Turning 65? Your Medicare checklist

Medicare has deadlines, and some mistakes cost you for life. Here's the order things happen in.

1. Know your window

Your Initial Enrollment Period is seven months long: the three months before the month you turn 65, your birthday month, and the three months after. Signing up early in that window avoids gaps.

2. Decide about Part B

If you're still covered by a large employer's plan, you may be able to delay Part B without a penalty. If not, a late sign-up can mean a premium penalty that lasts as long as you have Part B. Ask before you skip it.

3. Choose your path

Original Medicare with a Supplement and a Part D drug plan, or a Medicare Advantage plan. Here's how they compare.

4. Don't skip drug coverage

Going without creditable drug coverage can also bring a lasting penalty, even if you take no prescriptions today.

5. Review every fall

Plans change each year. The Annual Enrollment Period runs October 15 to December 7.