Thanks Danielle, I retired in January 2022 and applied for Medicare Part B. I have been informed that I do not need to apply for Part B if I still have medical coverage from my previous employer and am also covered under my husband's health insurance plan.
Hi Linda, congrats on your retirement! Retiree coverage is not creditable for Medicare. However, if your husband actively works for an employer with 20+ employees and you're covered by their health plan, you can delay Medicare until he retires. Check out our article on how to disenroll from Medicare: boomerbenefits.com/how-to-disenroll-from-medicare/
We completely understand, Claudia! We try to help prepare beneficiaries as much as we can to set them up for Medicare success. If you would ever like help with your Medicare journey or just have a question, don't hesitate reaching out to us at 817-249-8600!
VERY helpful video Danielle How long after enrolling on the website for A and B does it take to go into effect. I want to retire the end of 2022 and have employer based insurance. I want Medicare to kick in Jan 1st 2023.
Hi Jackie - We're happy you found our video helpful! When you apply for Medicare, you will be able to write the effective date you wish for your Medicare to start! With that said, we would recommend applying for Medicare a month or two before your desired start date. So in your case, we recommend applying for Medicare in November 2022. Also, you will not be able to apply for Medicare online. You would have to fill out the paper application and submit it to the Social Security office, along with the CMS-L564 form, which proves you have been covered by creditable coverage while you were delaying Medicare.
I heard you mention creditable insurance. That should be explained. For instance if you are covered as a domestic partner it is not considered creditable coverage.
Hi Missy - thank you for pointing that out. Yes, creditable coverage through a domestic partnership is not creditable for Part B. If you have any other questions, please let us know.
Hi, thanks for this video. I am a federal employee and about to turn 65, so I am signing up for Part A. I will retire at age 67. When I retire, will I have to pay 20 percent more for Part B as I didn’t sign up when I was first able to at 65?
Hi Kathleen - If you continue to have insurance past 65 from an employer that has 20 or more employees and you actively work for that employer, then you can delay all of Medicare until you retire without having to pay the penalty.
What happens for US citizens with part A who never enrolled into part B because they lived overseas and had health coverage elsewhere? Does having overseas NH coverage make it possible to avoid late fees? How long does it take to be able to use medicare once enrolled?Would the US embassy overseas be able to allow one to enroll into part B before entering the US?
Hi there - We will have a video on this topic soon! Check out our article here where you will find many of these answers: boomerbenefits.com/do-i-need-medicare-when-living-abroad/
Thanks Danielle for your very informative videos. I'm a recent subscriber so I may have missed the information regarding my current situation. I turn 70 at the end of August so I will be getting the maximum SS benefit. I will be retiring the end of this year. My wife (who is 65) has been with me on my group health ins.We both are enrolled in Medicare Part A. When should we apply for Part B? And I believe we BOTH have to have the CMS FORMS completed as well, correct?
Hi William - We recommend applying for Medicare 2 months before you plan on retiring! However, you will have an 8-month Special Enrollment Period (SEP) to apply for Medicare Part B without a penalty. You will have a 2-month SEP to apply for a Part D plan. This SEP begins on the day you retire or lose active employer coverage! Now, if your wife will still be in her Initial Enrollment Period (IEP) whenever you retire, she will need to apply for Medicare during her IEP. But, if she is outside her IEP, she will have the same 8-month and 2-month SEP for Part B and Part D. In this case, yes, you will both need to submit form CMS-L564 to the Social Security office.
Danielle, great video as always I have a question that no one really covers. My full retirement age is 66.6. I have VA benefits right now, is that considered credible insurance or do I have to start paying or should start paying at 65?
Hi John - The VA isn’t creditable coverage for Part A or Part B, so if you just have the VA coverage without creditable employer coverage then you would want to enroll in Part A and Part B to avoid late penalties and to have access to civilian doctors and hospitals if you ever needed them. However, the VA is creditable coverage for Part D. Medicare has nothing to do with your full retirement age. Your Medicare age is 65-years-old. You will want to enroll in Medicare during your Initial Enrollment Period which is 3 months before your 65th birthday month and ends 3 months after your birth month. Here is more information: boomerbenefits.com/veterans-medicare-va-benefits/ boomerbenefits.com/new-to-medicare/apply-for-medicare/
My husband did not sign up for a part D when he signed up for Medicare because he does not take any medications. Seven years later he is signing up for a Medicare Advantage plan which includes a drug coverage. Medicare is now going to penalize him for not signing up for a drug plan from the time he signed up for Medicare, seven years ago. I plan on appealing this decision stating that he would have paid an average of $50.00 a month for a plan that he would not have used. We estimated he would have paid approximately $4200.00 over the seven years for nothing. Do you think this is a reasonable request and what are your thoughts about the outcome of appealing?
