Finding important information on the vital question of can I have employer-provided health insurance and medicare?
The Kaiser Family Foundation recently found that big companies providing retiree health coverage decreased over the last dozen years, by nearly half. This trend is likely to continue. Plus, it’s often true that employees are confused about the coordination of Medicare and their employer covered health care. So, when turning 65, it’s important to consider health insurance and medical coverage needs, like retiree status, dependents, etc.
By law, employees over 65 can’t be excluded from their employer’s group plan per the federal Age Discrimination in Employment Act (ADEA). Additionally, Medicare secondary payer rules forbid employers from stopping health coverage to non-retired and current employees, due to age-related Medicare eligibility, except in circumstances where the employer has less than 20 employers. Therefore, benefits must be on a par with other employees, although not in the case of retirees.
When an employer has over 20 employees, usually the group coverage is primary, and Medicare is secondary. The reverse is normally true when the employer is smaller, with less than 20 workers. However, it’s always good to enroll in free Medicare Part A, hospital coverage, if under traditional Medicare. Then, employees may opt out of Medicare Part B, medical services. When scrutinizing health care coverage decisions, it’s smart to have in writing all details regarding employer and Medicare coverage. For Medicare, the information is online and in federal centers for Medicare and Medicaid Services. Also on the market are various Medicare Advantage and Medigap plans, and AARP has details online. Finally, understand facts and options, before making significant health coverage decisions.