Many people are choosing to continue to work beyond the year that they turn 65. Longevity, and access to better medical care, both lend themselves to a better quality of life. This means that many people are continuing medical insurance coverage beyond the time that they qualify for Medicare. With this in mind, one of the questions that is being asked is; “Can My Employer’s Insurance Cover the gaps in my medicare?” This is a very valid question that we will attempt to answer.
If you are still working, or covered under your employer’s insurance through your retirement or union benefits, and work for a company that has more than twenty employees, than the employer’s insurance is your primary insurance. This means that this is the first insurance that will be billed, and the co-pays and co-insurances of that plan will remain in play. In this case it may not be to your advantage to sign up for Part B. You would still incur the premium for Part B and it would have very limited coverage in most cases. If you work for a company with less than twenty employees, then Medicare would be your primary insurance and your employer sponsored plan would be your secondary. If this is the case, then you would need to speak with your benefits representatives to see what would be in your best interest.
With the above scenario in mind, you will have to decide whether you will sign up for Part B when you are initially eligible to do so. If you continue to work or have some other type of coverage, it may be in your best interest to wait until that coverage is no longer available. At that time due to the change in coverage, you would be eligible to sign up for Part B with no increase in premium.
Through coordination of benefits, both Medicare and your Employer’s Insurance will be billed for the medical services that you need. Depending upon your primary insurance there should not be much gap left to cover. It is usually not necessary to enroll in a Medigap policy if you have other types of insurance.