I am retiring next year in August when I turn 70. I already have part A now and employer group insurance. When I retire can I apply for SSI , medigap and part D at the same time?
Hi Jaye, yes, you can apply for Social Security, Medicare Part B, a Medigap, and Part D plan at the same time. Please know that your Social Security enrollment is entirely different than your Medicare enrollment. If you would like help with your Medicare enrollment, please give us a call at 817-249-8600. Check out our article here where we talk about applying for Social Security benefits: boomerbenefits.com/when-to-apply-for-social-security/
Thanks for the video. I am still working and contributing to HSA, I would like to defer my Medicare. I have Multiemployer health plan via ADP even though my employer has just under 20 employees. Can I defer the Medicare enrollment until I retire? Thanks!
Hi Charles, if you actively work for a large employer with 20+ employees and you're covered by their health insurance, you can delay all parts of Medicare until you retire! You will just want to make sure you stop HSA contributions at least 6 months before you apply for Medicare to avoid a potential IRS penalty. Check out our two videos titled, Health Savings Account and Medicare, and Medicare & Employer Coverage | Should You Enroll In Part B?
Hi there, If you continue to have insurance past 65 from an employer that has 20 or more employees and you or your spouse actively works for that employer, then you can delay all of Medicare until you retire without having to pay the penalty. However, Part A is $0/month for most people, so you can go ahead and enroll in Part A to have extra hospital stay coverage (unless you plan to contribute to a health savings account). Now, if your employer has LESS than 20 employees, you will need to enroll in Medicare during your Initial Enrollment Period to avoid any late enrollment penalties.
If I decide to forgo applying for social security until age 70 and continue to work well into my 70’s and keep my large employer high deductible health plan and continue contributing to my HSA do I need to notify the government that I am not signing up for Medicare part A at age 65 or can I simply do nothing until I near work stoppage? Is the answer to this question the same in all 50 states?
If you actively work for a large employer with 20+ employees and you have their insurance, then you can delay all parts of Medicare without being charged a penalty. You do not have to notify anyone and this is the same across all 50 states. You will just want to be sure your employer fills out the CMS-L564 form when you near retirement, which shows you have been covered by creditable coverage while you were delaying Medicare.
Does Part G supplement cost more for a 68-year-old male non-smoker than for a 65-year-old female non-smoker? I read somewhere that a 68-year-old man non-smoker would be charged at least $400.00 more per month for Plan G?
Hi there, a Medigap premium depends on other factors, as well, such as your zip code and the carrier you purchase the plan from! We would need to gather more information from you to give you an accurate answer. If you would be interested in a free quote, please give us a call at 817-249-8600!
My Wife is 7 years younger than I am and 1'm on her Insurance through her employer. I'm just over 64 and will work until 66.5 for full retirement. Since I'm covered under her work insurance when do I need to file for Medicare part A and B?
Hi Doug - If you continue to have insurance past 65 from an employer that has 20 or more employees and you or your spouse actively works for that employer, then you can delay all of Medicare until you retire without having to pay the penalty. However, Part A is $0/month for most people, so you can go ahead and enroll in Part A to have extra hospital stay coverage (unless you plan to contribute to an H.S.A. account). Now, once you do retire/lose active employer coverage (whichever comes first), you will have an 8-month Special Enrollment Period (SEP) to enroll in Medicare Part A and Part B, and a 2-month SEP to enroll in a Part D plan without a late enrollment penalty. Once your Part B becomes effective, your 6-month Medigap Open Enrollment will begin. You can learn more about this by watching our video: Retiring Past 65? Learn How Your Medicare Enrollment is Different!
Great info. Thanks. When you say “your employer coverage,” do you mean “the employer through which you get coverage”? That is, if my wife works past age 65 but has current medical coverage through MY employer (not through hers) and if my employer’s health coverage (that includes her) is “creditable coverage” (ie, more than 20 employers), is she considered “covered” and not required to make an immediate choice within 3 months of her birthday?
