Working Past 65?

Working Past 65? Here’s What to Do

If you’re still working at 65 and have health insurance through your or your spouse’s current employer, you may be able to delay Medicare Part B without penalty. Medicare recommends checking with the employer or benefits administrator before making that decision because how your employer coverage coordinates with Medicare matters.

There are generally two paths:

1. Keep your employer coverage and delay Part B

If your employer coverage is based on current employment and the employer has 20 or more employees, the employer plan generally pays first and Medicare pays second. In that situation, many people delay Part B until they retire or lose the employer coverage.

When that employment or coverage ends, you generally have an 8-month Special Enrollment Period to enroll in Part B without a late-enrollment penalty.

2. Enroll in Medicare Part A & Part B

If the employer has fewer than 20 employees, Medicare generally pays first once you’re 65. In that situation, you should verify with the employer whether you need both Part A and Part B so you don’t create coverage problems.

Have an HSA?

This needs extra planning. Once Medicare begins, you can no longer contribute to an HSA. And if you enroll in Part A after age 65, Part A can be retroactive for up to 6 months, which can affect HSA contributions.

Still working past 65 and not sure whether to enroll or delay Part B?
I can help you review your employer coverage and determine the next step.

No fee. No obligation. No pressure.