No, nobody has to enroll in Medicare. While Veterans are not required to enroll in Medicare, they will find many benefits in doing so.
Why Veterans Enroll in Medicare
Veterans with VA benefits do not have to sign up for Medicare to keep their benefits. Veterans with TRICARE, however, will need to enroll in Medicare to stay TRICARE eligible, unless they are an active duty service member; an active duty family member; or enrolled in TRICARE Reserve Select, TRICARE Retired Reserve, TRICARE Young Adult, or the US Family Health Plan.
Medicare allows you to receive covered services where you need them without having to wait for approval of care at a non-VA facility. Having Medicare also acts as a safeguard if coverage for veterans has reductions in funding.
Medicare Coverage for Veterans
VA health coverage requires you to see a VA provider or get your services at a VA facility. Providers nationwide accept Medicare, which covers you throughout the U.S. and its territories. You can expand your coverage and increase the possibility of being covered by the nearest provider in an emergency when you add Medicare.
When to Sign Up for Medicare
Veterans should enroll in Medicare Part A as soon as they qualify for Medicare. Most people qualify for premium-free Part A because they have worked at least 40 calendar quarters while paying taxes to Medicare. With no premiums, you have the promise of coverage and only pay when your cost-sharing coinsurance and copayments when you use Part A (hospital insurance) benefits.
The primary benefit of enrolling in Medicare when you are first eligible to is that in doing so you can avoid late penalties in the future. If you were to delay signing up for Medicare Part B, for example, and later choose to enroll, you will have to pay the Part B late enrollment penalty. This fee adds 10% for each 12-month period you failed to sign up after you became eligible, and it lasts for as long as you hold coverage. Before delaying Part B enrollment, check to see whether you might qualify for a special enrollment period when you do eventually enroll.
If you have delayed enrolling in Medicare but later decide to enroll in Medicare Part D, you will be pleasantly surprised not to have to pay a late enrollment penalty. VA drug coverage is creditable for Medicare Part D, so no penalty will be added to your Part D premiums. Having both will expand your pharmacy options.
If you are on the fence about signing up for Medicare, speak with an expert at Magellan Healthcare. Our team can help you weigh your coverage options to optimize your health insurance. Schedule your consultation today.