If you are actively working for a large employer with 20+ employees and you and your wife are covered under your employer insurance, you both can delay Medicare until you retire/lose active employer insurance. Learn more: boomerbenefits.com/new-to-medicare/medicare-and-employer-coverage/
Do you have to file any paperwork with Medicare or Social Security to let them know that you want to delay all of your Medicare benefits? I am working pass 65 and I have health insurance with an HSA from my employer. I called Social Security, and the rep told me to file form 40B and CMSL564 but write on it that I want to delay my benefits. Is that correct?
Yes, that is correct! You will have your employer fill out the form CMS-L564, which proves you were covered by creditable coverage while delaying Medicare. The form CMS-40B is the Part B application. You will submit both of these forms to the Social Security office when you apply for Medicare. Learn more here: boomerbenefits.com/enrolling-in-medicare-after-working-past-65/
Hi there! Yes, you can apply for Medicare Part A at anytime as long as your stop all HSA contributions at least 6 months before you apply to avoid a potential IRS penalty.
My husband is still working at age 69, he did not sign up for part B, he is under my medical coverage from my employer which has more than 20 employees. I am going to retire soon and would like to sign him up for medicare advantage coverage, Does he need to apply for medicare part B before he can get Medicare advantage? Thank you.
Yes, he will need to have already applied for Part B before he can get a Medicare Advantage plan. However, he will have 8 months from the time he loses employer coverage to add on Part B without penalty. He can apply for Part B while still covered under work insurance if he'd like so he has no lapse in coverage.
Hi Danielle, thanks for time! Your videos are great! My mom is 71 she, is a seamtrees working as an independent. She finally reached the 40 credits!! During all of this years, she was paying Obama/Market place insurance. (as an independent). She does not what to retired yet. Can she delay part B whitout any penalty cost? a) She is not ready to retired and b) she will still paying the Obama/Market insurance coverage. And one more time thanks for you value time!!
Hi Mariana - We're happy to hear she now has the 40 credits and wants to continue working! However, the only way she can delay Medicare without a penalty is if she is actively working for a large employer with 20+ employees, and is covered by their group insurance. Since your mom is working independently and has insurance through the marketplace, she will want to enroll in Medicare during her Initial Enrollment Period. Once she becomes eligible for Medicare, her Marketplace premium will be much more expensive than if she were enrolled with Medicare.
@@bobg4657 Unless you have an HSA and High Deductible Employer Group Plan; then wait to apply for Medicare A and B when you retire. You can't have both HSA and any Medicare. My friend had to receive back 6 months of HSA deductions when he applied for A so it even goes back a while.
If you continue to have insurance past 65 from an employer that has 20 or more employees and you or your spouse actively works for that employer, then you can delay Medicare until you retire without having to pay the penalty. However, Part A is $0/month for most people, so you can go ahead and enroll in Part A to have extra hospital stay coverage (unless you plan to contribute to an H.S.A. account). Here are some resources that will help you: boomerbenefits.com/new-to-medicare/medicare-and-employer-coverage/ ua-cam.com/video/pc52QedOIMY/v-deo.html
Hi Danielle, My sister-in-law lives in AR and has Cancer. She is still employed in a company considered a large group, more than 20 employees. She is on Long Term disability with the company and will be 65 in August but hopes to go back to work depending on the Cancer. Can you help us with signing up for Medigap or whatever you think is best with her since we are in AR? I would love for you to email me the best way to contact you. Your videos are wonderful
Yes, Medicare is very confusing.. That's why we are always putting out content to help and many people find it helpful to watch more than once. If you haven't attended our free webinar for people new to Medicare, you might try that, as we start with the basics there: boomerbenefits.com/webinars
Hi Milton - If your wife is not covered by creditable employer coverage, she must enroll in Medicare during her Initial Enrollment Period. The IEP begins 3 months before her 65th birthday month and ends 3 months after her birth month. If she's turning 65 in June, her IEP began March 1 and ends on September 30. So she can apply for Medicare now. Here is more information: boomerbenefits.com/new-to-medicare/apply-for-medicare/
If you continue to have insurance past 65 from an employer that has 20 or more employees and you or your spouse actively works for that employer, then you can delay Medicare until you retire without having to pay the penalty. However, Part A is $0/month for most people, so you can go ahead and enroll in Part A to have extra hospital stay coverage (unless you plan to contribute to an H.S.A. account). Here are some resources that will help you: boomerbenefits.com/new-to-medicare/medicare-and-employer-coverage/ ua-cam.com/video/pc52QedOIMY/v-deo.html
Per social security, this does not apply if you are a same-sex couple. They do not recognize domestic partnership or civil unions. I did reach to Boomer Benefits and I was told as domestic partners I could delay enrolling for Part B until my partner retires without a penalty. I turned 65 4 years ago and I have been on my partners insurance since then. Can anyone help me with this?
