and Supplemental, Part A is generally free for enrollees. Signing up could give you access to secondary insurance that may pick up the tab for hospital care your primary insurance doesn’t cover.

That said, once you enroll in Medicare, you won’t be eligible to contribute to a Health Savings Account (“HSA”). Keep this in mind when making your decision and be sure to turn off any automatic contributions you may have scheduled if you choose to enroll in Medicare.

We Are Here to Help

As you get ready to celebrate your 65th birthday, keep these important details in mind. They could help lead you to wise financial decisions that serve you well throughout your senior years. In the meantime, if we can help facilitate your Medicare decisions, please let us know.

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