Still employed and turning 65? Confused about whether or not to enroll in Medicare?

This can be a loaded topic, as the answer to “whether or not to enroll in Medicare” depends on your specific situation… just like so many things in the Medicare realm…. what is right for “person A” may not be right for “person B”.

The cliff notes to this topic are the following:

Employer has 20 or more employees

If you or your spouse are employed and have group insurance through an employer that has 20 or more employees, you do NOT need to enroll in Medicare Part A or Medicare Part B. There will NOT be a penalty for not enrolling in Medicare if you fall into this category.

If you fall into this category you can evaluate your group coverage compared to Medicare, while taking the following into consideration:

-Is your spouse dependent on your group coverage and not eligible for Medicare

-Current monthly premium for group coverage compared to Medicare

-Current annual deductible and max out of pocket, and current contribution to your deductible and max out of pocket

-Current access (network) to providers (98% of providers accept Medicare)

-Cost of medications with group coverage compared to Medicare

We would be happy to help you with this analysis, just reach out to let us know.

Employer has less than 20 employees

If you or your spouse are employed and have group insurance through an employer that has less than 20 employees, you DO need to enroll in Medicare Parts A and B. In this situation, Medicare will become the primary payer of your health bills, so if you have not enrolled in Medicare, you will be exposed to 80% of your provider’s bills. The group insurance will only pay 20% of these bills because you have turned 65 and the employer has less than 20 employees. In this situation, you should enroll in Medicare Parts A & B, along with a Supplement or Advantage Plan. Don’t hesitate to reach out if you would like to discuss these options; we are happy to help, and once you have a thorough understanding of your options, we would be happy to enroll you in your preferred coverage.

If you have any questions, let us know! Our services are 100% free.