If you're covered under insurance based on current employment, by an employer with 20+ employees, you can delay Part B enrollment. It doesn't matter who you have that insurance through as long as the employee is actively working for a large employer. They don't ask about the marital status at all
Age 65 is a Medicare age, right? That age of 65 is what is important. It doesn't matter if my Full Retirement Age for Social Security is 66 years and 8 months.
Yes, you will become eligible for Medicare at age 65 if you aren't receiving SSDI. Your Medicare and Social Security enrollment are entirely separate! Check out our UA-cam video titled, When You Should Apply for Social Security to Maximize Your Benefits!
While I hope you are making an ironic joke, let's run through some facts. To begin with, here are other things that are socialized: public education, public health organizations, taxing, government itself, military, police, roads, most water systems, and then go look into corporates grants, subsidies, and tax "incentives. At least, "The Fed" is a private for-profit business. You clearly have never seen an itemized hospital bill to get any realistic perspective on what US "healthcare" is. Hint - it's insanely greedy providers. On top of that, most hospitals get out of paying any taxes whatsoever, because they are "non-profit". Greed, you say, from whom? Furthermore, insurers are allowed to change coverage at random without notification, even-retroactively; and they always "negotiate" hugely lower bills than an uninsured person would pay. Or does greed solve every problem it creates? Of course, that would be a complete contradiction, but that never slows anybody down.
We hear you, Martin! If you would like help understanding your different plan options and finding the most cost-effective plan in your area, give us a call at 817-249-8600 and we would be more than happy to assist you! Check out our free Medicare resources here: boomerbenefits.com/medicare-resources/
@@-myal-8691 While I can't say what is "enough", I can say it is nearly universally accepted that "too much is never enough". Your results may vary. Best.
I am currently in my SEP..have enrolled in Part A and am covered by fully subsidized COBRA (that was part of my package from my previous employer) through the end of June. I planned on enrolling for Part B during my SEP in early June so it would be effective July 1st. Here's the question...I'm considering returning to the full-time employment for another couple of years and close to an offer. That could mean that I'd be under another group health plan starting in early June. Can I assume that I won't have to utilize the SEP at all, and not enroll in Part B because I'm going onto another employer plan?
Hi Jack - If you will be actively working for a large employer and will be covered by their insurance, you can delay enrolling in Medicare Part B. However, if there is a gap in coverage from your SEP ending and you not yet being covered by large employer insurance, there is a chance you will receive a penalty if you are not covered by creditable insurance at the time. As long as that new employer insurance will start before your 8 month window ends, then you won't have a penalty.
I'm turning 65 in 33 Years, I book marked this video for later, thanks!
Good for you! Remember the years go by very fast.
Thanks Danielle, I retired in January 2022 and applied for Medicare Part B. I have been informed that I do not need to apply for Part B if I still have medical coverage from my previous employer and am also covered under my husband's health insurance plan.
Hi Linda, congrats on your retirement! Retiree coverage is not creditable for Medicare. However, if your husband actively works for an employer with 20+ employees and you're covered by their health plan, you can delay Medicare until he retires. Check out our article on how to disenroll from Medicare: boomerbenefits.com/how-to-disenroll-from-medicare/
This is so
Complicated! I can't believe people of age have
To fo through all this hassle for health insurance! Ridiculous to say
The least!
We completely understand, Claudia! We try to help prepare beneficiaries as much as we can to set them up for Medicare success. If you would ever like help with your Medicare journey or just have a question, don't hesitate reaching out to us at 817-249-8600!
Medicare is socialized medical care for seniors. That is why the premiums are so low. My monthly premium is only $578.00
Good info Danielle!
Thanks for watching!
VERY helpful video Danielle
How long after enrolling on the website for A and B does it take to go into effect. I want to retire the end of 2022 and have employer based insurance. I want Medicare to kick in Jan 1st 2023.
