Elder Care Lawyer Christopher Berry Discusses Employed Medicare Enrollment Options
Bloomfield Hills, MI (Law Firm Newswire) September 5, 2013 – Though many individuals continue to work well past the age of 65, not many know if they should enroll in Medicare while still employed.
When their employer offers health care, with full or partial coverage, they are unsure if Medicare is even available, much less a prudent choice.
“It is currently considered a smart move for most workers to enroll in Medicare Part A,” said Michigan elder law attorney Christopher J. Berry. “Part A is free coverage for many people and it covers care in skilled nursing facilities and hospitals, and covers some care from home health agencies and hospices.” Before enrolling, says Berry, they should check with their employer or their spouse’s employer, if that is how they are currently covered, to see if the current coverage will be affected by Medicare enrollment. For some plans, even enrolling in Part A can change standard health care coverage.
Medicare Part B is in place to cover preventative care such as office visits and tests and outpatient care. There is a monthly premium for Medicare Part B; the amount changes every year. Individuals should be aware that if they do not sign up for Medicare Part B, as soon as they become eligible, they will likely have to pay a penalty of 10 percent of the premium for each of the years they delayed their enrollment. But employees currently employed and insured via an employee group health plan are allowed to delay enrolling in Part B without any penalty.
Those individuals are given a special enrollment period of up to eight months before they must sign up after retiring. Deciding to enroll in Medicare Part B should also depend on the number of employees in the health care program; if there are more than 20 employees, the employer’s group health plan is the primary insurer. However, if the employer has fewer than 20 employees, it is typically prudent to enroll in Medicare as soon as the date of eligibility occurs, as Medicare is the primary insurer.
“For those choosing to not enroll in Medicare part B, Medicare Part D may still be a worthwhile plan,” says Berry. “Part D covers prescription drugs. For those who already have prescription drug coverage through their employer’s health care plan, it is necessary to receive a letter from the insurance plan stating whether or not that company’s coverage is equal to or better than what Medicare can offer (known as ‘creditable’). If the current plan is ‘creditable,’ there will be no late-enrollment penalty for switching to Medicare Part D at a later date.”
The Elder Care Firm of Christopher J. Berry
2550 S Telegraph Rd.
Bloomfield Hills, MI 48302
Toll free: 855-41-Elder (855-413-5337)
- Choosing the RIGHT Beneficiary: How to Responsibly Leave Your Retirement Plan to the Loved Ones that Matter Most to You
Many people assume that just because they have hit retirement age, they can simply take it easy and let the due process of law determine for them which of their loved ones can benefit from their retirement plans. However, as is always the case, it can be very easy to lose sight of certain things […]
- Massive Changes to Medicaid Planning in Michigan For Married Couples using Sole Benefit Trusts
Today, the Department of Human Services made huge sweeping, unforeseen changes to Medicaid planning for Michigan married couples with their change in analysis of the Sole Benefit Trust and how it fits into the asset calculation. According to a communication from Terrence M. Beurer, Director, Field Operations Administration, all SBO Trust assets are deemed countable […]
- Philip Seymour Hoffman Leaves his Children Zilch…$35Million to his Partner
Phillip Seymour Hoffman died at the young age of 46, with three children, all under the age of 11. With his estimated $35 million fortune in his estate, he made the bold decision to disinherit his children, leaving the bulk of his $35 million to his partner, Mimi O’Donnell, according to an article on Today.com. […]
- Is your Michigan Caregiver for Your Senior a Felon?
According to a disturbing article in the Daily Reporter, convicted felons are being paid to take care of our Michigan seniors, according to a staffer at the Area Agency on Aging. Melissa Franklin of the Area Agency on Aging states, “We have multiple care providers now who are on the sex offender registry. There is […]