Ask Terry Questions Medicare/Social Security

Medicare/Social Security

By Terry Savage on July 05, 2024 | Insurance & Annuities

My wife just turned 65 but is still working full-time. She has medical insurance through her work. Does she have to sign up for Medicare to avoid a “penalty”? I called Medicare but I don’t understand their answer. I think they said that she does not have to do anything.

Terry Says

She can sign up for Medicare Part A, which costs nothing. BUT if she is contributing to a Health Savings Account at work (HSA), she shouldn’t do that — since you cannot continue contributing if you are covered in any way by Medicare.

She can delay taking Medicare Part B and Part D (drugs) and finding a supplement until she retires and is no longer covered at work.  However, she should double check with her company HR department — because some smaller company plans require Medicare as a primary insurer, once you reach age 65 and are eligible.   Ask her company to be sure.



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