topic Re: Medicare/Employer Insurance if still working in Community Chat

Medicare/Employer Insurance if still working

lkat — Fri, 10 Mar 2023 21:32:24 GMT

I am turning 65 later this year and have been bombarded with mail about signing up for Medicare. I am still working and have health insurance through my company (which has more than 20 employees).

From what I can see, I don't think I need to do anything about Medicare yet, but it's a little confusing.

For anyone that continued to work after turning 65, did you wait to sign up for Medicare until after you retired or is there anything I should do now?

Thanks for any advice.

Re: Medicare/Employer Insurance if still working

spumoni99 — Fri, 10 Mar 2023 21:50:52 GMT

I just retired at the end of last year, I am 61 but my husband is 73, while I was still working he didn't have to get on medicare, he was dependent

on me for medical insurance. Once I retired we had 60 days to sign him up for medicare.

It might depend on your HR and their policy, might be a good idea to check with them.

Re: Medicare/Employer Insurance if still working

Sweetbay magnolia — Fri, 10 Mar 2023 21:48:50 GMT

Yeah, no you are not required to sign on but the vultures are out there watching. Absolutely discuss it with you HR dept, if yur company has one.

Re: Medicare/Employer Insurance if still working

NicksmomESQ — Fri, 10 Mar 2023 21:51:47 GMT

My DH retired at 72, last year. His employer was a large insurance company with thousands of employees. We stayed on his employer medical until he retired. At that time we had 8 months during a "special enrollment period( SEP)",in which to sign up for Medicare,with no late penalty. It worked out seamlessly for us.We actually signed up for Medicare, a couple months prior, to take effect the month after he retired.

Note, Cobra isn't considered credible coverage, so it's important to sign up before the end of the 8 month SEP.

Re: Medicare/Employer Insurance if still working

Carmie — Fri, 10 Mar 2023 23:15:23 GMT

@lkat You can get Medicare Part A when you turn 65 at no charge .You do not have to purchase Medicare part B until you retire.

Since your employer has at least 20 people your employer insurance is primary. You can use Medicare Part A as secondary insurance if something is not paid in full. It won't cost you anything to do this.

If your employer offers a HSA account ( health savings account) you will not be able to use this account this account you have PART A.

The easiest thing to do is not go on Medicare until you retire. Block phone calls from the sharks. They're relentless and ignore the insurance mail unless you have health issues that would require additional hospital inpatient benefits.

When you retire, you have 8 months to enroll in Medicare. You will not be eligible for Cobra from your employer at that time....you must go on Medicare.

For now, Don't worry about it.

I worked 25 years in health insurance in Customer Service.

Re: Medicare/Employer Insurance if still working

drizzellla — Fri, 10 Mar 2023 23:15:51 GMT

@Sweetbay magnolia wrote:
Yeah, no you are not required to sign on but the vultures are out there watching. Absolutely discuss it with you HR dept, if yur company has one.

Like @Sweetbay magnolia said - Yes when I turned 65 and was still working, I had to go to my Human Resources Department. There is a form that you sign, to prove that you are still covered under your company's health insurance.

It was my understanding that you would be fined, when you eventually did sign up for Medicare and you did not sign the form. But your HR Department should have the form and know what you should sign.

Re: Medicare/Employer Insurance if still working

Caffeina — Fri, 10 Mar 2023 23:21:05 GMT

https://www.medicare.gov/basics/get-started-with-medicare/medicare-basics/working-past-65

Re: Medicare/Employer Insurance if still working

Somertime — Fri, 10 Mar 2023 23:48:14 GMT

@lkat Read what @Carmie advises, she is correct. You can keep your private insurance through your company until you retire and apply for Medicare Part B.

This is what I did since my employer paid for 1/2 of my health premiums and I had very good coverage.

Re: Medicare/Employer Insurance if still working

spumoni99 — Sat, 11 Mar 2023 00:30:34 GMT

@Carmie wrote:
@lkat You can get Medicare Part A when you turn 65 at no charge .You do not have to purchase Medicare part B until you retire.

Since your employer has at least 20 people your employer insurance is primary. You can use Medicare Part A as secondary insurance if something is not paid in full. It won't cost you anything to do this.

If your employer offers a HSA account ( health savings account) you will not be able to use this account this account you have PART A.

The easiest thing to do is not go on Medicare until you retire. Block phone calls from the sharks. They're relentless and ignore the insurance mail unless you have health issues that would require additional hospital inpatient benefits.

When you retire, you have 8 months to enroll in Medicare. You will not be eligible for Cobra from your employer at that time....you must go on Medicare.

For now, Don't worry about it.

I worked 25 years in health insurance in Customer Service.

Since my health benefits would continue for me and my husband in retirment we had 60 days to enroll, if I had not enrolled him we would have lost all of my health insurance in retirement so its good to know your individual requirements.

Re: Medicare/Employer Insurance if still working

lkat — Sat, 11 Mar 2023 00:35:39 GMT

Thank you to everyone who responded. I really appreciate it. What everyone has said is what I thought, but I wasn't positive and it is a bit confusing with all the mail I have been getting. I thought AARP was a pain in the butt when I turned 50, but these Medicare things put them to shame!

I will contact my HR department on Monday to confirm with them.

You ladies are great, thank you for all the advice

Re: Medicare/Employer Insurance if still working

Snowpuppy — Sat, 11 Mar 2023 01:06:56 GMT

@spumoni99 thank you for adding your experience!

My employer also offers health insurance to those who retire with required years on the job.

