Medicare signup
I am 66 years old and still working full time as a private school teacher. I have medical insurance with an HSA account. My wife will be turning 65 soon and she does not work but she is on my insurance. Do either of us need to sign up for Medicare right now? Also, we do not plan on collecting social security until I turn 70, but should we sign up now? Thank you.
Terry Says
Wait to sign up for SS until the month you turn 70.
Double check with your school’s health insurance plan that she does not need to sign up for SS when she becomes eligible. (Some plans require that.)
If not required, she does not need to sign up until your retirement, when you will also sign up for Medicare. And the G supplement, and a Part D drug plan (even if you are not taking any prescription meds). At that point — just before your retirement, you will each sign up for Medicare separately — even if you are NOT signing up for SS.
The minute you sign up for Medicare you can no longer contribute to an HSA in that year!
