Expat Exchange Community
8 years ago
Penalty for not enrolling in Medicare? Question for seniors
8 years ago
Husband and I are planning to retire in 3 1/2 years and move out of the country, for many reasons, including lower cost of living. Of course, while we're living the nomad life, we are planning to pay for health care out of pocket in the countries we're staying in. We will be retiring at 60 and 51 years old.
My question is this: though we have no concrete plans to move back to the US, it is nevertheless a possibility. My worry is that, should we move back here later in life, the fact that we didn't apply for Medicare during the turning-65 window would mean that we would face a significant penalty/heightened cost for Medicare B, C, and D. So, what are our options? Is there no way out of that penalty due to the fact that we won't be in the US when we turn 65? Does anyone have experience with this?
My question is this: though we have no concrete plans to move back to the US, it is nevertheless a possibility. My worry is that, should we move back here later in life, the fact that we didn't apply for Medicare during the turning-65 window would mean that we would face a significant penalty/heightened cost for Medicare B, C, and D. So, what are our options? Is there no way out of that penalty due to the fact that we won't be in the US when we turn 65? Does anyone have experience with this?
