I have BlueShield Medical insurance. My copay is $15. My company takes care of it. I also have hospitalization for me and my spouse..
Total Comments: 95
Posted: Sat Dec 18, 2010 04:11 pm Post Subject:
Garry . . .
Medicare Part A (inpatient hospital care) is automatic for persons who are "fully insured" (40 lifetime credits) at age 65. For those persons, there is no premium. Everyone pays a premium for Part B (physicians, surgeons, outpatient hospital expenses), and a person may choose to reject Part B.
There may be a premium penalty of 10% for every 12 month period a person does not have Medicare Part B beginning at age 65, HOWEVER . . . if you are covered by another employer-sponsored plan (while working or in retirement), you would have an 8-month "Sepcial Enrollment Period" to enroll in Medicare Part B without a penalty, beginning with the month in which you were no longer covered by that plan.
It is unlikely that your local government-sponsored retirement plan would terminate (although anything is possible), so at this point, you may safely reject Part B. Part A coverage is secondary to any other insurance you have.
As far as Medicare Part D, the Prescription Drug Plan, if you have existing coverage under your employer-sponsored plan, you do not need to enroll in a Part D PDP. If your plan terminates its drug benefit, you would then be eligible to enroll in a Part D PDP and not have to pay the 1% PER MONTH premium penalty for not being enrolled, as long as your former plan counts as "creditable coverage" (which it most likely does).
So the only way you would be penalized when it comes to Medicare premiums, is if your retirement plan benefit terminates and you fail to enroll within the 8-month window explained above. Be aware that an extension of benefits of an employer-sponsored plan under COBRA DOES NOT similarly extend the 8-month SEP window.
Hope this helps!
Posted: Wed Dec 29, 2010 01:59 am Post Subject: employer coverage or medicare
Do I need to sign up for Medicare if still working and covered under spouse's insurance plan. Will be 66 next year and plan to continue working.
Posted: Wed Dec 29, 2010 03:53 pm Post Subject:
Do I need to sign up for Medicare if still working and covered under spouse's insurance plan
At age 65, you will "automatically" be enrolled in Medicare Part A (at no cost to you if "fully insured" under Social Security). Medicare Part B is optional, and may be rejected if still covered by a group insurance plan of your or your spouse's employer. You will have that opportunity to reject Part B as early as three months prior to the month in which you turn age 65, and you can reject it as late as three months after age 65 (but you will not receive a refund of the $331.20 you will pay in Part B premiums in those three months in 2011). This is your "Initial Eligibility Period" and you only get it once.
At any time in the future, if you are no longer enrolled in an employer-sponsored health insurance plan, you will have eight months (a "Special Enrollment Period") to enroll in Part B. Continuation of a group plan under COBRA does not extend the eight month SEP.
If you miss the SEP, then you have to wait for the next "General Enrollment Period" which happens every year from January 1 to March 31. But that will cause you to have to pay a premium penalty for Part B for the rest of your lifetime. The penalty is 10% for every 12 months you were not enrolled in Part B when you should have been.
If your wife's health plan does not have a prescription drug benefit, you will also need to enroll in a Part D prescription drug plan (PDP), or you will enjoy a 1% per month lifetime premium penalty for every month you did not have "creditable" coverage prior to enrolling in a Part D PDP.
You can find out more about all of this at www.medicare.gov -- the official US Government website for Medicare. Other information you may find useful prior to turning age 65 can be found at www.socialsecurity.gov
You can delay the start of your Social Security retirement benefit to as late as age 70 and it will be increased by up to 32% over your full retirement benefit at age 66. Taking your Social Security retirement benefit at age 65 will result in a permanent reduction of about 4-5% of your monthly benefit payable at age 66. The difference between taking an early retirement benefit at age 62 and a delayed benefit at age 70 can be nearly 50%!!
Posted: Tue Jan 04, 2011 07:23 am Post Subject:
yeah that's right Johnny is not qualified for he is young and don't meet requirements for medicare... not eligible indeed for his very young age.
Posted: Wed Jan 05, 2011 06:48 pm Post Subject:
Spammer!
Posted: Tue Jan 25, 2011 12:30 pm Post Subject: medicare benefits
i am 65 and my husband is 59 and working and carrying bc bs epo for both of us.Is it mandatory i carry part b(i have part a)which is automatic).i cannot afford part b and his covers all of my rx's and dr's visits etc.please let me know
Posted: Wed Jan 26, 2011 06:14 am Post Subject:
As long as you are covered under a spouse's group plan (other than during COBRA continuation), you are not required to enroll in Medicare Part B. If your coverage under that plan terminates (or is continued under COBRA), you will have 8 months from the terminating event to enroll in Part B to avoid the 10% per year premium penalty for late enrollment in Part B.
Posted: Mon Feb 07, 2011 07:30 pm Post Subject:
Posted: Sun Apr 03, 2011 12:09 pm Post Subject: medicare coverage
i recently started receiving disability but not eligible for medicare until 24 months from date of disabilty. can i choose not to take medicare since my husband carries me on his insurance at his job?
Posted: Wed Apr 06, 2011 04:03 pm Post Subject:
i recently started receiving disability but not eligible for medicare until 24 months from date of disabilty
If you are receiving Social Security Disability payments, your statement is wrong. You must be collecting SSDI payments for 24 consecutive months in order to qualify for Medicare prior to age 65. That could be VERY different from "24 months from the date of disability."
Medicare Part A under that scenario is premium-free, and automatic, whether you want it or not. Everyone pays a premium for Medicare Part B. If you have coverage under an employer-sponsored group health plan, then Medicare will be secondary to that plan. You can reject Medicare Part B if covered by a group health plan, but if the plan is "self-funded" under ERISA, you could be forced to enroll in Part B if the plan requires it.
