My wife isn’t able to go on Medicare, Advantage Plan B was what the University spoke of in a retirement meeting. March 27th I’m 65 years old, I thought I had to take it, while I asked my current employer HR department, they said if I choose to take it, and sounded as if I had a choice, based on if I take my social security now.

So my question to either my Uni or current Employer was that in my email to them. Do I have to accept Medicare? even if I don’t go on Social Security? Yes or No. They have not contacted me, kind of ended there.

Anyone care to weigh in, I might be able to get Insurance through my work if I don’t have to take it this year, that way my wife turns next year when I’m 66 of course they moved the line to 66.5 which is Sept 27 2023. I think I can handle working this job till then.

Thanks for any responses in advance. I wanted to post in the retirement thread but comments in it said, most likely exhausted no need to add to it. Make a new one.

kv

 

It’s my understanding that you have to take it at age 65 or forfeit it. Or have to pay a yearly penalty. Either way, you have to take it.

This is independent of receiving Social Security.

The only definitive answer is to spend a few hours on the phone and call the Social Security Administration. While you’re waiting, perhaps you can find the answer on www.ssa.gov

ADDENDUM: Or if you live close to a city with an SSA office, perhaps you could go there.

 

From what I understand you can opt out of Part B, and not sign up for Part D, but current law requires you to have coverage for those through a private plan if not.

Edit: changed "plan" to "part"

 

You can refuse medicare, but there are consequences, inckuding your eligibility for medicare supplement plans. Those plans must accept you if you take your Medicare at 65 , but if you wait, they can refuse you or charge you a higher rate. And you really want a supplement plan.

Also, an employer may require to use Medicare and they become the supplemental.

I have been on medicare for nearly 5 years now with supplement, and I have not had to pay a penny for 3 surgeries and 1 hospitalization, with the exception of prescription drugs, which always have deductibles and copays. It is far better, and cheaper than the plan I had while working and the Obamacare plan I had for a couple of years after retiring, before turning 65.

And,, as someone else mentioned, it is independent of taking social security. I will start my SS pension June, after I turn 70 and get the max benefit.

Bob

 

You are best off taking the Medicare at 65, then continue paying for health insurance at work (+1 for spouse). Most work insurance plans are cheaper and ether than your wife buying her own on the open market. If your wife is working and has access to insurance, she could get an individual plan there when you stsrt Medicare.

 

Ok, I think I get it now. My issue is my wife who has MS keeping my current Insurance would have been optimal, changes are such an issue with billing cycles, appts to the doc and such. I doubt COBRA will offer us little support with a pre-existing illness. My health insurance through my current employer said she can’t be on theirs it if I take Medicare, it’s almost as if I could use an insurance lawyer to represent me, no one wants to add that to their Corporate expense, no longer profitable instead we are a drain on the system. It’s not enough that it’s said Social Security will run out around 2035 either.

Counting that money is a joke, we are upside down with that system and even worse no one cares to work in this country anymore, it’s pathetic. And Pathological Apathy.
Delusions of Social Media and Stardom is like smoking a opium pipe, suddenly finding the streets in a false belief they have beaten the system. People literally quitting their jobs or dropping out to attempt the golden circle of success. In the last 2 years suddenly realizing I’m surrounded by idiots, clueless lemmings, like a re-run of the 60’s, drop out and tune in.

Maybe it’s the Media once again citing issues blowing them up in the news or maybe it’s money managers out to scare me? I don’t know at this point, kids seem to still go to school, entering into debt they will never get out of, no one is there to tell them, debt is not the way out and only the way to Financial Slavery. Some will, some won’t, some do, some don’t next attitude. The Fortune 500 Graduates dictate Social Movement, are we now a country bound by Corporate Greed? and wall street millionaires who perpetuate the idea why save for your future, instead there is a sucker born every minute?

Maybe, I’m hoping people will pull their head out their bottoms and realize the earth wants to kill you and recycle your energy. You defy the laws of the Universe, if you want to be zero state energy then so be it. I’m in no rush.
.



kv

 

COBRA should cover the same as the original employer plan, but it is VERY expensive.

Bob

 

COBRA should cover the same as the original employer plan, but it is VERY expensive.

Bob

Time to pay the piper I guess no other choice.


kv

 

Counting that money is a joke, we are upside down with that system and even worse no one cares to work in this country anymore, it’s pathetic. And Pathological Apathy.

Funny how everyone is disgusted at the workers lack of motivation - instead of being disgusted at employers and their unwillingness to retain employees with better wages.

