By Reg Jones
Q. I am 65 years old and am employed full time by the federal government. I will continue my federal employment for several years. I am covered under Federal Employees Health Benefits and pay for Blue Cross/Blue Shield insurance. If I decline Part B now and decide to take it later, will I be subject to the Medicare Premium penalty?
A. Yes, you can decline Part B while you are still employed without penalty. When you are no longer employed, you’ll have an eight-month window in which to enroll, penalty-free, which begins the first full month after you retire.