So many students have the same question and the same fear... making a mistake. I say this with all the love in my heart for you and a decade of watching this reel play over and over... Some of you are 64 going on 18- invincible and bullet proof. You look great. You feel great. You can't even believe that 65 has ever been considered "old" because you're not. I love your confidence and you are right in many ways. You will be the healthiest generation with the longest life expectancy that we have ever witness. You're going to live longer than any one ever has. Science has advanced and medicine has advanced and you can outlive things you used to not be able to... but you have to be able to afford it.
When this Medicare decision is on your plate, you can secure your future and protect your retirement health (cost) with contractual guarantees when you are guaranteed insurable. You may not ever need it... You may be in complete perfect health until Heaven, but you may not. None of us will really know until we pass if we did the exact right thing for us and the ones we leave behind.
Even though we have so many unknowns, we have plenty of amazing public information that we can know right now. Let's base our plan on what we know today.
When should you enroll in Medicare and when should you buy a medigap if you even should??? Here is what our sources say:
The best time to buy a Medigap policy is during your 6-month Medigap Open Enrollment Period. You generally will get better prices and more choices among policies. During that time you can buy any Medigap policy sold in your state, even if you have health problems. This period automatically starts the first month you have Medicare Part and you're 65 or older. It can't be changed or repeated. After this enrollment period, you may not be able to buy a Medigap policy. If you're able to buy one, it may cost more due to past or present health problems.
During your medigap open enrollment period no one can turn you down or charge you more based on your health present, past, or potential future. Remember you can also buy guaranteed renewable contractually guaranteed coverage.
Joyce Meyer says, "eat the cookie, buy the shoes." I say, "buy the Harley, take the trip, start the business, live your dream... AND PROTECT YOUR RETIREMENT."
You worked your whole life for this. Spend it on what you love not what you can avoid with just a little planning.