Medicare - Part B

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Almost there
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Medicare - Part B

Post by Almost there »

In April I turned 65 and started Medicare by paying quarterly premium for Part A + B. My next premium will be for July - Sept.

I started a new job and will receive healthcare through my new employer starting in September.

How do I drop Part B as of October, since my premiums through my employer are lower than Medicare payments?

Almost there
gerrym51
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Re: Medicare - Part B

Post by gerrym51 »

i would say it depends on how long you intend on working for new employer. from experience with my wife getting on part b without paying the penalty for not taking at 65 is not a walk in the park.you'll will need documentation
Topic Author
Almost there
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Re: Medicare - Part B

Post by Almost there »

Will probably work until I turn 70. That is my plan right now.

Almost there
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bertilak
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Re: Medicare - Part B

Post by bertilak »

Be careful about dropping part B.

Oft times health care from an employer is secondary to Medicare if you are Medicare eligible. Medicare Part A+B may be required by your employer's health plan. That was the case with me.

Also, there are complications with Medicare itself if you try to re-enroll after dropping it. I think this can work OK if you have proof of continuing "creditable coverage" but I would feel I was out on a limb if in that situation. You at least need to understand it thoroughly.
May neither drought nor rain nor blizzard disturb the joy juice in your gizzard. -- Squire Omar Barker (aka S.O.B.), the Cowboy Poet
gerrym51
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Re: Medicare - Part B

Post by gerrym51 »

bertilak wrote:Be careful about dropping part B.

Oft times health care from an employer is secondary to Medicare if you are Medicare eligible. Medicare Part A+B may be required by your employer's health plan. That was the case with me.

Also, there are complications with Medicare itself if you try to re-enroll after dropping it. I think this can work OK if you have proof of continuing "creditable coverage" but I would feel I was out on a limb if in that situation. You at least need to understand it thoroughly.

having been thru this with the wife-when you want to be on part b again without penalty you have to prove that you had coverage the entire time. continuing coverage forms don't always go back say 5 years. ss/medicare has special forms that have to be filled out. if you work for a smaller company and have direct access to an HR person who is authorized to sign the form probably ok-but if its a big company where signatories are not local it can be a hassle. it took me 2 months to get a signature.
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bertilak
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Re: Medicare - Part B

Post by bertilak »

gerrym51 wrote:...when you want to be on part b again without penalty you have to prove that you had coverage the entire time.
When I first became eligible for Medicare, like most people, I was a long way from understanding it. When I initially signed up the web page listed A and B as separate options, with B requiring A. My investigations at that point told me I definitely needed part A so I signed up for that figuring I'd come back to part B after further investigation.

Well, when I tried to enroll in part B they said I couldn't because I had already "rejected" it! You get just one shot during the enrollment period. Luckily I found a sympathetic ear when I called and explained that I hadn't "rejected" anything but just hadn't got around to making a decision at the time. The lady I talked to said she would fix things and enrolled me in part B right then and there.

Point is, with bureaucracy it is best to take the straight and narrow path and not mess around. Do what is expected. I was lucky to get this straightened out since it did take some convincing.
May neither drought nor rain nor blizzard disturb the joy juice in your gizzard. -- Squire Omar Barker (aka S.O.B.), the Cowboy Poet
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dm200
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Re: Medicare - Part B

Post by dm200 »

Almost there wrote:In April I turned 65 and started Medicare by paying quarterly premium for Part A + B. My next premium will be for July - Sept.

I started a new job and will receive healthcare through my new employer starting in September.

How do I drop Part B as of October, since my premiums through my employer are lower than Medicare payments?

Almost there
I might be facing a similar issue in the coming months, so I am interested in this issue myself. Is it (or might it) be possible for the employer to coordinate the employer benefits with Medicare and pick up (or reimburse) the Part B fee? it seems to me that this would be a win-win for the employer, since the employer cost would be much less than fully covering an over 65 employee's health coverage.
OverTheHill
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Re: Medicare - Part B

Post by OverTheHill »

I know quite a few folks who are over 65 but still working at companies that provide comprehensive health coverage. In every case I'm aware of, the over 65 crowd is required to carry Medicare Parts A and B, then the company provides a Medigap policy and drug plan to cover the balance. As the prior reply indicated, you should check closely with your company's benefit manager to make sure you do things correctly. I started Medicare this past December, but I pay for my own Medigap and Drug plan, along with Parts A and B. Good luck.
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Almost there
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Re: Medicare - Part B

Post by Almost there »

I just don't want to pay an additional $100/month when I am charged $24/month by my employer with the health coverage being almost equal.

Almost there
bbqguru
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Re: Medicare - Part B

Post by bbqguru »

FWIW, our company is 25 people. When we have a person eligible for Medicare the group plan requires they take it and we provide them the Medigap policy.

