What to Know About Enrolling in Medicare Part B

Sign up for Medicare Part B no later than eight months after you leave your job or you could be hit with lifetime penalties.

Happy mature patient looking at male doctor in hospital ward
(Image credit: Abel Mitja Varela)

Question: I signed up for Medicare Part A when I turned 65, but I didn’t enroll in Part B because I was still working and had health insurance from my employer. But now I’m 68, and I plan to retire later this year. What do I need to do to enroll in Medicare Part B, and when do I need to do it?

Answer:

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Kimberly Lankford
Contributing Editor, Kiplinger's Personal Finance

As the "Ask Kim" columnist for Kiplinger's Personal Finance, Lankford receives hundreds of personal finance questions from readers every month. She is the author of Rescue Your Financial Life (McGraw-Hill, 2003), The Insurance Maze: How You Can Save Money on Insurance -- and Still Get the Coverage You Need (Kaplan, 2006), Kiplinger's Ask Kim for Money Smart Solutions (Kaplan, 2007) and The Kiplinger/BBB Personal Finance Guide for Military Families. She is frequently featured as a financial expert on television and radio, including NBC's Today Show, CNN, CNBC and National Public Radio.