3 Replies Latest reply on Apr 20, 2012 4:57 PM by terry_purdy

    Medicare

    pvick
      I am still working and have health insurance from my employer.  My wife is now eligible to go on Medicare, but the cost is nearly $100. a month nearly a third of what she receives.  Should she reject medicare because she has ins. thru me?
        • Re: Medicare
          JerryD
          Go to the Medicare web site to see about options and use Google to see other opinions and to educate yourself. Some of the seminars offered by supplemental Medicare insurers might be informative - ours are run by contractors retired from the insurance business. Ask you employer's HR department for alternatives. 
          • Re: Medicare
            jkom51
            First, call your insurer and ask to speak to a rep who's experienced in handling Medicare transitions. You need someone probably more knowledgeable than the average rep and you're also going to need something in writing. They will either direct you to where the appropriate policy language is posted on their website, or you can ask that they fax/mail it to you. DO NOT NEGLECT THIS STEP.
             
            The reason you need to talk to your insurer is that some require that once eligible for Medicare, you must take it so that they can then become the secondary insurer. Not all insurers give you a choice on this, which is why you need a rep who actually knows what s/he is talking about. A verbal guess is worth all the paper it's printed on, in this situation!
             
            In most cases, your wife will be allowed to "pass" on Medicare because she is covered under your policy. She still however, must go through the sign up for Medicare! It gives the option for declining due to private coverage. She needs to do this, because when the day comes that her coverage through you ends, she can then begin her Medicare coverage without any financial penalty.
            • Re: Medicare
              terry_purdy
              Depends entirely on what her current coverage is through your employer plan and how much that costs.  She MUST sign up for Part A.  It is no cost and there is a penalty for not signing up.
               
              This is a very complex decision.  Even with the Medicare parts A & B, there are gaps in the coverage and she will need a medicare advantage plan or a supplement plan to be adequately covered.  So, the $100/month is just the beginning of the costs.  Now if her coverage through you is lots more expensive, then it can be a cost savings.  If you have a high deductible, there might be reasons to switch.  Find a Medicare agent who deals with Medicare Advantage plans AND Medicare supplement plans and Part D drug plans and get information in addition to the information you get from your employer's plan.