I am 77 years old and finally leaving my job, so I will be losing my access to employer supplied health insurance. I do have Medicare Part A and Part B, which I have been using as a supplement to my employer supplied health insurance coverage. Do I need to do anything now that Medicare A & B will be my only health insurance coverage?

A) Congratulations on your retirement!

Since you already have Medicare Part A and B, you generally don’t need to take immediate action. Medicare will be your primary insurance, meaning it will pay for most of your healthcare costs. However, there are a few things to consider:

• Medicare Part D: This is the prescription drug coverage part of Medicare. If you don’t have other drug coverage through your employer or a spouse’s plan, you’ll want to consider enrolling in a Medicare Part D plan during the fall open enrollment period. This will help cover the cost of your medications.  
• Medigap: Medigap plans are supplemental insurance plans that help cover some of the costs that Medicare doesn’t pay for, such as copayments and deductibles. You may want to consider enrolling in a Medigap plan, especially if you have significant healthcare needs.  

To get more specific information and advice tailored to your individual situation, I recommend contacting:

• Social Security Administration (SSA): They can answer questions about Medicare eligibility and enrollment. You can reach them at 1-800-772-1213.  
• Your State Health Insurance Assistance Program (SHIP): SHIP counselors can provide free, unbiased advice on Medicare and other health insurance options. You can find your state’s SHIP by visiting the Medicare website.  

By taking these steps, you can ensure that you have the best possible coverage to meet your healthcare needs in retirement.