What Medicare Coverage does one need
to get if they are still working?

Is there a SEP Special Enrollment Period for Part B, MAPD Medicare Advantage and Medi-Gap when you lose Group Coverage?

Part D Rx?

Here is the official Medicare  link  to enroll in Medicare Part A Hospitalization and Part B Doctor Visits.

Since you have coverage through work, you can probably postpone enrolling in Part B – Doctor Visits and Part D Rx.

Learn More ===>

the horses mouth on if you should get Part B Doctor Visits, how to enroll, COBRA Traps, etc.

When you retire, lose your employer coverage  you may then enroll in Part B Doctor visits, you will also have a special enrollment period to get  Part D Rx and enroll in a Medi Gap Plan and Medicare Advantage.

Make sure that your work employers Rx Prescription coverage is credible – that is at least as good as the Standard Part D Rx Prescription  coverage so that you don’t get a late enrollment penalty.

So, basically, as long as you have great coverage at work, just sign up for Part A Hospital and then get Part B, supplements and Part D Rx when you retire.  There might be issues if your wife wants to sign up late for Part B, as there are technical rules about it being employee coverage not COBRA, which could affect you too if you go on COBRA. See Medicare & You Page 26 – Part B Special Enrollment Period.

Anthem Medicare Supplement

Anthem Medicare Supplement - Get Quotes, Information and ONLINE Enrollment - No extra charge for our help

2 comments on “Employment Coverage vs Medicare Parts A, B & D

  1. I have a question about Medicare enrollment. I’ve been given conflicting info and need advice.

    I have insurance through my work so I am confused about enrollment in Part A.

    Can I enroll only in part A or do I have to enroll in Part B too?

    The Medicare website says I must enroll in both but I don’t need Part B. What do I do?

    Don’t want to miss out on Part A.

    • See the webpage above for your answers and citations. Please advise where exactly Medicare says you have to have both. While there are late enrollment penalties, see above for how they are waived if you have employer coverage.

      https://www.medicare.gov/sign-up-change-plans/how-do-i-get-parts-a-b/should-i-get-parts-a-b

      I’m currently working, and I have coverage through my job.

      The size of the employer determines whether you may be able to delay Part A and Part B without having to pay a penalty if you enroll later.

      The employer has fewer than 20 employees.

      You should sign up for Part A and Part B when you’re first eligible. In this case, Medicare pays before your other coverage. Learn more about how to get Parts A and B.

      Note

      If you don’t enroll when you’re first eligible, you may have to pay a Part B late enrollment penalty, and you may have a gap in coverage if you decide you want Part B later.

      The employer has 20 or more employees.

      Ask your benefits manager whether you have group health plan coverage (as defined by the IRS). People with group health coverage based on current employment may be able to delay Part A and Part B and won’t have to pay a lifetime late enrollment penalty if they enroll later. If you want to delay both Part A and Part B coverage, you don’t need to do anything when you turn 65.

      If you’re eligible for premium-free Part A, you can enroll in Part A at any time after you’re first eligible for Medicare. Your Part A coverage will go back (retroactively) 6 months from when you sign up (but no earlier than the first month you’re eligible for Medicare).

      If you aren’t eligible for premium-free Part A, and you don’t buy it when you’re first eligible, you may have to pay a penalty.

      Note

      Premium-free Part A coverage:

      Begins 6 months back from the date you apply for Medicare (or Social Security/RRB benefits). To avoid a tax penalty, you should stop contributing to your Health Savings Account (HSA) at least 6 months before you apply for Medicare.
      Begins no earlier than the first month you were eligible for Medicare.

      When the employment or employer/union coverage ends

      Once the employment (or your employer/union coverage) ends, 3 things happen:

      You may be able to get COBRA coverage, which continues your health insurance through the employer’s plan (in most cases for only 18 months) and probably at a higher cost to you.

      You have 8 months to sign up for Part B without a penalty, whether or not you choose COBRA. To sign up for Part B while you’re employed or during the 8 months after employment ends, complete an Application for Enrollment in Part B (CMS-40B) and a Request for Employment Information (CMS-L564). If you choose COBRA, don’t wait until your COBRA ends to enroll in Part B. If you don’t enroll in Part B during the 8 months after the employment ends:

      You may have to pay a penalty for as long as you have Part B.

      You won’t be able to enroll until January 1–March 31, and you’ll have to wait until July 1 of that year before your coverage begins. This may cause a gap in health care coverage.

      If you already have COBRA coverage when you enroll in Medicare, your COBRA will probably end. If you become eligible for COBRA coverage after you’re already enrolled in Medicare, you must be allowed to take the COBRA coverage. It will always be secondary to Medicare (unless you have End-Stage Renal Disease (ESRD) . Learn more about how Medicare works with other insurance.

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