I think it is pathetic when an employer would rather keep operating by pushing all work on the remaining employees, not responding to customers and shipping product late (or not shipping at all just so they don't have to offer higher wages to maintain a reasonable staffing level. Those companies will soon die.

Also, the "Great Resignation" is more about employees finding higher paying jobs (or headhunters actively seeking happy employees and making unsolicited offers) than it is about employees quitting to sit at home and do nothing.

 

Funny how everyone is disgusted at the workers lack of motivation - instead of being disgusted at employers and their unwillingness to retain employees with better wages.

I think it is pathetic when an employer would rather keep operating by pushing all work on the remaining employees, not responding to customers and shipping product late (or not shipping at all just so they don't have to offer higher wages to maintain a reasonable staffing level. Those companies will soon die.

Also, the "Great Resignation" is more about employees finding higher paying jobs (or headhunters actively seeking happy employees and making unsolicited offers) than it is about employees quitting to sit at home and do nothing.

It’s a dichotomy, perplexing isn’t it. Seems we all have an opinion don’t we, none really have the answer, but the earth and universe dose. Recycle.

kv

Edit: It’s clear to dinosaur's, as they smoke in my tailpipe.

 

There is really no point to opting out of Part A. unless you don't have your 10 years in, if you don't have your 10 years Part A has a hefty premium.

 

There is really no point to opting out of Part A. unless you don't have your 10 years in, if you don't have your 10 years Part A has a hefty premium.

Explain 10 years in? Into what exactly social security medicare? I’m able to do Advantage B all I know.

kv

 

10 years in means paying a payroll/self employment tax to Social Security/Medicare for 10 years.

 

It’s a dichotomy, perplexing isn’t it.

Nope. Not a dichotomy and not perplexing. It's simple, basic, elementary economics. Supply and demand.

You seem to believe workers should subsidize labor costs of employers by not expecting market forces to determine wages.

 

Nope. Not a dichotomy and not perplexing. It's simple, basic, elementary economics. Supply and demand.

You seem to believe workers should subsidize labor costs of employers by not expecting market forces to determine wages.

Apparently you do have the answers, supply and demand. Gee I wish I could have thought that, thx man.

kv

 

Its a little of both, the employer and employee system is not always perfect market.
1. Perfect markets need perfect information. wages and salaries are usually kept in the dark
2. demand must be elastic. non satiation but when wages go up demand for the job increases... when prices go down demand increases. Certain things like plasma and jobs are not elastic - you can't always just take it or leave it... this is why our medical industry is so messed up - greed... pay or die. Many people are stuck in jobs because there are no options.

I'm still irked at the incredible CEO salaries made off the backs of the working class. Employers are pretty one sided when it comes to your ideas being their property. There are a number of issues with the system as a whole. I'm not sure if it's laziness or people wanting to get a fair deal... maybe some of both. I'm always looking for a new opportunity because I believe the value I bring is much more than what my employer wants to compensate me for.

 

I’m able to do Advantage B all I know.

Advantage B is different than Medicare Part B. You have to tell the Social Security Administration explicitly that you want Part B coverage.

Medicare Advantage plans are like HMO's. They usually include your Part B premium and also provide dental, vision, hearing, and/or prescription coverage.

Original Medicare has supplemental plans, sometimes called medigap plans, offered by third party insurers. Plan G will pay for your Part A deductible and cover most out of pocket expenses. But you have to buy separate Part D (prescription) coverage and pay it's deductible (which is outrageously high). If you were a little older, you would have qualified for Plan F that pays for your Part B deductible. There are about a dozen different supplemental plans. Medicare should have sent you information before your eligibility window.

There are lifetime penalties for not signing up for Part B and D coverage when you're first eligible. The enrollment window is 3 months before and after your 65th birthday.

If you plan to travel outside of the US, Medicare Advantage plans only provide coverage in the US. Medicare provides coverage in other countries.

Instead of getting advice on AAC, you should work directly with Medicare or someone professional who knows the rules.

 

Apparently you do have the answers, supply and demand. Gee I wish I could have thought that, thx man.

kv

I'm always here to point out the obvious when somebody's opinion is blinding them from the underlying facts.

 

I'm still irked at the incredible CEO salaries made off the backs of the working class. Employers are pretty one sided when it comes to your ideas being their property.

I've brought this up many times here over the years. And each time was told the CEO's were the "heart" of companies, without them a company is nothing. and that they seem to be worth even more than the exorbinate sallery and perks they get! And I still say that thinking is BS, without the worker doing his job there would be no CEO job!

 

Let’s get off the politics, we get enough of that everywhere else.

Bob