 | GuidelinesKeep these in mind: - By law, employer group health coverage (EGHP) must continue at any age (past 65) if you continue working
- Turning 65 would not force you to take Medicare unless your employer has fewer than 20 employees
- You should always check with your Human Resources manager about Medicare enrollment when turning 65
- If your spouse is on your group plan, you may be required to stay on your group plan to keep coverage for them
- If you are considering Medicare and choosing a plan, compare the premiums, copays, deductibles, MOOP*, etc.
- If you've done your homework and determined that Medicare is the best deal, then you should leave your group plan
- If you do leave your employer group plan, this may be a 1-way trip as you may not be able to get back on later
- You will have to pay your Part B premiums quarterly to Social Security as you will most likely be delaying your Social Security benefits
- If you delay taking Medicare and have creditable coverage, you'll have a SEP when you do retire and enroll in Medicare. Additionally, you would not be exposed to a late enrollment penalty.
* MOOP = Maximum Out of Pocket expenses |