Hi Jackie - We're happy you found our video helpful! When you apply for Medicare, you will be able to write the effective date you wish for your Medicare to start! With that said, we would recommend applying for Medicare a month or two before your desired start date. So in your case, we recommend applying for Medicare in November 2022. Also, you will not be able to apply for Medicare online. You would have to fill out the paper application and submit it to the Social Security office, along with the CMS-L564 form, which proves you have been covered by creditable coverage while you were delaying Medicare.
@@BoomerBenefits
Thank you so so much 😊
@@jackieking3417 Happy to help!
Love your videos. They're very helpful.
I'm so glad!
I heard you mention creditable insurance. That should be explained. For instance if you are covered as a domestic partner it is not considered creditable coverage.
Hi Missy - thank you for pointing that out. Yes, creditable coverage through a domestic partnership is not creditable for Part B. If you have any other questions, please let us know.
You need to work for the government and show them how to explain their own programs!
Well done.
Hi, thanks for this video. I am a federal employee and about to turn 65, so I am signing up for Part A. I will retire at age 67. When I retire, will I have to pay 20 percent more for Part B as I didn’t sign up when I was first able to at 65?
Hi Kathleen - If you continue to have insurance past 65 from an employer that has 20 or more employees and you actively work for that employer, then you can delay all of Medicare until you retire without having to pay the penalty.
I had no coverage for 30 years. This is America.
We run into people who were in similar situations all the time - fortunately, most find Medicare affordable and it's good coverage as well.
I have to continue working until I'm 66 years and 8 months to start my income part.
That is great! We are glad you were able to get the right date!
What happens for US citizens with part A who never enrolled into part B because they lived overseas and had health coverage elsewhere? Does having overseas NH coverage make it possible to avoid late fees? How long does it take to be able to use medicare once enrolled?Would the US embassy overseas be able to allow one to enroll into part B before entering the US?
Hi there - We will have a video on this topic soon! Check out our article here where you will find many of these answers: boomerbenefits.com/do-i-need-medicare-when-living-abroad/
How long does the appeal process usually take?
Thanks Danielle for your very informative videos. I'm a recent subscriber so I may have missed the information regarding my current situation. I turn 70 at the end of August so I will be getting the maximum SS benefit. I will be retiring the end of this year. My wife (who is 65) has been with me on my group health ins.We both are enrolled in Medicare Part A. When should we apply for Part B? And I believe we BOTH have to have the CMS FORMS completed as well, correct?
Hi William - We recommend applying for Medicare 2 months before you plan on retiring! However, you will have an 8-month Special Enrollment Period (SEP) to apply for Medicare Part B without a penalty. You will have a 2-month SEP to apply for a Part D plan. This SEP begins on the day you retire or lose active employer coverage! Now, if your wife will still be in her Initial Enrollment Period (IEP) whenever you retire, she will need to apply for Medicare during her IEP. But, if she is outside her IEP, she will have the same 8-month and 2-month SEP for Part B and Part D. In this case, yes, you will both need to submit form CMS-L564 to the Social Security office.
@@BoomerBenefits Thanks for your help Danielle!
Danielle, great video as always I have a question that no one really covers. My full retirement age is 66.6. I have VA benefits right now, is that considered credible insurance or do I have to start paying or should start paying at 65?
Hi John - The VA isn’t creditable coverage for Part A or Part B, so if you just have the VA coverage without creditable employer coverage then you would want to enroll in Part A and Part B to avoid late penalties and to have access to civilian doctors and hospitals if you ever needed them. However, the VA is creditable coverage for Part D.
Medicare has nothing to do with your full retirement age. Your Medicare age is 65-years-old. You will want to enroll in Medicare during your Initial Enrollment Period which is 3 months before your 65th birthday month and ends 3 months after your birth month.
Here is more information: boomerbenefits.com/veterans-medicare-va-benefits/
boomerbenefits.com/new-to-medicare/apply-for-medicare/
My husband did not sign up for a part D when he signed up for Medicare because he does not take any medications. Seven years later he is signing up for a Medicare Advantage plan which includes a drug coverage. Medicare is now going to penalize him for not signing up for a drug plan from the time he signed up for Medicare, seven years ago. I plan on appealing this decision stating that he would have paid an average of $50.00 a month for a plan that he would not have used. We estimated he would have paid approximately $4200.00 over the seven years for nothing. Do you think this is a reasonable request and what are your thoughts about the outcome of appealing?
You likely won't get an approval on that appeal, but it's worth a shot. We wish you the best of luck.
