Medicare Choice Group

Navigating Medicare Resources When You’re 65+ and Employed

As working beyond the age of 65 becomes increasingly common, eligible individuals still in the workforce can enjoy the many benefits of Medicare without retiring. Understanding the options available to you (and your spouse) helps navigate the enrollment process with confidence, ensuring you receive the coverage you need while continuing employment – and well into retirement. 

Here are a few important medicare questions to help you get started: 

How Many Employees Does Your Company Have?

Those employed by an organization with 20 or fewer employees are required to enroll in Medicare once you become 65. Those in larger organizations have the option to either enroll in Medicare or the company’s coverage group. 

Knowing if your company can support you after the age of 65 is critical in preventing gaps in coverage. 

Which Plan Best Aligns With Your Needs?  

Medicare is a four-part system – A, B, C, and D – ranging from inpatient and outpatient coverage to prescription drug coverage and alternative, third-party providers. 

With multiple Medicare options available, choosing the right plan can be difficult. However, it also allows you to customize your coverage. Rather than being stuck in your employer’s one-size-fits all coverage plan, Medicare gives you the ability to build a plan based on your needs and budget. 

Choosing the right plan is a complex process – that’s why we’re here to be your go-to Medicare resource. Our one-on-one advisors identify your needs, research plan options, and break it down in an easy to understand way.   

Do You Have an Existing HSA?

Are you currently paying into a health savings account (HSA)? If yes, be mindful of when you need to stop depositing funds.   

Individuals over 65 need to stop HSA deposits six months before applying for Medicare. Individuals applying for Medicare close to the time they turn 65, however, can continue making deposits until one month prior to enrolling.

Don’t worry: you won’t love your HSA funds when switching to Medicare. 

Once enrolled in a Medicare plan, you can use your existing HSA funds to cover certain health care expenses.  

Are You Leaving Bonus Perks on the Table?

Staying covered by your employer (if eligible) may seem convenient, but make sure you are not missing out on cost-saving benefits. Some Medicare plans offer fun perks your employer’s coverage doesn’t, including: 

  • Grocery gift cards
  • Fitness memberships
  • Transportation and meal services  
  • Allowances for over-the-counter products

Why wait for retirement? Talk to us today about the Medicare resources and options available to you.

Taking advantage of Medicare’s many benefits doesn’t have to wait until you retire. For health plan advice, information on enrollment deadlines, questions to Medicare eligibility criteria, or general Medicare resources, connect with our team of Medicare advisors

Reach out to us online or give us a call at (855)-482-0574.

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