Medicare While Working Past 65

You don’t have to sign up for Medicare as soon as you turn 65 — especially if you’re still working and have health insurance. In some cases, waiting to enroll could be the better choice, but it's essential to explore your Medicare Advantage plan options to ensure comprehensive coverage.

Can you Delay Medicare?

Yes, you can delay Medicare if:

• You (or your spouse) have health insurance through a job with 20 or more employees
• You want to keep putting money into a Health Savings Account (HSA)

But be careful — if you lose your job-based insurance and don’t sign up for Medicare on time, you could face penalties that never go away.

Most people should sign up for Medicare Part A and Part B during their first chance (called the Initial Enrollment Period), but some may choose to wait. Consider exploring what Medicare Part C (Medicare Advantage) offers as an alternative.

Additionally, understanding what Medicare Part D covers regarding prescription drugs is crucial for your overall plan.

Considerations

• Talk to your employer or insurance provider to understand how your current plan works with Medicare.
• If you delay Medicare, you must sign up within 8 months of losing your job-based coverage to avoid penalties.
• If you have both Medicare and job-based insurance, your work insurance pays first, and Medicare pays second.
• If your company has fewer than 20 employees, Medicare might pay first. Ask your HR department to explain how your coverage works.
• Some small companies require you to sign up for Medicare once you turn 65 to keep your work insurance.

If you don’t have job-based insurance when you turn 65, you need to enroll in Medicare during your 7-month Initial Enrollment Period, or you’ll have to pay a higher monthly cost later.

What If You Want to Skip Medicare Part A?

You can choose not to enroll in Medicare Part A, but if you do that, you’ll have to:

• Give up your Social Security benefits
• Pay back any Social Security money you’ve already received

KelseyCare Advantage is Here for You

Turning 65 and figuring out Medicare can feel confusing, but you don’t have to do it alone. KelseyCare Advantage is here to help you understand your options. Call one of our licensed local agents today at 713-442-5646.