Moving from an employer plan to Medicare

Sooner or later that day of retirement will come. Now what do you do?

If you are still working, moving from an employer plan to Medicare plan needs some thought on your part. Your decision on how you retire has several options:

1) Call HR and let them know your retiring date, then call me to enroll you into a Medicare health plan.

2) Remain employed and defer enrolling in Part B and defer receiving your monthly Social Security check if you have creditable employer health care.

3) Remain employed and defer receiving your Social Security check but enrolling in Part B and enrolling in a Medicare health plan.

4) Remain working till age seventy when by law you are required to enroll into Medicare. 

Here are some transition guidelines that will help:

A) If your employer provides health insurance, you do not have to sign up for Part B until you no longer have a qualified employer health plan. If you lose your health plan or decide to retire then contact Social Security and enroll in Medicare Part B.

B) Ideally, it is best to contact me at least 2-months before you want to retire. I virtually will meet with you due to Covid-19 and discuss Medicare, Social Security, conduct a complete insurance review, and make recommendations on how to protect your retirement income.

C) At least one month before your retirement birth month, you need to go on-line to www.ssa.govand sign up for Part B. You cannot get a Supplemental or Medicare Advantage health plan without a Medicare card with Part A and Part B issue dates.

D) When you get your Medicare card, call me so we can review policy benefits, costs, co-insurance, and co-pay and start the application process.