Retiring this Summer?

A lot of people look at summer as the perfect time to retire. You’ve put in A LOT of years with an employer and you’re ready to do what YOU want to do, whenever YOU want to do it. I say go for it!!

When you are looking to retire from a career that has offered you Health Benefits, Life Insurance, 401K Retirement Investment options, and maybe even Long Term Care Insurance, you face retirement with so many questions.How are you supposed to do it all alone?

The great news is, you don’t have to navigate the craziness alone.

Let’s start with your Health Insurance and we will cover the rest in the following summer articles. If you are 65 or older, you are eligible for Medicare. You may already have Medicare Part A. When you retire, you will need to apply for Medicare through Social Security. That’s right, Social Security will administer your Medicare Application. They verify you worked the qualifying quarters in the US and are entitled to Medicare.

If you already have Part A, there is a form to apply for Part B – CMS Form 40B.If you do not have Part A, you can either do an online application on ssa.gov or you can call and schedule an appointment with your local SSA Office and do the application over the phone.

If you are over 65, you will need a form completed by your employer to show that you have been on a creditable Employer Group Health Plan since turning 65.This form is called “Medicare Request for Employment Information” (CMS Form L564). You can download this form and the Part B Application with a simple Google search – just be sure you are on cms.gov before you download.

Send the CMS L564 form to your HR Department so they can get you the correct information. Once you have the form completed, you can apply for Medicare.Be sure to match the employment dates and health plan coverage dates the employer inputs to what you put on your Medicare application.

If this all sounds like a foreign language, don’t stress, I can help. Please call or text my assistant to schedule a free appointment: 720-665-6015.