Foregoing Medicare at 65 ... Possible (or not) ?

[CJ Tibbs]

Hi Friends

PC Girl with a Question(s);

1. If a T65 prospect elects to not take SS until 67,...does he have to pay Medicare at 65 or can he wait til 67?
2. IF he must enroll in Medicare at 65, would it paid from his bank account?

Thoughts /Comments?

Thanks for your input!

 

[axeman462]

Hi Friends

PC Girl with a Question(s);

1. If a T65 prospect elects to not take SS until 67,...does he have to pay Medicare at 65 or can he wait til 67?
2. IF he must enroll in Medicare at 65, would it paid from his bank account?

Thoughts /Comments?

Thanks for your input!

1. If a T65 prospect elects to not take SS until 67,...does he have to pay Medicare at 65 or can he wait til 67? the prospect can delay starting medicare, and not pay the Part B premium. Just be sure to advise the client on potential penalties if delaying Medicare.
2. IF he must enroll in Medicare at 65, would it paid from his bank account? the prospect does not have to start medicare at 65. if he opts to enroll in medicare, he would pay it from his bank account if not on SS

This happens all the time

 

[LostDollar]

Hi Friends

PC Girl with a Question(s);

1. If a T65 prospect elects to not take SS until 67,...does he have to pay Medicare at 65 or can he wait til 67?
2. IF he must enroll in Medicare at 65, would it paid from his bank account?

Thoughts /Comments?

Thanks for your input!

Caveat, not an agent.

Is this prospect still working?
(If a person turning 65 is still working at a large group employer (one with more than 20 employees) and they have employer health insurance, they can defer Part B enrollment until their retirement. They can then have a special enrollment period to enroll in Part B without penalties. The agents here can advise you as to how that is done.)

 

[kak6407]

If he is actively employed and covered under group coverage or has group coverage through a spouse then he can delay Medicare as long as the coverage is credibable (most large employers are). If he does not have group coverage then he needs to enroll in Medicare

 

[Fisher]

Caveat, not an agent.


(If a person turning 65 is still working at a large group employer (one with more than 20 employees) and they have employer health insurance, they can defer Part B enrollment until their retirement.

Caveat, broker.

Newsflash- A person employed at a company with <20 employees can also defer Part B with no penalty.

 

[LostDollar]

If he is actively employed and covered under group coverage or has group coverage through a spouse then he can delay Medicare as long as the coverage is credibable (most large employers are). If he does not have group coverage then he needs to enroll in Medicare

Caveat, not an agent.

I have not personally had experience with the Part B SEP in relation to a small group employer health plan. I had forgotten that that might prevent a Part B LEP because of the comment I am making below.

It is my understanding from reading here that an employee covered under a small group employer health plan should be cautious in deferring Part B because of Coordination of Benefit rules.

I believe the COB rules say that a Small Group employer plan is only required to pay secondary to Medicare. Unless a person confirms with their HR department that the health plan will pay as though it was primary when a person over 65 is not enrolled in Medicare, they will probably receive only minimal reimbursement for medical expenses.

I have personally been involved in a situation where a large health insurance carrier computed and paid claims for a person over 65 on large group coverage as though the coverage was small group. I can tell you from bitter personal experience that one of the last things an employee needs in their lives is a wrangle with an intransigent insurance carrier over proper computation of claims payments.

And, keep in mind, providers will charge you based on the insurance carrier's EOB, regardless of whether it is fair or correct. And further, the providers will start charging late charges on the unpaid bills, regardless of your assertions that the EOB's are incorrect and you are trying to get the insurance company to change them.

To further complicate things for OP, they have not yet gotten to late enrollment penalties for Medigap and PartD or MAPD coverage.

 

[annon123]

if he opts to enroll in medicare, he would pay it from his bank account if not on SS

And he pays for three months at a time. It is set up on medicare.gov. Also if he needs a record of what he was billed and paid (although he can get the paid part from his bank account) he will need to print the information from his account on medicare.gov if he doesn't hang on to the once every three month bill. Medicare.gov will not send a letter to the client with this information. As a result they need to realize they need to save/print/whatever this information.

Also the day he starts getting medicare B taken out of his SS check ALL records of past payments vanish from medicare.gov. And yet again they will not provide you with a copy. As a result they need to be warned to at least take screenshots or print this stuff the end of the month before their SS will start while they still have access. (This matters to those in HUD, who get SNAP, those who itemize, and likely to some others, but certainly not everyone)

 

[MedicareWAA]

Caveat, not an agent.

I have not personally had experience with the Part B SEP in relation to a small group employer health plan. I had forgotten that that might prevent a Part B LEP because of the comment I am making below.

It is my understanding from reading here that an employee covered under a small group employer health plan should be cautious in deferring Part B because of Coordination of Benefit rules.

I believe the COB rules say that a Small Group employer plan is only required to pay secondary to Medicare. Unless a person confirms with their HR department that the health plan will pay as though it was primary when a person over 65 is not enrolled in Medicare, they will probably receive only minimal reimbursement for medical expenses.

I have personally been involved in a situation where a large health insurance carrier computed and paid claims for a person over 65 on large group coverage as though the coverage was small group. I can tell you from bitter personal experience that one of the last things an employee needs in their lives is a wrangle with an intransigent insurance carrier over proper computation of claims payments.

And, keep in mind, providers will charge you based on the insurance carrier's EOB, regardless of whether it is fair or correct. And further, the providers will start charging late charges on the unpaid bills, regardless of your assertions that the EOB's are incorrect and you are trying to get the insurance company to change them.

To further complicate things for OP, they have not yet gotten to late enrollment penalties for Medigap and PartD or MAPD coverage.

Stop talking.

 

[LostDollar]

Stop talking.

Are there errors in what I said or asked?

KAK6407's comment is a bit general and could get OP (as an inexperienced Medicare agent) in trouble under some circumstances.

OP is a new (to medicare) agent and there may be additional considerations for their prospect's situation which op has not yet considered prior to advising the prospect.

 

[rmhaire]

Are there errors in what I said or asked?

KAK6407's comment is a bit general and could get OP (as an inexperienced Medicare agent) in trouble under some circumstances.

OP is a new (to medicare) agent and there may be additional considerations for their prospect's situation which op has not yet considered prior to advising the prospect.

Caveat, probably an agent

Post what you want, when you want and where you want.

Last time I checked, he didn't own this place.