I am turning sixty-five soon, but am still working full time. What does that mean for my Medicare eligibility?
Many people are continuing to work after retirement age, therefore many get confused with what do do in regards to Medicare during that period. In this situation, there are three scenarios that differ in how to proceed with Medicare.
Here is what you need to know:
- IF you are self-employed or have health insurance that is NOT available to all employees of the company: Ask the insurance company if your coverage is employer group health plan coverage as defined by the IRS. If it is NOT, you would want to sign up for Medicare when you turn 65 to avoid a Part B enrollment penalty.
- IF your employer employees LESS than 20 employees: You might need to sign up for Medicare when you turn 65. Please check with employer before making any moves from group to Medicare.
- IF your employer employees MORE than 20 employees: You can sign up for Part A and that will pay secondary to your job based insurance. In this instance, you would let Social Security know when you no longer have group coverage and start your Part B. This is also a great time to go see your agent and begin talking about what Medicare Supplement would be the best fit for you.
Lori Good, Senior Products Insurance Specialist
For more information, a review, or to see your Medicare insurance options contact Lori Good at Beck Insurance Agency in Archbold or Whitehouse, Ohio. You can reach Lori by calling 419-446-2777, you can email lori at lori@beckinsurance.com, or you can submit your request by clicking this link.
Beck Insurance Agency is a full service, independent insurance agency serving NW Ohio and beyond. Beck Insurance offers a full array of coverages and insurance companies for nearly all of your personal and business insurance needs. In business and family owned for 75 years, Beck Insurance Agency has earned the trust of 1,000’s of clients just like you.
