By Rhonda Whitenack and Jim Czechowicz
Social Security Public Affairs office, Minneapolis

Question: I never signed up for Medicare Part B when I was first eligible. Can I do so now?

Answer: If you didn’t sign up for Part B when you first became eligible for Medicare, you will have another opportunity to apply but only until March 31. If you miss the deadline, you will have to wait until 2010 to apply.

When you first become eligible for hospital insurance (Part A), you have an initial enrollment period of seven months in which to sign up for medical insurance (Part B). After that, you have to pay a higher premium - unless the reason you declined Part B was because you were covered through your or your spouse’s employer’s group health plan.

Each 12-month period that you are eligible for Medicare Part B and do not sign up, the amount of your Part B premium may increase by 10 percent.

Question: All my life I have planned on retiring at age 62, but I heard the retirement age is rising to 67. Does this mean five more years of work for me?

Answer: Not unless you want to continue working. It is true that the full retirement age is gradually rising to 67, early retirement remains at age 62. For example, if you were born in 1943 or later, 8 percent per year will be added to your benefit for each year that you delay signing up for Social Security between your full retirement age and age 70. Check out the online Retirement Estimator, which you can use to get quick and accurate estimates of retirement benefits based on different scenarios, at www.socialsecurity.gov/estimator. Or read the When to Start Receiving Benefits fact sheet at www.socialsecurity.gov/pubs/10147.html.