Is Medicare an O65 Clients Only Option

[Rahmad]

What options would an O65 business owner have besides Medicare? Doesn't offer group coverage and didn't pay into medicare.

 

[AllenChicago]

Your over-65 prospect can get an Individual health plan at www.HealthCare.gov . I ran a quote for someone over-65 last week. My prospect wasn't SEP eligible, and will have to wait until November 1st open enrollment however. But if your business-owner prospect is SEP Eligible, go to hc.gov and see what you can do for him/her. Good luck.

 

[sam816]

If you want to apply for subsidy, you will need to show you are not eligible for Medicare or Medicaid.

 

[kgmom219]

Or start offering group coverage?

 

[healther]

If you want to apply for subsidy, you will need to show you are not eligible for Medicare or Medicaid.

This is the part that confuses me for O65. They can purchase Part A for ~$400 per month, does that count as eligible? Sounds like it does to me.

 

[Yagents]

This is the part that confuses me for O65. They can purchase Part A for ~$400 per month, does that count as eligible? Sounds like it does to me.

I think your answer is on page 5 of attached document from 8/14'

 

[kgmom219]

Read this too: https://www.healthcare.gov/medicare/changing-from-marketplace-to-medicare/

If you have a Marketplace plan, you can keep it until your Medicare coverage starts. Then, you can cancel the Marketplace plan without penalty.

If you like, you can keep your Marketplace plan too. But if you've been getting premium tax credits or other savings on a plan you bought through the Marketplace, these savings will end once your Medicare Part A coverage starts. So you'd have to pay full price for the Marketplace plan.

 

[DS4]

...O65 business owner.... Doesn't offer group coverage and didn't pay into medicare.

Please explain how a business owner didn't pay into Medicare? All unreported cash?

 

[Bob_The_Insurance_Guy]

Please explain how a business owner didn't pay into Medicare? All unreported cash?

While I don't know the specifics of this case, there are business owners who are not US Citizens, and therefore, have never paid Medicare taxes. How they handle their payroll, expenses, etc., that's beyond my purview of expertise.

I wrote a Cigna Global Plan for a business owner, who was not a US Citizen, and he resides here in Atlanta, Ga.

 

[Norwayguy]

Please explain how a business owner didn't pay into Medicare? All unreported cash?

I have teacher clients who never paid into medicare.