I second the checking with HR, you may not have a choice.
gerrym51
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Re: Medicare - Part B

Post by gerrym51 »

Almost there wrote:I just don't want to pay an additional $100/month when I am charged $24/month by my employer with the health coverage being almost equal.

Almost there

if you know for a fact that you won't have to use medicare first just make sure you are able to get required documentation when you will need it
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bertilak
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Re: Medicare - Part B

Post by bertilak »

Almost there wrote:I just don't want to pay an additional $100/month when I am charged $24/month by my employer with the health coverage being almost equal.

Almost there
A quick Google of "creditable coverage part b" turned up lots of info. Apparently, the "creditable coverage" concept is applicable to Part D only, not Part B. From what I saw, those with health care coverage from current employment (self or spouse) can delay enrollment into Part B. But be careful:
  • Some of what I saw is old (2009)
  • I didn't see anything tells you how to prove to Medicare that you meet the conditions.
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dm200
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Re: Medicare - Part B

Post by dm200 »

Almost there wrote:I just don't want to pay an additional $100/month when I am charged $24/month by my employer with the health coverage being almost equal.

Almost there
For absolute certainty, with your only being charged $24, your employer is paying a very large premium (a LOT more than $100!) each month to cover you. That's why, however you and the employer set it up, the employer will be ahead quite a bit by latching on to your Medicare coverage.
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dm200
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Re: Medicare - Part B

Post by dm200 »

OverTheHill wrote:I know quite a few folks who are over 65 but still working at companies that provide comprehensive health coverage. In every case I'm aware of, the over 65 crowd is required to carry Medicare Parts A and B, then the company provides a Medigap policy and drug plan to cover the balance. As the prior reply indicated, you should check closely with your company's benefit manager to make sure you do things correctly. I started Medicare this past December, but I pay for my own Medigap and Drug plan, along with Parts A and B. Good luck.
For someone in this over 65 and Medicare eligible situation, is it allowable for the employer to just pay/reimburse the employee the $100 per month for Medicare?
OverTheHill
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Re: Medicare - Part B

Post by OverTheHill »

dm200 wrote:
OverTheHill wrote:I know quite a few folks who are over 65 but still working at companies that provide comprehensive health coverage. In every case I'm aware of, the over 65 crowd is required to carry Medicare Parts A and B, then the company provides a Medigap policy and drug plan to cover the balance. As the prior reply indicated, you should check closely with your company's benefit manager to make sure you do things correctly. I started Medicare this past December, but I pay for my own Medigap and Drug plan, along with Parts A and B. Good luck.
For someone in this over 65 and Medicare eligible situation, is it allowable for the employer to just pay/reimburse the employee the $100 per month for Medicare?
I do not know, but it would make sense that you could do it, but then what makes sense isn't always the correct answer in such matters. Talking the the HR person would be my first stop in terms of getting answers.
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dm200
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Re: Medicare - Part B

Post by dm200 »

OverTheHill wrote:
dm200 wrote:
OverTheHill wrote:I know quite a few folks who are over 65 but still working at companies that provide comprehensive health coverage. In every case I'm aware of, the over 65 crowd is required to carry Medicare Parts A and B, then the company provides a Medigap policy and drug plan to cover the balance. As the prior reply indicated, you should check closely with your company's benefit manager to make sure you do things correctly. I started Medicare this past December, but I pay for my own Medigap and Drug plan, along with Parts A and B. Good luck.
For someone in this over 65 and Medicare eligible situation, is it allowable for the employer to just pay/reimburse the employee the $100 per month for Medicare?
I do not know, but it would make sense that you could do it, but then what makes sense isn't always the correct answer in such matters. Talking the the HR person would be my first stop in terms of getting answers.
Yes, when/if things reach that point, I will do so. It often helps, though, to have an idea of what can and can not be done when you initiate that discussion. Adding to the complexity/conusion about such issues is the ongoing implementation of the "Affordable Care Act".
carolinaman
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Re: Medicare - Part B

Post by carolinaman »

Most companies require employees to enroll in medicare A&B after age 65 and their insurance provides medigap and maybe part D. If yours is an exception good for you. But be sure you fully understand medicare rules. They are tricky in situations like this and each progrm: B, medigap and D vary in how they handle enrollment past normal retirement age. I was given incorrect advice on later enrollment twice by state SHIP people. They are good on standard stuff, but not so good on non standard stuff which this is. Best wishes
mur44
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Re: Medicare - Part B

Post by mur44 »

If you work for a company with more than 20
employees, you can drop Medicare Part B
(you can save $104.90 per month). You can
simply accomplish this by signing (& witness) the back
of the Medicare card and mailing it. Alternately,
you can visit any Social Security office to do the same.

By the by, it is illegal for companies (with more than
20 employees) to require you to take Part B.

When you finally retire, you will have Special
Enrollment Period (SEP) to enroll into Part B
without incurring any premium penalty.


Disclosure: I am a Certified Volunteer Medicare Counselor from NJ
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