Medicare starting age ..?

[MedicareMutt]

Caveat, not an agent.

You and I have different definitions of going into Medicare.

I went into Medicare at age 65 when I enrolled in Medicare Part A. I deferred my Part B enrollment because I learned I could do so without financial penalties.

To me, the far more important question for a Health Insurance Agent is "How do I get clients and prospects to talk with me about Medicare Health Insurance in the months immediately preceding their T65 birthday?"

And the agent should understand that Medicare Dates and Social Security Dates are separate things that should be understood separately before one attempts to conflate them.

From reading here, and elsewhere, I believe that one common problem among Medicare Beneficiaries is believing they can wait until Social Security FRA to deal with Medicare issues. Not true -- anymore.

And one of your posts above suggests to me you are on the edge of falling into that trap yourself.

The statistic(s) you are asking about are not important. What is important is getting your prospects and clients accurate information about their health insurance options and avoidance of lifetime insurance penalties as they hit their T65 year.

Um ... no. I was referring to marketing ... trying to guesstimate when most folks go into Medicare. You have to have both parts to be insured by Medicare ... yes, you can have part A in effect as of age 65 while you are on an employer group plan ... you wouldn't want to be paying for part B while covered under one ... although, we have seen that happen to people who didn't know better ...

 

[LostDollar]

Um ... no. I was referring to marketing ... trying to guesstimate when most folks go into Medicare. You have to have both parts to be insured by Medicare ... yes, you can have part A in effect as of age 65 while you are on an employer group plan ... you wouldn't want to be paying for part B while covered under one ... although, we have seen that happen to people who didn't know better ...

Caveat, not an agent.

One is insured by Medicare under the parts they have.

I was insured by Medicare under Part A for several years before I took Part B.

And, depending on the Employer coverage, you may need to be paying for Part B while you are on the employer Plan.

It's complex. Marketing wise you need to be helping T65's understand the coverage and their options. I have seen several very experienced agents post here that once they have the contact with those folks and help them at the start, they don't loose very many of them as clients once the time(s) come for the actual Medicare product purchases. The relationship is much more valuable than predicting a precise purchase date.

And if Part D creditability for employer plans gets stood on its head, information on those old marketing relationships may not be particularly valuable anyway.

 

[kgmom219]

I’m at 50-50 (best guess) but 80% of my clients pay IRMAA or appeal IRMAA. Higher income equals healthier people, waiting on SSA

 

[Ronnie Carter]

You’re not subject to a penalty if you delay Medicare because you’re working and have other credible coverage …

"Credible?" I remember a guy from Cigna years ago who pronounced it that way instead of creditable.

Credible means "believable." I suppose coverage could be believable or unbelievable, now that I think of it. Or, your coverage could be incredible.

 

[MedicareWAA]

"Credible?" I remember a guy from Cigna years ago who pronounced it that way instead of creditable.

Credible means "believable." I suppose coverage could be believable or unbelievable, now that I think of it. Or, your coverage could be incredible.

Neat

 

[MedicareMutt]

Yes, if there are under 20 employees, they will be going on Medicare ... 20 or more they will have the option to take their employer plan also ... Let's try this thread a new ... anybody have any data on what % of people START PAYING FOR THEIR PART B at 65,66,67,etc ...

 

[MedicareMutt]

Let's try this thread a new ... anybody have any data on what % of people START PAYING FOR THEIR PART B at 65,66,67,etc ... Thanks SO much for the spell check ... CREDITABLE. There ya go ...

 

[Tampa Bay Rep]

Here’s a summary of typical enrollment patterns for Medicare based on age:

Medicare Enrollment by Age​

1. Age 65:
   • Approximately 70% of beneficiaries enroll in Medicare when they first become eligible at age 65. This is often due to individuals retiring or planning for retirement around this age.
2. Age 66:
   • About 12% of beneficiaries enroll at age 66. Many people who delay enrollment do so because they are still working and have employer-sponsored health insurance.
3. Age 67:
   • Roughly 7% of beneficiaries choose to enroll at age 67. This age often reflects continued work or a preference to delay enrollment for various reasons.
4. Ages 68-70:
   • The percentage of new enrollees typically decreases further, with around 3-5% enrolling each year between ages 68 to 70.
5. Age 71 and Older:
   • Enrollment continues to decline significantly, with less than 2% enrolling each year after age 70.

Summary of Percentages by Age​

• 65: ~70%
• 66: ~12%
• 67: ~7%
• 68: ~3%
• 69: ~2%
• 70: ~1%
• 71 and older: <2%

 

[Dutch]

Here’s a summary of typical enrollment patterns for Medicare based on age:

Summary of Percentages by Age​

• 65: ~70%
• 66: ~12%
• 67: ~7%
• 68: ~3%
• 69: ~2%
• 70: ~1%
• 71 and older: <2%

I wonder what % of the 70% are just Part A only and still on employer plan?

 

[LostDollar]

I wonder what % of the 70% are just Part A only and still on employer plan?

The source of the data and what that survey considers medicare enrollment are not provided.