Jason Goldenzweig PRO
Co-Founder, TermInsuranceBrokers.com, Goldenzweig Financial Group, Haymarket, Virginia
You can enroll in Medicare Part B when you turn 65, when you have a special enrollment period (e.g. you're 65 or older and coming off of group coverage), or during the general enrollment period (January 1-March 31 of each year). You may also be eligible for Part B under age 65 if you're on social security disability or have a specific medical condition (e.g. ESRD or ALS) and meet eligibility requirements.
When enrolling under a special enrollment period, the effective date would be the 1st of the following month after you apply. The effective date of coverage when applying during the general enrollment period will be July 1 of the year you apply.
Please note, if you don't enroll in Part B when you're first eligible and you don't have a special enrollment period available to you, you may be subject to a late enrollment penalty (premium can go up 10% for each full 12-month period that you could have enrolled in Part B, but did not).
When you enroll in Part B, you also activate your 6-month open enrollment period to purchase a Medigap plan to cover the gaps in original Medicare (Parts A & B) with NO MEDICAL UNDERWRITING! This is the best time to buy one if you don't want to create an extremely predictable healthcare expense structure.
Please feel free to contact me for further assistance. Thanks very much.
Answered on May 14, 2014