There is a penalty for enrolling late in Medicare, but I would really analyze the benefits if your wife has a good policy. It might be worth staying on your wifes policy if she plans to keep this job until she retires. Has she been there very long, and is there job security in her position?

At this time, Medicare insurance is running just under $100.00 per month. If you go with a good Medicare Advantage Plan, like Blue Cross Regional, there isn't an additional premium and if you use their mail plan for prescriptions, you will not have to pay for the medications. The co-pays are a bit higher than if you use Medicares plan alone.

So, call your Social Security office and ask them about if you can and if you should stay with your wifes plan.

You should have applied for Medicare 3 months before your 65th birthday. If you haven't done so, you may be too late and might have a penalty now.