Re: Medicare/Employer Insurance if still working

CelticCrafter · ‎03-09-2010

@Carmie AND Medicare paid more for that stupid visit than they did for an "established" patient visit by the same doctor...

My husband was afraid if he didn't do it he would get fired by the PCP.

lkat · ‎07-23-2014

@Nightowlz Thank you, that's very helpful. I will be contacting my HR department next week and have ordered that book. I know absolutely nothing about Medicare so it will be great to have a reference book available. I've been googling, but it will be nice to have a lot of the info all in one place. You can sometimes feel like you're going down the rabbit hole after a couple of hours googling!

sueinsf · ‎03-13-2010

@lkat There can be reasons to switch to Medicare from Employer insurance while you are still working. I will give you two that saved me thousands of dollars:

1. I knew I needed to schedule an upcoming surgery. Cost on Medicare/Advantage (including follow up visits) - $270. Cost on my Employer plan (surgery only) - $3000

2. My employer plan wasn't free - I was contributing to the plan. Because my employer covers my Medicare premium my cost is nothing.

Even If I hadn't needed the surgery, my Medicare plan costs me less than if I had stayed with my Employer insurance. And there are other benefits (like free health club membership included with Silver & Fit) if I choose to avail myself.

Plans vary widely, and I'm not saying this will be the same cost savings to everyone, but it is certainly worth checking and evaluating your particular circumstances.

Nightowlz · ‎03-11-2010

@lkat wrote:
@Nightowlz Thank you, that's very helpful. I will be contacting my HR department next week and have ordered that book. I know absolutely nothing about Medicare so it will be great to have a reference book available. I've been googling, but it will be nice to have a lot of the info all in one place. You can sometimes feel like you're going down the rabbit hole after a couple of hours googling!

@lkat

That's what I told DH. I felt like I was going down the rabbit hole. You should be able to find all you need in the book. Medicare.gov is another place to find what you need. We used Boomer Benefits to sign up for Medigap.

hckynutjohn · ‎06-15-2015

@Snowpuppy wrote:
@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.

@Snowpuppy

I know that many that got stiffed when it came to retiring because of the virus. It's a shame when best laid plans go awry because of unforeseen things that happen.

My retirement came 2 years before I planned. I was going to retire in '93 when I had 35 years in with the company, I would have been 54. Then in '91 the company started offering buyouts on certain level jobs. So I put in my application for the buyout.

Wasn't as easy for me to get out as it was for others with this buyout. I had taken an upgraded pay job in January, and the offer was for that grade level jobs, but! Since I hadn't been on the job for over a year, I was considered as still in the lower pay grade. So I was declined.

A month later, they offered another buyout for the lower pay grade employees. So once again I put in my application for the buyout, pretty sure I would get it, but! This time I got decined because the company said "I was in the higher pay grade job"! HUH?

Had to get the Union involved because I couldn't be turned down with that kind of nonsense. We were talking a month after my first application, still not being on the higher paid job for a year.

They battled it out for a couple weeks and, YEA, I got it and retired. It ended up, to the day, exactly 33 years from my hiring date. I was 52.

hckynut 🇺🇸

hckynut(john)

lkat · ‎07-23-2014

@sueinsf Thank you. That's definitely something to consider that I hadn't really thought much about. My employer insurance isn't cheap and they just raised the deductible yet again and removed my pharmacy so I'm not a big fan of it. It seems like every year I pay more and the coverage gets worse.

BunSnoop · ‎05-22-2010

@Nightowlz , thank you so much for the information you provided regarding Form CMS-L564 to prove creditable insurance coverage.

I'm going to retire from my large employer when I reach age 65. My husband who is 67 only has Medicare Part A as I planned to have him enrolled during a Special Enrollment period when I retire for his Part B and Drug coverage.

I had no idea of how to prove he had coverage through my employer. Sounds like I need to forward that form (CMS-L564) to my HR department to have them complete it to prove he was covered under my insurance and then provide it to Medicare when he applies for Part B.

I called Medicare today and they said we can enroll on-line without having to go through my employer. We can atttach the 1095C form, that we receive every year from my employer, and that way you do not need to wait for Human Resource Dept. to complete the CMS-L564 form. The man I spoke to was so nice and informative and he sent an email to me with forms attached, if I wish to submit that way, and he also provided a link if we wish to file on-line.

I had been dreading making the phone call to Medicare as I thought I would just be "lost" when they start explaining everything, but that was not the case. He was very patient and provided excellent information. If any of you have any questions, I would not hesitate to contact Medicare by phone and just ask! I feel like a large weight has been removed from my shoulders! :-)

SurferWife · ‎12-12-2010

@hckynutjohn wrote:
Work past 65?

hckynut 🇺🇸

@hckynutjohn

I hope that I'm able to keep working past 65. I love working; I love the routine of my day. I love the challenge my work gives me. I guess if I had to pick an age to retire, I think maybe 70. By then I'll probably be tired...LOL!

Time is just a drop in the bucket compared to eternity. It isn’t how long you live that matters; it is how well you are prepared to die. ~~Colonel Robert B. Thieme, Jr.

Ppooh · ‎07-04-2010

Not to change the subject but do you know if your husband is older than you and is getting ss and you become ss age and still want to work you can get ss ,which could be more than if it's yours, off of him. Then you can work until your like 70 and your ss has grown quite a bit more...not bad.

ALRATIBA · ‎07-15-2016

When I turned 65, my employee health insurance required I get the Medicare Part A. When I retired several years later, I added Part B. My retirement benefit health insurance is a supplement to Medicare, i picks up after Medicare.