Do I need to get Medicare if I have insurance from my job?

Message Author
ampm-bookmark
delicious-small Add to delicious
yahoomyweb-small Add to YahooMyWeb
blinklist-small Add to BlinkList
PostPosted: Fri Jul 17, 2009 3:12 pm   Post subject: Do I need to get Medicare if I have insurance from my job?  

I have BlueShield Medical insurance. My copay is $15. My company takes care of it. I also have hospitalization for me and my spouse..

JOHNYTAYLOR90044
New member
Leave a quick message



Joined: 17 Jul 2009
Posts: 1


2.42 Dollars($)

PostPosted: Fri Jul 17, 2009 6:20 pm   Post subject:   

Quote:
I have BlueShield Medical insurance. My copay is $15. My company takes care of it. I also have hospitalization for me and my spouse..
Johnny, you can't even 'qualify' for Medicare till you're what? 65 or disabled I think. If you are still working and have medical insurance through your employer you 'couldn't' get Medicare...you're not eligible.


_________________

"Never, never be afraid to do what's right, especially if the well being of a person or animal is at stake. Society's punishments are small compared to the wounds we inflict on our soul when we look the other way." Martin Luther King Jr.
Lori
Forum Expert
Leave a quick message

Lori
Forum Expert

Joined: 10 Sep 2007
Posts: 8080

Location: Missouri
287.92 Dollars($)

PostPosted: Fri Jul 17, 2009 7:42 pm   Post subject:   

If he is 65, worked 40 quarters paying into the system, he is eligible. The Part A of Medicare is automatic and pays secondary to the employer plan. You can wait on Part B until you leave employment.

Pirate91
Member
Leave a quick message



Joined: 17 Jul 2008
Posts: 72


15.21 Dollars($)

PostPosted: Fri Jul 17, 2009 7:46 pm   Post subject:   

Well see there, learn something new every day...Johnny are you 65 and still working?



_________________

"Never, never be afraid to do what's right, especially if the well being of a person or animal is at stake. Society's punishments are small compared to the wounds we inflict on our soul when we look the other way." Martin Luther King Jr.
Lori
Forum Expert
Leave a quick message

Lori
Forum Expert

Joined: 10 Sep 2007
Posts: 8080

Location: Missouri
287.92 Dollars($)

PostPosted: Sat Jul 18, 2009 5:40 am   Post subject:   

Hello Johny,



If you qualify for Medicare, then why not? As the other members have mentioned you have to satisfy the age and other eligibility criteria in order to qualify for the Medicare benefits.



How old are you? Would your wife too qualify for Medicare when you would become eligible for it?

jeorge
Senior member
Leave a quick message

jeorge

Joined: 07 Oct 2005
Posts: 798


132.82 Dollars($)

PostPosted: Sat Jul 18, 2009 2:12 pm   Post subject:   

If she's 65, she qualifies or disabled for 2 years drawing SSDI.

Pirate91
Member
Leave a quick message



Joined: 17 Jul 2008
Posts: 72


15.21 Dollars($)

PostPosted: Sat Jul 18, 2009 5:02 pm   Post subject: medical card  

u must get a medical card youself bcoz u don't know when u leave company and the medical card is expensive when u buy at old age


_________________
Register Now to have your Insurance queries solved.
beeling
Guest







PostPosted: Mon Jul 20, 2009 5:18 pm   Post subject:   

As long as he has credible drug coverage, he can sign up for a Part D prior to losing his health insurance through his employer. He does not have to sign up for the Part D now, nor will he have to sign up for Part B.



He will not have any of the usual penalties associated with waiting to enroll because he is covered by insurance.

ChrisBantly
Senior member
Leave a quick message



Joined: 11 Mar 2009
Posts: 381

Location: Upstate SC
0.73 Dollars($)

PostPosted: Fri Aug 14, 2009 5:53 am   Post subject:   

What determines whether medicare will be primary or secondary?



