You can already apply for Medicare. However, application is only done within a certain period. The duration is three months before you turn 65 years old until three months afterwards. Otherwise, you will pay a penalty if you sign up several years after you have turned 65. The penalty is an added 10% to your monthly premiums while you are covered by Medicare. In case you want to postpone your application, there are rules that you need to follow. If you sign up for Medicare, you are automatically given Part A or the hospital insurance provisions. You can also choose to get Part B or the coverage for doctor's services and outpatient care. At the moment, your primary health insurance is the group insurance plan of your company. Check if it might be best for you to get Medicare A and B, and allowing it to be your primary health insurance, with the company group insurance plan as your secondary insurance. Consider also your drug maintenance coverage. If your group health plan already covers your drug prescriptions, then you might not need Part D of Medicare or the prescription drug coverage. Otherwise, get Medicare D so that your drug maintenance is covered. Check also the provisions of the new prescription program. You must enroll at their specified times and meet their deadlines. Otherwise, you pay the penalty of an additional 1% for every month that your enrollment is delayed. Try to verify with your insurance agent the best option for you. You can also consult the Social Security Administration as they know best how Medicare works, and can advise you on the best options available. Answer by admin — May 25, 2009 @ 11:50 am