Medicare Enrollment Question
Hi Terry,
I have a question regarding Medicare, I turn 65 in Oct. and was hoping to be able to stay on our company insurance plan, especially since my wife is 4yrs younger & also on our company insurance. Yesterday I was told by the agent that handles the company insurance that since we have over 20 total employees (not just employees the Aetna plan) that I can stay on the company plan as long as I’m working, they’ll just estimate what Medicare would have covered when processing their claims. My question is, do I then just sign up for part A of Medicare? and not part B & D until I decide to retire. Thank you,
Terry Says
Well, that’s good news. Definitely stay on the company plan. It will save you a lot of money because it covers your spouse as well.
And I’m glad you asked about signing up for Part A.
Do you have a Health Savings Account as part of your company plan? If so, do NOT sign up for Part A, because that means you can no longer contribute to your FSA. In fact, there is no reason to sign up for Part A until you fully sign up for Medicare, since your company plan does not require it.
I was a bit disturbed by the agent’s comment that they will “estimate what Medicare would have paid.” Double check and get it in writing from the agent that your coverage is not in any way reduced if you are over 65 and still on the company plan. And that you do not have any additional exposure. It should be that way.