I am retiring next year in August when I turn 70. I already have part A now and employer group insurance. When I retire can I apply for SSI , medigap and part D at the same time?
Hi Jaye, yes, you can apply for Social Security, Medicare Part B, a Medigap, and Part D plan at the same time. Please know that your Social Security enrollment is entirely different than your Medicare enrollment. If you would like help with your Medicare enrollment, please give us a call at 817-249-8600.
Check out our article here where we talk about applying for Social Security benefits: boomerbenefits.com/when-to-apply-for-social-security/
Thanks for the video. I am still working and contributing to HSA, I would like to defer my Medicare. I have Multiemployer health plan via ADP even though my employer has just under 20 employees. Can I defer the Medicare enrollment until I retire? Thanks!
Hi Charles, if you actively work for a large employer with 20+ employees and you're covered by their health insurance, you can delay all parts of Medicare until you retire! You will just want to make sure you stop HSA contributions at least 6 months before you apply for Medicare to avoid a potential IRS penalty. Check out our two videos titled, Health Savings Account and Medicare, and Medicare & Employer Coverage | Should You Enroll In Part B?
I'm turning 65 in April if I continue working do I need to apply for Medicare? Will there be a monthly premium to pay
Hi there, If you continue to have insurance past 65 from an employer that has 20 or more employees and you or your spouse actively works for that employer, then you can delay all of Medicare until you retire without having to pay the penalty.
However, Part A is $0/month for most people, so you can go ahead and enroll in Part A to have extra hospital stay coverage (unless you plan to contribute to a health savings account).
Now, if your employer has LESS than 20 employees, you will need to enroll in Medicare during your Initial Enrollment Period to avoid any late enrollment penalties.
If I decide to forgo applying for social security until age 70 and continue to work well into my 70’s and keep my large employer high deductible health plan and continue contributing to my HSA do I need to notify the government that I am not signing up for Medicare part A at age 65 or can I simply do nothing until I near work stoppage? Is the answer to this question the same in all 50 states?
If you actively work for a large employer with 20+ employees and you have their insurance, then you can delay all parts of Medicare without being charged a penalty. You do not have to notify anyone and this is the same across all 50 states. You will just want to be sure your employer fills out the CMS-L564 form when you near retirement, which shows you have been covered by creditable coverage while you were delaying Medicare.
Does Part G supplement cost more for a 68-year-old male non-smoker than for a 65-year-old female non-smoker? I read somewhere that a 68-year-old man non-smoker would be charged at least $400.00 more per month for Plan G?
Hi there, a Medigap premium depends on other factors, as well, such as your zip code and the carrier you purchase the plan from! We would need to gather more information from you to give you an accurate answer. If you would be interested in a free quote, please give us a call at 817-249-8600!
My Wife is 7 years younger than I am and 1'm on her Insurance through her employer. I'm just over 64 and will work until 66.5 for full retirement. Since I'm covered under her work insurance when do I need to file for Medicare part A and B?
Hi Doug - If you continue to have insurance past 65 from an employer that has 20 or more employees and you or your spouse actively works for that employer, then you can delay all of Medicare until you retire without having to pay the penalty.
However, Part A is $0/month for most people, so you can go ahead and enroll in Part A to have extra hospital stay coverage (unless you plan to contribute to an H.S.A. account).
Now, once you do retire/lose active employer coverage (whichever comes first), you will have an 8-month Special Enrollment Period (SEP) to enroll in Medicare Part A and Part B, and a 2-month SEP to enroll in a Part D plan without a late enrollment penalty. Once your Part B becomes effective, your 6-month Medigap Open Enrollment will begin.
You can learn more about this by watching our video: Retiring Past 65? Learn How Your Medicare Enrollment is Different!
Great info. Thanks.
When you say “your employer coverage,” do you mean “the employer through which you get coverage”? That is, if my wife works past age 65 but has current medical coverage through MY employer (not through hers) and if my employer’s health coverage (that includes her) is “creditable coverage” (ie, more than 20 employers), is she considered “covered” and not required to make an immediate choice within 3 months of her birthday?
If you are actively working for a large employer with 20+ employees and you and your wife are covered under your employer insurance, you both can delay Medicare until you retire/lose active employer insurance.
Learn more: boomerbenefits.com/new-to-medicare/medicare-and-employer-coverage/
Do you have a video on the subject of medicare vs an employer HSA/ high deductible style health plan?