_________________

mkortz
New member
Leave a quick message



Joined: 06 Aug 2009
Posts: 24

Location: Orange County
7.85 Dollars($)

PostPosted: Mon Aug 17, 2009 4:36 am   Post subject: Medicare primary or secondary?  

If your company provides insurance, it is primary. If you are 65, you will automatically provided with Medicare A but it is secondary. But be careful, Social Security will also enroll you in Part B unless you let them know in writing that you have your own health insurance. Part B will cost you $98 a month out of your SS check. This happened to my husband who informed them that he was being covered by my insurance. It took us 3 months after the first deduction from his SS check to get it stopped. Cost us $400 and the government refused to refund our money. So when I applied for SS, I went in in person and made it a point to let them know that I carry insurance thru my employer - had to talk to three different people and put it in writing with all my insurance info. There is a lot the gov doesn't tell you. This is a great place to get educated.


_________________
Register Now to have your Insurance queries solved.
Guest







PostPosted: Mon Aug 17, 2009 10:24 am   Post subject: Medicare primary or secondary  

There are specific guidelines to who is primary when insured by both a group health plan and Medicare.



If your Employer has 20+ employees then the Group health plan is primary. In the case of disability, there must be 50+ employees for the Group policy to be primary.



If you are 65 and have Medicare and your employer has less than 20 employees, Medicare is primary. In this situation it is best to sign up for part B of Medicare. This is the portion that pays the physician services. If you do not have part B the physician services will not be covered under either plan.

cboyagian
New member
Leave a quick message



Joined: 17 Aug 2009
Posts: 4

Location: Southeastern Michigan
2.30 Dollars($)

PostPosted: Sun Apr 11, 2010 7:24 pm   Post subject: medicare and group health  

thank you folks you were really a big help to me after i'd looked at countless web pages this is where i got my answers. Well done!


_________________
Register Now to have your Insurance queries solved.
getting ancient
Guest







PostPosted: Fri Apr 16, 2010 2:17 am   Post subject:   

Quote:
What determines whether medicare will be primary or secondary?




Medicare Part A is "automatic" at age 65, and there is no cost for a "fully-insured" beneficiary -- one who has obtained the required 40 Social Security "credits" (no longer called "quarters") before reaching age 65. Others who are not "fully-insured" pay a premium for Part A.



Part A covers the costs associated with hospitalization (inpatient services only, no doctor bills!). Part B (covers doctor bills, outpatient hospital expenses -- ER & diagnostics -- and certain other "medically-necessary" expenses such as durable medical equipment, transportation, etc.) is optional, and may be rejected at age 65, but everyone pays a premium for Part B. Rejecting Part B and/or Part D at age 65 could result in a 10% per year cumulative premium penalty when enrolling later in Part B, and a 1% per month penalty for not enrolling in a Part D plan at age 65.



However, a Medicare beneficiary still working at age 65 (there are lots of them these days, and there will be more in the future) and covered by an employer-sponsored health plan has the choice of whether to keep his employer's group health plan or not, and if they choose to keep it, whether to make it primary or secondary to Medicare.



Keeping the employer-sponsored plan primary might allow the employee to opt out of Medicare Part B (and Part D, if there is also prescription drug coverage). If so, there would be an eight month "special enrollment period" for Parts B & D if the beneficiary later drops or is no longer covered by the employer-sponsored plan, and the premium penalties would not apply.



But the employer will be required to pay a hugely inflated premium for any Medicare beneficiary that chooses to keep the group insurance and make it primary to Medicare -- as much as triple the standard group rate -- which may be passed on to the employee, an incentive to get the employee to make the group plan secondary to Medicare if they choose to keep it.



The reason is that the group plan (probably) provides substantially better benefits than Medicare Parts A & B, and D.



So why keep the employer-sponsored plan but make it secondary? Simple, use Medicare when the service is covered, mostly taking the employer plan off the hook, and use the employer plan only when Medicare doesn't cover a procedure or some or all of the cost of care.



Properly coordinated, an employer-sponsored plan secondary to Medicare will often result in very little out of pocket expense.



