MC and FT employment (HSA, plan, hospital, supplement)

[saralvr]

I am asking this for my brother. I am on MC with a Part B and D supplement plan.

My brother turns 65 next month. He is working FT for a large international company and has Aetna as his primary insurance and an HSA as well. He was told since he’s working and there’s more than 20 employees that his Aetna stays primary.

Here are my questions:

1. Does he have to apply for MC Part A hospital or is it automatic? And doesn’t that become his primary for hospital if he ever needed hospitalization?

2. Should he apply for Part B and pay for it and then his copays and out of pockets/deductibles would be covered?

3. I read that you get penalized if you don’t apply within 3 months of your 65th birthday. True? Even if you’re working FT?

Did I miss anything?

Thank you

[GWoodle]

Your brother should go down to HR to see how his health plan works. Also needs to find out what the retirement plan is. There may be a retiree health plan. He may continue to work to 67 & Full Retirement Age.

Sometimes the company decides what health plan you get. They may choose to buy an Advantage plan once they retire. This should cover items in Part A, B, & D.

As long as the health plan has creditable coverage, he may need to do nothing now. HR will know for sure.

Best thing to do for your brother is to do retirement planning. This includes income as well as health care & other expenses.

Medicare is not automatic. For Part A depends if he has 10 year work credits for it to be free. If he doesn't have 10 years would pay a premium. For Part B depends on income 2 years ago to pay premium. Depends on the health plan if copays, deductibles, out of pockets are covered. For Part D depends on what prescriptions he has. could be good learning to see difference between current plan & Medicare.

The window to apply is 7 months total. 3 months before BD, then BD, then 3 months after. With creditable coverage this can be delayed until he retires. Then he would apply for SS & MC at the same time. SS would pay MC premiums.

[reed303]

Some reading at this Medicare webpage may help understand choices if working past 65

There is also info on when to stop HSA contributions, and when to start a drug Plan D

Be sure to read thw whole page for other important info

https://www.medicare.gov/basics/get-...orking-past-65

[saralvr]

Thank you both very much.
I am passing this information onto him and especially appreciate the link.

[teeej]

Typically health insurance plans will give people HRAs instead of HSAs after they are on Medicare.

[Williepaws]

Originally Posted by saralvr

I am asking this for my brother. I am on MC with a Part B and D supplement plan.

My brother turns 65 next month. He is working FT for a large international company and has Aetna as his primary insurance and an HSA as well. He was told since he’s working and there’s more than 20 employees that his Aetna stays primary.

Here are my questions:

1. Does he have to apply for MC Part A hospital or is it automatic? And doesn’t that become his primary for hospital if he ever needed hospitalization?

2. Should he apply for Part B and pay for it and then his copays and out of pockets/deductibles would be covered?

3. I read that you get penalized if you don’t apply within 3 months of your 65th birthday. True? Even if you’re working FT?

Did I miss anything?

Thank you

just our personal experience, we worked for a lg international corp with excellent health ins. Didnt apply for medicare until 70. If we had applied for medicare when we turned 65, medicare would not have been primary. The corp health ins would srill have been primary. I was told that was because of the state we lived in. We saw no reason to apply for medicare until we retired at 70.

[smt1111]

I kept my employer health insurance until I turned 66. I have a contract position and wasn't sure when I would retire, so I felt it was best to switch to Medicare in January after I was 66, instead of electing the employer coverage for the year. I was afraid that if I suddenly lost my job, I would not be able to scramble quickly to get on Medicare, and COBRA is no longer an option after you turn 65. I would be careful if the job is not secure, as he cannot roll into COBRA, and it does take time to get on Medicare. This is the reason I applied for Medicare A when I turned 66. At least I was in the system. Then I dropped employer coverage as of January and switched to Medicare B plus supplemental.

I am finding out that Medicare is actually better coverage than my employer insurance in some ways.