Your COBRA coverage is likely to end once you. People who already receive Social Security or RRB benefits at least 4 months before they qualify for Medicare and who reside in the United States (except residents of Puerto Rico) are automatically enrolled in Part A and Part B. People who automatically enroll can choose to keep or decline Part B coverage. People who live in Puerto Rico and are eligible for automatic enrollment are only enrolled in Part A without a premium; they must actively enroll in Part B to get this coverage. For example, if you don't qualify for premium-free Part A and you choose to exclude yourself for no reason, your monthly premium for Part A can increase by up to 10% and you'll have to pay this higher amount for twice as long as you weren't enrolled.
For people who enroll using the SEP for people of working age and people with working disabilities, the Part A LEP premium is calculated by adding up the months between the closing of the person's IEP and the end of the month in which the person enrolls. You are eligible for Part A coverage after you (or your spouse or partner) have been contributing to Medicare for 10 years over your career. People who don't enroll in Part B or have a Part A premium when they first qualify because they were volunteering outside the United States for at least 12 months on behalf of a tax-exempt organization and had health insurance that provided coverage for the duration of their volunteer service can sign up through this SEP. This means that if you don't enroll for six months, you'll have to pay a 6% late enrollment penalty in addition to the plan's monthly premium for as long as you have Medicare Part D coverage.
No LEP will apply to people who register using an SEP for exceptional conditions, the SEP for international volunteers, or the SEP for certain TRICARE beneficiaries. It won't cost you anything (as long as you or your spouse have paid Medicare taxes through your employment for at least 10 years) ,4 and so Medicare can serve as your secondary insurance and potentially foot the bill for anything your primary insurance doesn't cover under your employer's health plan. If you don't stop receiving the premium tax credit and other financial assistance for your Marketplace plan when your Medicare coverage begins, you may have to reimburse some or all of the amount of financial assistance you received during the months you had both types of coverage. For people who enroll using the SEP for people of working age and people with working disabilities, the Part B LEP is calculated by adding the months elapsed between the closing of the person's IEP and the end of the month in which the person enrolls. This means that if you delay enrollment for three years, you'll pay an additional 10% for your Part A premium for the first six years.
Most people who qualify for Medicare choose to use their health care coverage and benefits once they turn 65. Some private insurance companies have rules that lower what they pay (or don't pay at all) for the services you receive if you're eligible for other coverage, such as Medicare. People who qualify for Part A without premiums can also enroll in Part B once they are eligible to Part A. Individuals eligible for premium-free Part A, who are not automatically enrolled, can enroll in Part A at any time after they are first eligible for coverage. If you don't sign up, your employer's plan may pay less (or nothing at all) for your care when it finds out.
