Medicare Eligible

If you’re working at BMO and have medical coverage under the Consumer Choice Plan when you turn age 65, you may decide to enroll in Medicare or delay your enrollment.

When you can enroll for Medicare

When you become Medicare-eligible and are covered under a group health plan, like BMO’s Consumer Choice Plan, you need to decide when to start Medicare coverage.

You can enroll in Medicare Part A and Part B during your Initial Enrollment Period or during the General Enrollment Period. The BMO Consumer Choice Plan will continue to be your primary medical plan until you are no longer an active employee.

You can delay enrolling in Medicare Part A and Part B (to avoid the Part B premium) and won’t have to pay the lifetime late enrollment penalty if you enroll later. If you delay both Part A and Part B coverage, you don’t need to do anything when you turn 65. Keep in mind the following if you delay enrolling in Medicare:

  • Medicare Part A. You can enroll in premium-free Part A at any time after you’re first eligible for Medicare. Your Part A coverage will go back (retroactively) 6 months from when you sign up (but no earlier than the first month you’re eligible for Medicare). Note: If you elect to start receiving your Social Security benefit, you will automatically be enrolled in Medicare Part A.

  • Medicare Part B. You have eight months from when your employment ends to enroll in Medicare Part B through a Special Enrollment Period. You’ll need to complete certain forms, including the Request for Employment Information (CMS-L564) Form. BMO will need to complete a section of CMS-L564 verifying the dates of your medical coverage. Fax the completed form to Alight Solutions, BMO’s benefit administrator, at 1-866-894-6684. Allow ten business days from receipt of your form for processing.

Be sure you understand how Medicare (or TRICARE) affects your HSA.

Need assistance?

Call the Human Resources Centre

Monday through Friday, from 8 a.m. to 5 p.m. CT