Are you working and 65 years, Make careful decisions?

Have you attained 65 years and are working yet and do not know how to go about with Medicare? The fact is that you are not alone; there are many people with this confusion.


Medicare supplement plans eligibility starts at 65 or even before 65 years if you qualify owing to disability. The retirement age was 65, and now that has actually changed. As per the Social Security Administration, People starting with or are born in 1938 means, the full retirement age increases gradually as they reach 67 for people whose birth year is after 1959. It means there are many 65-year-old people employed and working out there and they have other coverage of health insurance, while they are wondering how to handle Medicare.


The fact is if you are working after 65 and are covered by health care plan employer-sponsored, it is best to stay as it is in the existing plan apart from enrolling in Medicare supplement plans. Prior to deciding, check the Original Medicare benefits that include Parts A and B and how it will work with the existing plan.


Medicare and Other Insurance


It is crucial to know how Medicare supplement plan works with other plans of health insurance. For instance, you must know the plan paying the bills first. The possibility is that Part B is of limited value as you already have other health insurance and this is because the other insurance pays first. This may also be the reason to delay Part B enrolment and to avoid paying premium. However, self-employed people or people who work for less than 20 full-time employees with an employer may want to get enrolled in Part B. In such cases, health expenses are first paid by Part B. It is best to check always with the plan administrator prior to deciding.


Initiate with Basic Coverage

People working past 65 years can enroll in Part A Medicare and it does not have monthly premium. You can enroll in Part A and B as well. The Part B covers outpatient and doctor coverage, where the premium depends on the income.


Thinking About Retirement?


If retirement is on the horizon, consider a few things:

  • Keep the records of your health insurance coverage ready to prove you had Medicare supplement plans coverage past your Initial Enrollment Period.
  • If you are retiring, after the coverage of employer-sponsored ends, you have 63 days to join Medicare supplement plans without penalty. It is also best to sign up to prevent a gap in coverage.