Co-Founder, TermInsuranceBrokers.com, Goldenzweig Financial Group, Las Vegas, Nevada
No. You can continue to receive Medicare healthcare benefits whether you go back to work or remain a retired individual.
You have the option of securing group coverage again and can continue your Medicare benefits as well. Generally, in this scenario, the group health insurance pays first and Medicare pays second.
Business Development Officer, T.D. McNeil Insurance Services, Fresno, California
Medicare is available and is almost mandatory for everyone over age 65. Your employer will normally have included that consideration when the company adopted a health insurance program. You will probably be required to enroll in Medicare part A. There isn't a cost for most participants.
If you are receiving medical benefits from your employer you may be allowed to defer the purchase of Medicare part B. You can usually defer that until you end your employment and lose medical benefits. It is important that you contact Medicare when you are leaving employment so that the switch to Medicare B is seamless and your coverage is at the standard price. There is a penalty if you enroll late
Medicare Insurance, Colorado Medicare Choices, Colorado Springs, Colorado
If you have already started Medicare and you have decided to return to work and you want to get coverage with your employers’ group health plan then yes contact Social Security to have them about drop your Part B and let them know you will be notifying your Part D Insurance Company to cancel your coverage with them as well.
Medicare usually will resend you a new Medicare Card with your Part A active date showing. Make sure you check to see if Social Security stops taking out your Part B premium.
If you are not going to start Employers Insurance then you need do nothing and your current Medicare insurance and Drug Plan will remain in effect. You will not need to notify anyone if you are remaining with your current Medicare insurance.
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You have the option of securing group coverage again and can continue your Medicare benefits as well. Generally, in this scenario, the group health insurance pays first and Medicare pays second.
If you are receiving medical benefits from your employer you may be allowed to defer the purchase of Medicare part B. You can usually defer that until you end your employment and lose medical benefits. It is important that you contact Medicare when you are leaving employment so that the switch to Medicare B is seamless and your coverage is at the standard price. There is a penalty if you enroll late
Medicare usually will resend you a new Medicare Card with your Part A active date showing. Make sure you check to see if Social Security stops taking out your Part B premium.
If you are not going to start Employers Insurance then you need do nothing and your current Medicare insurance and Drug Plan will remain in effect. You will not need to notify anyone if you are remaining with your current Medicare insurance.