Re: Medicare/Employer Insurance if still working

Nightowlz — Sat, 11 Mar 2023 03:25:20 GMT

@lkat wrote:
Thank you to everyone who responded. I really appreciate it. What everyone has said is what I thought, but I wasn't positive and it is a bit confusing with all the mail I have been getting. I thought AARP was a pain in the butt when I turned 50, but these Medicare things put them to shame!

I will contact my HR department on Monday to confirm with them.

You ladies are great, thank you for all the advice

@lkat

You need Form CMS-L564 to prove you had credible insurance coverage in order to sign up to Medicare after 65. DH just retired so signed up for B, D plus just signed up for his Medigap. He signed up for Part A at 65. I just signed up for A, B, D. I have til Aug to sign up to my Medigap.

Most of what you are getting in the mail is for Advantage Plans. I throw them in the trash.

DH was not collecting SS when he signed up so he had to pay 4 months up front plus billed for the next 3 months. When he did sign up to SS they started deducting his Medicare payments we had already paid so they owed us money. He had to pay 3 months up front for his Medigap. Now mine is starting so paying out the same since I'm not collecting my SS yet.

We ended up buying the book "10 Costly Medicare Mistakes You Can't Afford To Make" by Danielle Kunkle Roberts co-founder of Boomer Benefits $10 from Amazon which helped us figure it all out. I also had some help online.

Re: Medicare/Employer Insurance if still working

hckynutjohn — Sat, 11 Mar 2023 05:06:36 GMT

Work past 65?

hckynut 🇺🇸

Re: Medicare/Employer Insurance if still working

Snowpuppy — Sat, 11 Mar 2023 05:40:53 GMT

@hckynutjohn wrote:
Work past 65?

hckynut 🇺🇸

😄

Unfortunately John, I will probably be working past 65, too.

Some of us were waiting for "early out" offers but Covid got many more people to retire than anticipated and we are short staffed.

Re: Medicare/Employer Insurance if still working

Carmie — Sat, 11 Mar 2023 05:56:13 GMT

@hckynutjohn wrote:
Work past 65?

hckynut 🇺🇸

Lots of people work past age 65. It is getting unusual for people who are 65 and over not to work.

Most work because they want to, not because they have to. 65 is not all that old anymore, though there are still stereotypes out there.

I had a doctor's appt this week for a well visit. The assistant wanted me to draw a clock and I laughed at her. I said next you will ask me to fill in the time to 11:10.

Then I said how about I draw a different time on the clock and you can tell me what time it is....or perhaps you need an analog clock.

I refused the clock and memory tests. Just because you are over 65 doesn't mean you lost your cognitive skills.

I just had a knee replacement. My surgeon is over 65.... lots of professional people are working and they are doing well.

Like you, I retired early, and like you I keep myself occupied mentally and physically.

Re: Medicare/Employer Insurance if still working

teganslaw — Sat, 11 Mar 2023 13:09:43 GMT

I never had a well visit or required to take one to apply for SS. Neither have my friend or sister. This "Clock drawing" sounds strange. The only reason someone would take such a test is if they start to show signs of dementia. I don't understand the reasoning otherwise. It seems to be a waste of time for many people.

Re: Medicare/Employer Insurance if still working

CalminHeart — Sat, 11 Mar 2023 13:39:20 GMT

I received notice from my employer that my health insurance would terminate on the 1st day of the month in which I turned 65. You might want to talk to HR about their policy.

In my case, I saved $500 a month in premiums when changing from employer insurance to Medicare, a supplemental policy, and an RX policy. My out of pocket expenses went down to $180 per year, which is a lot less than I paid under my employer coverage.

Re: Medicare/Employer Insurance if still working

CelticCrafter — Sat, 11 Mar 2023 14:32:37 GMT

@teganslaw wrote:
I never had a well visit or required to take one to apply for SS. Neither have my friend or sister. This "Clock drawing" sounds strange. The only reason someone would take such a test is if they start to show signs of dementia. I don't understand the reasoning otherwise. It seems to be a waste of time for many people.

This Wellness visit, which is a visit and not an exam, is not a requirement in order to sign up or keep Medicare.

It's a free,not subject to the Part B deductible, co-insurance or co-pays, intrusive BS waste of time done by a PCP. Other than screening for dementia, depression, vitals, current medications and recomendations, nothing else can be discussed.

If you have just original Medicare or original with a supplement you aren't even required to have a PCP. (Not talking about Advantage plans)

Re: Medicare/Employer Insurance if still working

Carmie — Sat, 11 Mar 2023 20:55:53 GMT

@teganslaw wrote:
I never had a well visit or required to take one to apply for SS. Neither have my friend or sister. This "Clock drawing" sounds strange. The only reason someone would take such a test is if they start to show signs of dementia. I don't understand the reasoning otherwise. It seems to be a waste of time for many people.

Social Security is not Medicare and they're not related in any way. Many people have one, but not the other.

The wellness exam is mostly silly unless someone has dementia or if they are abused in their home. It's just a waste of time and tax payers money for most people.

There is a three page questioner attached to it as well. Doctors are supposed to administer the exam every 12 months. It's done to assess your health risks....falling, keeping your house safe with grab bars, getting rid of slippery throw rugs, etc.

Medicare does not cover physicals...but they pay this stupid wellness exam at 100%. Go figure.

Re: Medicare/Employer Insurance if still working

just bee — Sat, 11 Mar 2023 21:46:55 GMT

Hmmm. Sounds as simple as our tax code.