Question: I am over 65 and was working, but I just got laid off and am not sure we will be going back to work anytime soon. What do I do about Medicare and insurance?

Answer: I am sorry for your situation. Life can change so quickly. All of us hope to someday retire, but you may be doing this sooner than you expected.

You said that you are over 65, so you may already have Medicare. If you don’t already have Medicare, you should consider signing up for Medicare Part A and B. This process requires paperwork be completed and turned into the Social Security Administration (SSA).

If you don’t have Medicare Part A or B. You have two forms to complete:;the CMS-18F5 and the CMS L-564. The CMS 18F5 you yourself complete which signs you up for both Medicare Part A & B at the same time. The form CMS L-564 will need to be completed by your former employer. Find these forms online, or from the local SSA office. Once these forms are completed, make a copy for your records and then deliver them both to the local SSA office. I will talk about the SSA offices in a minute.

If you have Medicare Part A already, you will need to sign up for Medicare Part B within 8 months of your employment ending, but I don’t usually recommend waiting that long.

There are two forms to complete, CMS-40B (you complete) and CMS-L564 (the employer completes). Find these forms online, or from the local SSA office. Once these two forms are completed, make a copy to keep for yourself. Deliver the completed forms to the local SSA office.

Here are the phone numbers for the local offices, but the hours at all three locations are Monday thru Friday 9a to 4p, Jamestown SSA is 1-877-319-3079, Dunkirk is 1-888-862-2139, and Olean is-1-877-319-5773. You can also call the national number to get guidance, 1-800-772-1213, or the website, www.SSA.gov.

Now that you are not working you need Medicare Part A & B and some other coverage to go along with that. Medicare Part A has no premium for most Americans. The Medicare Part B premium is $202.90 each month. If you collect Social Security, the premium will be deducted from your Social Security check. If you don’t collect Social Security, then they will bill you quarterly (every three months).

When an individual has left their employment and lost their insurance regardless of why, they have 8 months to sign up for Medicare Part B. You only have 60 days to find Prescription Drug coverage. I don’t recommend waiting since that means you may not have adequate insurance for those months. COBRA should not be used in place of Medicare.

Once you have both Medicare Part A and B, you can begin to decide what type of insurance you want in addition to that basic coverage. You may be eligible for a retiree plan, which may be useful and cost effective. Your Human Resource department can help you through that question. If retiree coverage is not offered, you should then look to insurance products available to you. There are the Medicare Supplement plans which are lettered plans (A-N) and these follow Medicare in their payments for medical bills. These plans tend to have relatively high premiums (between $100 and $300 monthly), depending on the plan (letter) you choose and the company. These Medicare Supplement plans do NOT have drug coverage, so you would then look to Medicare Stand Alone Prescription Drug plans, and/or possibly Veterans Benefits for your drug coverage.

Another type of plan you could look at are Medicare Advantage Plans. These are plans that REPLACE your Medicare coverage. You still must have Medicare Part A & B. These plans range in premiums from $0 to $232.50 monthly. They usually include drug coverage (Part D). For a list of Medicare Advantage Plans available to you, look at www.medicare.gov or your Medicare and You 2026 handbook.

There are many plans to choose from and many factors to consider, such as your doctors, your medications, and your financial situation which may look very different now. Remember that whatever plan you choose, you can change your mind each year during open enrollment between October 15 and December 7. There are also Special Enrollment Periods available in some situations that allow you to change at other times.

You do have some time to make these decisions, but don’t put it off for too long, as a gap in coverage could lead to a Late Enrollment Penalty (LEP) you could pay for the rest of your life. No need to have those added expenses in your future.

With this work stoppage, you may want to consider collecting Social Security Benefits if you haven’t started yet. That can also be reviewed with the SSA staff when you speak with them. Let them know you need Medicare right away, regardless of your decision to collect SSA benefits.

Good luck and you may find this situation ends up being something that gives you a little extra time and more freedom to do the activities you enjoy doing!

Janell Sluga is a Geriatric Care Manager helping seniors in the community access services and insurance. To reach her, email editorial@post-journal.com.