A New Year’s resolution is a promise to yourself to do something good in the year ahead. If you are over 65 and retiring or losing your job in the near future, here is one resolution you must make. Resolve to enroll in Medicare Part B, medical insurance.
I sense there are some skeptics out there. They will get 12, 18, 42 or more months of paid medical coverage through a COBRA or retiree plan or medical insurance connected to a severance package. They enroll in Medicare Part A, hospital insurance, because it is premium-free and a condition of receiving Social Security retirement benefits. But they choose to skip Part B. This is the same coverage they have had for years and it’s worked. Why should they enroll and have to pay the Part B premiums ($174.70 in 2024) and, maybe, higher-income beneficiary adjustments (IRMAA)?
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