Insurance Options for People Still Working at Age 65

One question that I always get from people who are turning 65 soon, but are still working, is “Should I enroll in Medicare Part B if I am 65 or older, still working (or spouse is still working) and have insurance from that job?

If you are age 65 and older and there are fewer than 20 employees in the company you or your spouse works for, Medicare is your primary coverage. If you have not yet enrolled, you should enroll during your initial enrollment period.Your Employer can choose whether you will still be able to be on your group plan, and if you decline Part B, neither Medicare nor your job coverage (with limited exceptions) will pay for your doctors’ services and other medical care.

If you are age 65 and older and there are more than 20 or more employees in the company you or your spouse works for:

Your employer group health plan is your primary insurer. You do not need to enroll in Medicare Part B if you are satisfied with your coverage. However, you should have an analysis done to see if you may have an opportunity to save money and still get the medical care and prescriptions you want or need.You qualify for a Special Enrollment Period, which means you can delay enrollment in Part B without penalty, if you were covered by employer health insurance through your or your spouse’s current job when you first became eligible for Medicare. You can enroll in Medicare without penalty at any time while you have group health coverage and for eight months after you lose your group health coverage or you (or your spouse) stop working, whichever comes first.