You first become eligible to enroll in Medicare around age 65. But if you plan to keep working or you have employer health coverage through a spouse, you have some options to consider when signing up for Medicare. Here you’ll find the resources and tools you need to help learn about your Medicare enrollment choices and to make confident decisions about getting Medicare.
Do I Get Medicare Coverage Thru An Employer?
If an employer has 20 or more employees, generally you can choose to delay Medicare enrollment, drop your employer coverage for Medicare, or have both Medicare and employer coverage.
If an employer has fewer than 20 employees, generally you will need to enroll in Medicare during your Initial Enrollment Period.
If you have health coverage through a spouse’s employer, you may be able to delay or you may need to enroll at age 65. You can have both Medicare and the employer coverage. What you can do will depend on the employer’s rules.
Enrolling After 65 When Working
Even if you plan to keep working, you still have a 7-month Initial Enrollment Period (IEP) when you turn 65. If an employer has fewer than 20 employees or your spouse’s employer requires you to get Medicare to remain on their plan as a dependent, you will need to enroll during your IEP to avoid late enrollment penalties. You may also decide enrolling in Medicare is your best choice even if you can delay, and in this case, enrolling during your IEP is a good idea.
What To Consider If Enrolling After 65…
Delaying Medicare Parts A & B
If you qualify to delay both Medicare Parts A & B, you can do so without penalty as long as you enroll within eight months of either losing your (or your spouse’s) employer coverage or ceasing to work, whichever comes first. You will enroll during a Special Enrollment Period and will need to also provide written proof of creditable drug coverage to avoid Part D penalties.
Having Creditable Drug Coverage
Before you officially delay Medicare, make sure you have creditable drug coverage. This means your employer drug coverage is at least as good as the standard Medicare Part D plan coverage. If your employer’s drug coverage isn’t creditable, you will need to enroll in a Part D plan during your Initial Enrollment Period to avoid the Part D late enrollment penalty. Consequently, you’ll also need to get either Part A or Part B in order to get a Part D plan.
Enrolling In Only Part A
Medicare Part A is usually premium-free for most people, so you could opt to enroll in only Part A while still working. However, if you have a health savings account (HSA) ◳, be aware that once you enroll in any part of Medicare you cannot continue to make contributions to your HSA.
Do I Need to Notify Anyone If I’m Delaying Medicare?
You don’t need to provide notice that you’d like to delay enrolling unless you’re receiving Social Security or Railroad Retirement Board benefits. If you are receiving either, you’ll be automatically enrolled in Medicare Parts A & B when you turn 65, and you’ll need to let Social Security know you wish to delay Part B. By law though, if you receive Social Security benefits you must also have Medicare Part A.
What Happens When I Retire?
It’s best to understand what your options are once you retire. The first step is to find out if you can keep the coverage you have now when you retire, and whether or not it can be combined with Original Medicare (Parts A and B) coverage. If you have group retiree health coverage, you’ll need to contact the plan’s benefits administrator to learn about how the coverage works with Medicare and what you need to do.
Frequently Asked Questions About Working Past 65 With Medicare
Medicare & Employer Coverage
Many will wonder, “Can I sign up for Medicare and still work full time?” Yes, you can. You can actually have employer health coverage and Medicare. Depending on your circumstances, one will act as your primary coverage and one as secondary.
COBRA & Medicare
How COBRA and Medicare work together depends on which you enroll in first. If you’re eligible for COBRA first and then become Medicare eligible, you must enroll in Medicare Part B. You can hold onto your COBRA coverage if it has creditable Part D coverage.
If you’re eligible for Medicare first and then become eligible for COBRA, you can have both, and your Medicare will be primary while your COBRA picks up expenses that Medicare may not cover. You also need to enroll in Medicare Part B within 8 months of eligibility to avoid penalty.
TRICARE/ChampVA/VA Benefits With Medicare
If you have TRICARE or CHAMPVA coverage, you will need to see whether or not you are qualified for premium-free Part A. If you are eligible, you will be required to enroll in both Part A and Part B to keep TRICARE or CHAMPVA coverage. If you are not eligible, enrollment is optional, but you could face late enrollment penalties. It’s best to talk with your TRICARE and CHAMPVA benefits administrator to learn more.
VA benefits alone will not qualify you to delay Medicare without penalty, so if you have VA health coverage and are still working past 65, you will need to enroll in Medicare during your Initial Enrollment Period.
Federal Employee Benefits & Medicare
Individuals with Federal Employees Health Benefits (FEHB) can opt to delay enrolling in Medicare Part A and/or Part B if they have health insurance based on employment (or a spouse’s employment) with an employer who has 20 or more employees.
Keep in mind that benefits and pricing tend to change each year with Original Medicare, Medicare Advantage (Part C), and Medigap, so it is often worth a conversation every year or two to make sure that your healthcare needs are being met with your Medicare plan.
Contact Us To Discuss Your Medicare Options
Our team specializes in working with Medicare beneficiaries to walk them through their options and put together a plan that is best suited to their healthcare needs. Get the process started by clicking below for a no obligation quote.