Planning to work past age 65? Don't pass on Medicare just yet.
If you're working and already have health care coverage through your employer, you may be wondering when to sign up for Medicare. Should you sign up when you first become eligible at age 64 and 9 months? Or should you delay enrolling until you're ready to retire? While the answer isn't always straightforward, knowing your options can help you make a sound decision.
Consider the following:
Medicare Part A may offer additional benefits at no cost.
Medicare Part A covers care received in a hospital or skilled nursing facility and can help pay for costs beyond what your employer may cover. And, if you or your spouse paid Medicare payroll taxes while employed, you're eligible for Medicare Part A at no additional cost. These are two reasons to consider enrolling in Medicare Part A as soon as you're eligible.
Medicare Part B may be required, depending on the size of your employer.
Medicare Part B covers medical services, like lab tests, surgeries and doctor visits. It has a monthly premium that you'll pay to the federal government. Since the services covered by Part B are similar to those covered by the health insurance you have through your employer, you might want to delay enrolling in Part B until after you retire.
However, if you work for a company that is smaller than 20 employees, keep in mind that you may need to enroll in Part B before your employer insurance will pay your claim. You'll want to contact your employer or benefits administrator to ensure you're making the right coverage choice.
When you’re ready to retire, Priority Health Medicare has you covered.
Priority Health is the Medicare leader in Michigan, with more people choosing our Medicare Advantage plans than any other in the state.1 Our Medicare Advantage plans start at just $0 and include:
- Doctor visits, hospital coverage and Part D prescription drug coverage — with low or no deductibles
- $0 copay for 90-day mail-order generic prescription drugs on most plans2
- A comprehensive network of more than 28,000 providers
- World-wide emergency and urgent care coverage
- Extras like a fitness membership and optional vision, dental and hearing coverage
Regardless of where you are on your road to retirement, Priority Health can help you plan ahead. Visit our Retirement Starter for information, tools and resources to help you get started.
1 April 2018 CMS Enrollment reports
2 $0 copay on 90-day Tier 1 and Tier 2 prescriptions are available on PriorityMedicare Value, PriorityMedicare Merit, PriorityMedicare and PriorityMedicare Select plans
Priority Health has HMO-POS and PPO plans with a Medicare contract. Enrollment in Priority Health Medicare depends on contract renewal. This information is not a complete description of benefits. Contact the plan for more information. Limitations, copayments and restrictions may apply. Benefits, premiums and/or copayments may change on January 1 of each year. You must continue to pay your Medicare Part B premium. The Formulary, pharmacy network and provider network may change at any time. You will receive notice when necessary.