Posted: Sat Dec 18, 2010 04:11 pm Post Subject:
Garry . . .
Medicare Part A (inpatient hospital care) is automatic for persons who are "fully insured" (40 lifetime credits) at age 65. For those persons, there is no premium. Everyone pays a premium for Part B (physicians, surgeons, outpatient hospital expenses), and a person may choose to reject Part B.
There may be a premium penalty of 10% for every 12 month period a person does not have Medicare Part B beginning at age 65, HOWEVER . . . if you are covered by another employer-sponsored plan (while working or in retirement), you would have an 8-month "Sepcial Enrollment Period" to enroll in Medicare Part B without a penalty, beginning with the month in which you were no longer covered by that plan.
It is unlikely that your local government-sponsored retirement plan would terminate (although anything is possible), so at this point, you may safely reject Part B. Part A coverage is secondary to any other insurance you have.
As far as Medicare Part D, the Prescription Drug Plan, if you have existing coverage under your employer-sponsored plan, you do not need to enroll in a Part D PDP. If your plan terminates its drug benefit, you would then be eligible to enroll in a Part D PDP and not have to pay the 1% PER MONTH premium penalty for not being enrolled, as long as your former plan counts as "creditable coverage" (which it most likely does).
So the only way you would be penalized when it comes to Medicare premiums, is if your retirement plan benefit terminates and you fail to enroll within the 8-month window explained above. Be aware that an extension of benefits of an employer-sponsored plan under COBRA DOES NOT similarly extend the 8-month SEP window.
Hope this helps!
Posted: Wed Dec 29, 2010 01:59 am Post Subject: employer coverage or medicare
Do I need to sign up for Medicare if still working and covered under spouse's insurance plan. Will be 66 next year and plan to continue working.
Posted: Wed Dec 29, 2010 03:53 pm Post Subject:
Do I need to sign up for Medicare if still working and covered under spouse's insurance plan
At age 65, you will "automatically" be enrolled in Medicare Part A (at no cost to you if "fully insured" under Social Security). Medicare Part B is optional, and may be rejected if still covered by a group insurance plan of your or your spouse's employer. You will have that opportunity to reject Part B as early as three months prior to the month in which you turn age 65, and you can reject it as late as three months after age 65 (but you will not receive a refund of the $331.20 you will pay in Part B premiums in those three months in 2011). This is your "Initial Eligibility Period" and you only get it once.
At any time in the future, if you are no longer enrolled in an employer-sponsored health insurance plan, you will have eight months (a "Special Enrollment Period") to enroll in Part B. Continuation of a group plan under COBRA does not extend the eight month SEP.
If you miss the SEP, then you have to wait for the next "General Enrollment Period" which happens every year from January 1 to March 31. But that will cause you to have to pay a premium penalty for Part B for the rest of your lifetime. The penalty is 10% for every 12 months you were not enrolled in Part B when you should have been.
If your wife's health plan does not have a prescription drug benefit, you will also need to enroll in a Part D prescription drug plan (PDP), or you will enjoy a 1% per month lifetime premium penalty for every month you did not have "creditable" coverage prior to enrolling in a Part D PDP.
You can find out more about all of this at www.medicare.gov -- the official US Government website for Medicare. Other information you may find useful prior to turning age 65 can be found at www.socialsecurity.gov
You can delay the start of your Social Security retirement benefit to as late as age 70 and it will be increased by up to 32% over your full retirement benefit at age 66. Taking your Social Security retirement benefit at age 65 will result in a permanent reduction of about 4-5% of your monthly benefit payable at age 66. The difference between taking an early retirement benefit at age 62 and a delayed benefit at age 70 can be nearly 50%!!
Posted: Tue Jan 04, 2011 07:23 am Post Subject:
yeah that's right Johnny is not qualified for he is young and don't meet requirements for medicare... not eligible indeed for his very young age.
Posted: Wed Jan 05, 2011 06:48 pm Post Subject:
Spammer!
Posted: Tue Jan 25, 2011 12:30 pm Post Subject: medicare benefits
i am 65 and my husband is 59 and working and carrying bc bs epo for both of us.Is it mandatory i carry part b(i have part a)which is automatic).i cannot afford part b and his covers all of my rx's and dr's visits etc.please let me know
Posted: Wed Jan 26, 2011 06:14 am Post Subject:
As long as you are covered under a spouse's group plan (other than during COBRA continuation), you are not required to enroll in Medicare Part B. If your coverage under that plan terminates (or is continued under COBRA), you will have 8 months from the terminating event to enroll in Part B to avoid the 10% per year premium penalty for late enrollment in Part B.
Posted: Mon Feb 07, 2011 07:30 pm Post Subject:
Posted: Sun Apr 03, 2011 12:09 pm Post Subject: medicare coverage
i recently started receiving disability but not eligible for medicare until 24 months from date of disabilty. can i choose not to take medicare since my husband carries me on his insurance at his job?
Posted: Wed Apr 06, 2011 04:03 pm Post Subject:
i recently started receiving disability but not eligible for medicare until 24 months from date of disabilty
If you are receiving Social Security Disability payments, your statement is wrong. You must be collecting SSDI payments for 24 consecutive months in order to qualify for Medicare prior to age 65. That could be VERY different from "24 months from the date of disability."
Medicare Part A under that scenario is premium-free, and automatic, whether you want it or not. Everyone pays a premium for Medicare Part B. If you have coverage under an employer-sponsored group health plan, then Medicare will be secondary to that plan. You can reject Medicare Part B if covered by a group health plan, but if the plan is "self-funded" under ERISA, you could be forced to enroll in Part B if the plan requires it.
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