Should I Enroll In Medicare if I am Employed?

Depending on the type of coverage you have from your employer, you may have to enroll in Medicare Part B, even if you are still working.

Here are a few important things to consider:

• Medicare Part A (Hospital) is premium-free if you or your spouse have worked 10 years or 40 quarters in your lifetime. Most people choose to enroll in Part A when they first become eligible. You may enroll in premium-free Part A anytime after you become eligible. If you must pay a premium for Part A, Social Security will determine what your payment is based on your work quarters.
• Medicare Part B (Medical) has a monthly premium of $148.50 for 2021. You do have the option to turn down Part B but you should carefully consider doing so.
• When considering delaying Part B coverage, there are two things you should confirm. First, you must ensure you will have active coverage from a current employer (or spouse’s current employer). The next thing you should know is whether your current employer coverage pays first and Medicare second or the other way around.
• If your employer coverage only pays after Medicare (usually companies with less than 20 employees), you should enroll in Medicare Part B when first eligible. If Medicare pays first and you fail to enroll, your employer coverage can reduce or refuse to pay for your healthcare expenses.

To find out how your employer coverage works, speaking to someone in the benefits department is usually the best place to begin. Once you have received the necessary information let AMAC take it from there.

Call 1-800-334-9330 and one of AMAC’s trusted, licensed Insurance Agents will be happy to assist you with your Medicare needs.