Let us know if these two videos help.
ua-cam.com/video/pc52QedOIMY/v-deo.html
ua-cam.com/video/yma73WHuZ3g/v-deo.html
Do you have to file any paperwork with Medicare or Social Security to let them know that you want to delay all of your Medicare benefits? I am working pass 65 and I have health insurance with an HSA from my employer. I called Social Security, and the rep told me to file form 40B and CMSL564 but write on it that I want to delay my benefits. Is that correct?
Yes, that is correct! You will have your employer fill out the form CMS-L564, which proves you were covered by creditable coverage while delaying Medicare. The form CMS-40B is the Part B application. You will submit both of these forms to the Social Security office when you apply for Medicare.
Learn more here: boomerbenefits.com/enrolling-in-medicare-after-working-past-65/
what if your max benefit age is 66 4mos
Hi Danielle, I am 66+ and still working . Can I apply for Medicare part A any time after I stop HSA contribution at least 6 month ?
Hi there! Yes, you can apply for Medicare Part A at anytime as long as your stop all HSA contributions at least 6 months before you apply to avoid a potential IRS penalty.
My husband is still working at age 69, he did not sign up for part B, he is under my medical coverage from my employer which has more than 20 employees. I am going to retire soon and would like to sign him up for medicare advantage coverage, Does he need to apply for medicare part B before he can get Medicare advantage? Thank you.
Yes, he will need to have already applied for Part B before he can get a Medicare Advantage plan. However, he will have 8 months from the time he loses employer coverage to add on Part B without penalty. He can apply for Part B while still covered under work insurance if he'd like so he has no lapse in coverage.
Hi Danielle, thanks for time! Your videos are great! My mom is 71 she, is a seamtrees working as an independent. She finally reached the 40 credits!! During all of this years, she was paying Obama/Market place insurance. (as an independent). She does not what to retired yet. Can she delay part B whitout any penalty cost? a) She is not ready to retired and b) she will still paying the Obama/Market insurance coverage. And one more time thanks for you value time!!
Hi Mariana - We're happy to hear she now has the 40 credits and wants to continue working! However, the only way she can delay Medicare without a penalty is if she is actively working for a large employer with 20+ employees, and is covered by their group insurance. Since your mom is working independently and has insurance through the marketplace, she will want to enroll in Medicare during her Initial Enrollment Period. Once she becomes eligible for Medicare, her Marketplace premium will be much more expensive than if she were enrolled with Medicare.
@@BoomerBenefits Thanks very much for your quick answer and your professional advice!!!!
@@marianatirante612 Happy to help!
What if I'm still working full time at and beyond 65 should I apply for Medicare part A& B when y turn 65?
Part A yes, at 65. Part B hold off until your employer benefits ends.
@@bobg4657 Unless you have an HSA and High Deductible Employer Group Plan; then wait to apply for Medicare A and B when you retire.
You can't have both HSA and any Medicare. My friend had to receive back 6 months of HSA deductions when he applied for A so it even goes back a while.
If you continue to have insurance past 65 from an employer that has 20 or more employees and you or your spouse actively works for that employer, then you can delay Medicare until you retire without having to pay the penalty. However, Part A is $0/month for most people, so you can go ahead and enroll in Part A to have extra hospital stay coverage (unless you plan to contribute to an H.S.A. account). Here are some resources that will help you:
boomerbenefits.com/new-to-medicare/medicare-and-employer-coverage/
ua-cam.com/video/pc52QedOIMY/v-deo.html
Hi Danielle, My sister-in-law lives in AR and has Cancer. She is still employed in a company considered a large group, more than 20 employees. She is on Long Term disability with the company and will be 65 in August but hopes to go back to work depending on the Cancer. Can you help us with signing up for Medigap or whatever you think is best with her since we are in AR? I would love for you to email me the best way to contact you. Your videos are wonderful
Hi Cindy - Yes, we can most certainly help your sister and look into her options! Please have her give us a call at her convenience at 817-249-8600.
How many seniors really understand what you’re saying? Medicare is too confusing.
Amen!
Sign up at 65.
Seem simple to me.
I'm not working past 55.
Yes, Medicare is very confusing.. That's why we are always putting out content to help and many people find it helpful to watch more than once. If you haven't attended our free webinar for people new to Medicare, you might try that, as we start with the basics there: boomerbenefits.com/webinars
@@blackworldtraveler3711 must be nice
wife turn 65 june 24 where do i get her on part A and B
Hi Milton - If your wife is not covered by creditable employer coverage, she must enroll in Medicare during her Initial Enrollment Period. The IEP begins 3 months before her 65th birthday month and ends 3 months after her birth month.
