Working Past Age 65

Question 1

If you intend to work past age 65, and have health insurance through an employer with 20 or more employees, how should you approach enrolling in Medicare?

Answer 1

Sign up for Part A, which has no premium and acts as a secondary payer for hospital care.

Exception - If you want to participate in an HSA, don’t sign up for Part A at 65. You can enroll in Part A any time in the future, and there are no late enrollment penalties for Part A.

Avoid Part B - It carries a premium, and is only a secondary payer to your employer coverage, and therefore offers little or no benefit.

Note - Enrolling in Part A automatically enrolled you in Part B unless you complete a form specifically instructing SSA not to enroll you in Part B

Part D - If your employer plan includes creditable drug coverage, avoid Part D to avoid the extra premium cost.

If your employer plan does not include creditable drug coverage, then sign up for Part D to avoid incurring permanent monthly penalties for late enrollment.

Supplement - not needed due to employer health coverage.