In Medicare, you may hear the term “creditable coverage” used every once in a while, especially when you are new to Medicare or plan on delaying your Part B. Take note that creditable coverage can be very specific depending on your situation. It could cost you if you are not aware of what is creditable and what is not.
If you are about to turn 65 years old and are eligible for Medicare, you will need to consider a few things. One being if you want to continue working and delay Medicare. You should know that you could be penalized if you delay Part A, Part B and Part D. These late enrollment penalties can be easily avoided by enrolling upon eligibility and ensuring that you have credible coverage.