But the rub may also be that to keep the employer-sponsored plan as secondary, the insurer may require that the employee enroll in Medicare Part B, for which there is a monthly premium. Paying a premium for both Medicare Part B and the group plan may be a financial burden.



If the employee drops the group plan and accepts Medicare, this is a qualifying event under COBRA and his/her qualified dependents under age 65 could elect to continue the group plan, albeit by paying 100% of the cost, for up to 36 months.


_________________

CA-licensed Life & Disability Analyst. CA Insurance Lic #0596197. Also investigating insurance company abuses, and providing litigation support/expert witness services. Send me your questions, and I'll send you my answers.
MaxHerr
Forum Expert
Leave a quick message

MaxHerr
Forum Expert

Joined: 29 Nov 2009
Posts: 7279
Highets Points
Location: Pomona CA
56.17 Dollars($)

PostPosted: Tue Jul 20, 2010 11:37 pm   Post subject: medicare  

Iam turnig 65 have my own company, still working, I pay my own insurance. Medicare with supplementials is $10.00 higher then my current insurance. I don't collect SSN - why do I need medicare


_________________
Register Now to have your Insurance queries solved.
spook1
Guest







PostPosted: Wed Jul 21, 2010 3:05 am   Post subject:   

When you say "Medicare with supplementals" are you talking about a Medicare Supplement insurance plan? In what part of the country do you live?



Depending on where in the country you live, there may be one or more Medicare Advantage HMO or PPO plans you could enroll in. Where there is sufficient competition among carriers, there may be a low -- or even no -- premium in addition to your Medicare Part B premium, which will be about $111. Even if the Medicare Advantage plan premium was $150 (most are well below that), your total premium between the two would only be about $250 per month . . . probably less than what your premium is for your medical insurance today.



However, as long as you continue your current medical coverage (assuming you can after turning age 65), you are not required to enroll in Medicare Part B -- but that means having to officially "opt out" by completing the form that Social Security will send you. Medicare Part A is automatic and premium-free for all persons beginning at age 65 if "fully insured" (or their spouse is "fully insured") for Social Security retirement benefits, whether you start collecting them at age 66 or not. You can delay commencement of your Social Security retirement benefit to age 70, and will receive a higher monthly benefit for doing so.



After age 65, if you drop your medical insurance (or it terminates you due to age), you will have 8 months to enroll in Medicare Part B and begin paying premiums for it without a penalty. But there is a 10% premium penalty for every 12 months after age 65 that you are not enrolled in a group/private health insurance plan and not enrolled in Medicare Part B.



The penalty is both cumulative and lifetime. Go two years prior to being enrolled in Medicare Part B and without "creditable coverage" in a personal/group health plan, and you will pay the current Part B premium + 20% of that amount. As Part B premiums go up, so will your 20% penalty amount.



If your medical insurance plan does not have a prescription drug benefit, you will need to enroll in a Medicare Part D prescription drug plan (PDP) -- there are no new Medicare Supplement insurance plans being sold which include prescription drug benefits. Failure to enroll in a Part D PDP will invite a 1% lifetime premium penalty for EACH MONTH you do not have "creditable coverage".



So make sure you fully understand what you may do, what you must do, and what you should not do in order to avoid lapses in coverage or premium penalties for the rest of your life.



You can email or PM me with any additional questions.



_________________

CA-licensed Life & Disability Analyst. CA Insurance Lic #0596197. Also investigating insurance company abuses, and providing litigation support/expert witness services. Send me your questions, and I'll send you my answers.
MaxHerr
Forum Expert
Leave a quick message

MaxHerr
Forum Expert

Joined: 29 Nov 2009
Posts: 7279
Highets Points
Location: Pomona CA
56.17 Dollars($)

Quick Reply
Your Name
Subject
Message body
All times are GMT
1, 2, 3, 4, 5, 6  Next  
Page 1 of 6


Get a Quote
Ask Community Experts

flash plugin

Quick Links

Must See

Community

Hot topics in forums

Latest in blogs

AmPmInsure on Facebook



Page loaded in 0.194 seconds.