Moving from an employer plan to Medicare

You'r employed and thinking about retireing

You have worked hard your whole life, paid for unexpected expenses, paid for your kids college and now it's you time to retire but you still need to work.


Sooner or later that day of retirement will come. Now what do you do? Moving from an employer plan to Medicare plan needs some thought on your part.


Here are some guidelines that will help:


1) If you do not have an employer health plan, then you need to sign up for Part B when you become eligible. You have the option to start receiving a monthly check at age 65 or you could delay getting a check till age 70. 


2) When you sign up for Part B and delay receiving a check, your money will grow due to interest and any money you put into your account while working.  Weather you have an employer health plan or not, the longer you wait the higher your monthly check will be.


If your employer provides health insurance, you do not have to sign up for Part B until you no longer have the employer health plan.


4) One month before retirement you need to go to www.ssa.gov and sign up for Part B. You cannot get a Supplemental or Medicare health plan without a Medicare card with Part A and Part B issue dates.


5) When you get your Medicare card, I will meet and go over plans. The Medicare health policy always starts on the first of the month, so we need to coordinate when your group plans ends and when your Medicare policy becomes active.


Ideally, you should contact me at least one-year before you want to retire. I will meet with you and discuss what option you have and provide a plan of action.