If she's turning 65 in June, her IEP began March 1 and ends on September 30. So she can apply for Medicare now.
Here is more information: boomerbenefits.com/new-to-medicare/apply-for-medicare/
My wife turned 65 in the hospital that I work for said that they will drop her from our insurance so at that time she will be eligible for part b in a
When should my wife apply? I carry our coverage through my employer and she will turn 65 14 months before I will.
If you continue to have insurance past 65 from an employer that has 20 or more employees and you or your spouse actively works for that employer, then you can delay Medicare until you retire without having to pay the penalty. However, Part A is $0/month for most people, so you can go ahead and enroll in Part A to have extra hospital stay coverage (unless you plan to contribute to an H.S.A. account). Here are some resources that will help you:
boomerbenefits.com/new-to-medicare/medicare-and-employer-coverage/
ua-cam.com/video/pc52QedOIMY/v-deo.html
Per social security, this does not apply if you are a same-sex couple. They do not recognize domestic partnership or civil unions. I did reach to Boomer Benefits and I was told as domestic partners I could delay enrolling for Part B until my partner retires without a penalty. I turned 65
4 years ago and I have been on my partners insurance since then. Can anyone help me with this?
If you're covered under insurance based on current employment, by an employer with 20+ employees, you can delay Part B enrollment. It doesn't matter who you have that insurance through as long as the employee is actively working for a large employer. They don't ask about the marital status at all
Age 65 is a Medicare age, right? That age of 65 is what is important. It doesn't matter if my Full Retirement Age for Social Security is 66 years and 8 months.
Yes, you will become eligible for Medicare at age 65 if you aren't receiving SSDI. Your Medicare and Social Security enrollment are entirely separate! Check out our UA-cam video titled, When You Should Apply for Social Security to Maximize Your Benefits!
Oh my goodness
🤪
Federal government sets premiums, Dr.'s fees, who and what is covered? This is socialized medicine. Greedy old people love it!
While I hope you are making an ironic joke, let's run through some facts.
To begin with, here are other things that are socialized: public education, public health organizations, taxing, government itself, military, police, roads, most water systems, and then go look into corporates grants, subsidies, and tax "incentives. At least, "The Fed" is a private for-profit business.
You clearly have never seen an itemized hospital bill to get any realistic perspective on what US "healthcare" is. Hint - it's insanely greedy providers.
On top of that, most hospitals get out of paying any taxes whatsoever, because they are "non-profit". Greed, you say, from whom?
Furthermore, insurers are allowed to change coverage at random without notification, even-retroactively; and they always "negotiate" hugely lower bills than an uninsured person would pay.
Or does greed solve every problem it creates?
Of course, that would be a complete contradiction, but that never slows anybody down.
@@rabokarabekian409 Rabo your comments do not address my points.
It's all so complicated and frankly after the lockdowns I can't afford it dear people.
We hear you, Martin! If you would like help understanding your different plan options and finding the most cost-effective plan in your area, give us a call at 817-249-8600 and we would be more than happy to assist you!
Check out our free Medicare resources here:
boomerbenefits.com/medicare-resources/
she is much prettier than her competitors... but ... it is not enough
What is enough?
@@-myal-8691 While I can't say what is "enough", I can say it is nearly universally accepted that "too much is never enough". Your results may vary. Best.
Awesome channel! Have a look at our account and sub if you like the content 👏
I am currently in my SEP..have enrolled in Part A and am covered by fully subsidized COBRA (that was part of my package from my previous employer) through the end of June. I planned on enrolling for Part B during my SEP in early June so it would be effective July 1st.
Here's the question...I'm considering returning to the full-time employment for another couple of years and close to an offer. That could mean that I'd be under another group health plan starting in early June. Can I assume that I won't have to utilize the SEP at all, and not enroll in Part B because I'm going onto another employer plan?
Hi Jack - If you will be actively working for a large employer and will be covered by their insurance, you can delay enrolling in Medicare Part B. However, if there is a gap in coverage from your SEP ending and you not yet being covered by large employer insurance, there is a chance you will receive a penalty if you are not covered by creditable insurance at the time. As long as that new employer insurance will start before your 8 month window ends, then you won't have a penalty.