There is a two-part question to this question. You can enroll in Medicare Part A - there isn't a fee, and it is secondary to Loyola's retiree health insurance plan. Faculty and staff do not need to enroll in Part B during employment, you can wait until you retire.
There will not be a penalty if you enroll in after age 65 as long as you have health insurance coverage up until your retirement date.
If you spouse turns 65 before the faculty or staff member, they can stay on the medical insurance plan - and they can sign-up for the Medicare Part A because it does not cost anything. Loyola's medical insurance plan is still their primary coverage plan.
If someone is on COBRA and they turn 65, they will have to pick up Medicare and buy a supplemental plan.