Tuesday June 18, 2019

What to Do About Medicare If You Are Still Working in 2019

If you do plan to work after you reach retirement age, here’s what you should know about your Medicare coverage.

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If you don’t have Medicare, your group plan isn’t obligated to pay anything toward your medical expenses.

These days, more seniors are continuing to work well past 65, the age of Medicare eligibility. With longer life expectancies and jobs that are less physically demanding today, you might even be planning to work well in your 70’s. If you do plan to work after you reach retirement age, here’s what you should know about your Medicare coverage.

Do I have to sign up for Medicare?

The answer depends on the size of your employer. There are laws in place prohibiting larger employers (those with at least 20 employees) from offering older employees different health benefits than those they offer everyone else. In other words, it’s your choice, not your employer’s, whether to continue with your employer coverage or enroll in Medicare.

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There are highly qualified healthcare professionals and they will be trained in a specific aspect of that procedure. Flickr

If you work for a small employer with fewer than 20 employees, the employer decides whether to discontinue your group health coverage once you become eligible for Medicare. If your company’s policy is to make Medicare the primary insurer for employees age 65 and over, you must enroll in both parts of Original Medicare or face several unpleasant and costly consequences.

First, even if your employer allows you to stay on the group health plan after age 65, your group plan becomes the secondary insurer. That means that it will only pay after Medicare, the primary insurer, pays its share. If you don’t have Medicare, your group plan isn’t obligated to pay anything toward your medical expenses.

medicare
These days, more seniors are continuing to work well past 65, the age of Medicare eligibility.

Second, if you don’t enroll in Medicare, and your group plan is secondary, you technically do not have health insurance for purposes of Medicare’s late enrollment penalty. In other words, when you do enroll in Medicare, you’ll pay a penalty based on the number of months you went without insurance coverage when you could have enrolled in Medicare—and you’ll pay that penalty for as long as you have coverage.

If you work for a larger employer and you have the choice between Medicare and your group plan, it’s a good idea to compare premiums, deductibles, and coverage, and determine which option makes most sense financially. Most people, however, do decide to keep their Part A as soon as they become eligible, since most people qualify for premium-free Part A.

What about Part D coverage for prescription drugs?

Although Part D is considered optional, the law requires you to have “creditable” prescription drug coverage if you choose to forgo Part D. If you don’t, and you go without prescription drug coverage for 63 or more consecutive days, you’ll pay a late enrollment penalty with your Part D premium.

Medicare
It’s your choice, not your employer’s, whether to continue with your employer coverage or enroll in Medicare.

Most employer plans have coverage that is equal to or better than Part D, which is considered “creditable” for purposes of the law. Your insurance company is required to send you a letter letting you know whether your coverage satisfies Medicare’s requirements. If it doesn’t, you should enroll in Part D as soon as you become eligible. If it does, be sure to keep proof of creditable coverage in a safe place in case you are hit with a late enrollment penalty when you do enroll.

Also Read- President Ram Nath Kovind Urges To Achieve The Perfect Balance For Public Health

What if I want a Medicare Supplement Plan?

If you do delay Medicare enrollment because you are still working after age 65, you will still have guaranteed issue rights for Medigap when your employer coverage ends.

Note that if you use COBRA to continue your employer coverage after you leave your job, it does not count as insurance coverage from active employment for the purposes of avoiding late enrollment penalties with Medicare. COBRA also doesn’t protect your guaranteed issue rights for Medigap. Your open enrollment period for Medigap begins on the date you leave your employment or the date that your employer coverage ends.

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Just Spending 2 Hours a Week in Nature can Work Wonders for Health, Well-Being

It's well known that getting outdoors in nature can be good for people's health

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Nature, Health, Well-Being
People who spend at least 120 minutes a week with nature are significantly more likely to report good health and higher psychological wellbeing than those who do not visit nature at all during an average week. Pixabay

If you are looking for that elusive secret to good health and wellbeing, your search may stop now as a new large-scale study has found that spending just two hours a week in the neighbourhood park may do wonders for your mind and body.

People who spend at least 120 minutes a week with nature are significantly more likely to report good health and higher psychological wellbeing than those who do not visit nature at all during an average week, said the study published in the journal Scientific Reports.

“It’s well known that getting outdoors in nature can be good for people’s health and wellbeing but until now we’ve not been able to say how much is enough,” said lead researcher Mat White of the University of Exeter Medical School in Britain.

“The majority of nature visits in this research took place within just two miles of home so even visiting local urban green spaces seems to be a good thing,” White said.

Nature, Health, Well-Being
If you are looking for that elusive secret to good health and wellbeing, your search may stop now as a new large-scale study has found that spending just two hours a week in the neighbourhood park may do wonders for your mind and body. Pixabay

However, no such benefits were found for people who visited natural settings such as town parks, woodlands, country parks and beaches for less than 120 minutes a week.

The study used data from nearly 20,000 people in England and found that it didn’t matter whether the 120 minutes was achieved in a single visit or over several shorter visits.

It also found that the 120 minute threshold applied to both men and women, to older and younger adults, across different occupational and ethnic groups, among those living in both rich and poor areas, and even among people with long term illnesses or disabilities.

“There are many reasons why spending time in nature may be good for health and wellbeing, including getting perspective on life circumstances, reducing stress, and enjoying quality time with friends and family,” said study co-author Terry Hartig of Uppsala University in Sweden.

Also Read- Countries Approved Projects Worth $1 Billion for Environment, Climate Change

“The current findings offer valuable support to health practitioners in making recommendations about spending time in nature to promote basic health and wellbeing,” Hartig said. (IANS)