What do singer Cyndi Lauper, comedian Tim Allen, wrestler Hulk Hogan, attorney Marcia Clark and politician Jeb Bush have in common? They were born in 1953 and are turning 65 this year, along with many others who may not enjoy fortune or fame. Celebrity or not, if you share their birth year and you or a spouse/partner worked and paid Medicare taxes, you may qualify for valuable Medicare insurance benefits.
Being unaware of the specific time periods to enroll in Original Medicare and Prescription Drug Plans, along with additional options that may be available in your region, can result in gaps in coverage or late enrollment penalties. In some cases, you may not be required to enroll at 65, or may have the option of a former employer’s retiree insurance coverage. You may also qualify at any age, if you are receiving Social Security Disability benefits and meet additional eligibility requirements.
Celebrities may give a personal assistant or trusted advisor prior written authorization to contact Social Security on their behalf, but you may need to figure things out on your own. Start learning the basics by reading: www.ssa.gov/pubs/EN-05-10043.pdf
When Singer Billy Joel was recently asked on his 69th birthday what it’s like to get older, he replied: “My best is yet to come!” So, figure out your Medicare insurance and prepare for your best!