 Before I sign up for medical insurance? |
How much does it cost to have it? Should I or should I not sign up for it?
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lmpod | Is medicare part B insurance required if you are working and have group health insurance? |
group health insurance? I was told Medicare is primary other group insurance is secondary. please give information I can understand and pass on to those 65 and older and the insurance representative. Thank you in advance.
lpod |
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mbrcatz
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No. Medicare part B is NEVER required. |
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desnlori
|
No. As long as you have qualified group health coverage, you are fine to defer part B. Just be careful, once you don't have the group coverage, you only have 6 months to pick up B and if you don't you are penalized 10% for every 12 months you don't have it for the rest of your life. So, in theory let's say you thought you didn't need it when you leave your group coverage, then in 10 years you get very ill and decide to pick it up next enrollment time. Well 10% times 10 years equals 100% meaning you will be paying twice the amount required of those without a penalty.
As far as who is primary, if they are active employee benefits, the employer benefits are primary. If they are retiree benefits, then Medicare is primary.
But the short answer is, as long as it's qualified, no you don't. |
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Zefina
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No. But Part A is free. If you do get both plans, make sure you call medicare and your commercial carrier to detrmine who is the primary payer on claims. Even if you only elected the Part A aka Hosptailization coverage. Medicare is not always primary. It can vary based on if your commercial carriers is a retiree group or an actives group. It can also very according to your Medicare entitlment reason, and the number of members in the group medical plan. Call your commercial carrier and they can probably give you a better idea of who would be primary. |
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Ann C
 |
to answer the second half of the question, as long as your employer has more than 20 employees then then the commerical insurance is primary. |
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STEVEO
 |
most of the previous info is accurate. Medicare Part A is not free though. to receive it w/out paying additional premium you or your spouse must have worked at least 40 quarters in your/their lifetime and had Medicare deducted or payed during those quarters. if someone has paid in less than the required 40 quarters then there is indeed a premium for Part A.
if you are still working beyond your Medicare eligibility date(for most people that is the month of their 65th birthdate) and your employer provides health insurance then you don't need to accept Part B when it is first offered to you. Since Part B has a premium (currently $93.50/month) most people consider the coverage to be redundent and not necessary when they have group coverage through employment. to start your Part B at a later date you will be required to provide a Letter of Credible Coverage to prove that you had other insurance during this period. otherwise you will be penalized for getting your Part B late.
since 2006, Part D of Medicare (prescription drug coverage)is also offered as an option under Medicare. it is designed, partially funded and administered by Medicare but purchased as a drug card from insurance companies. just like Part B, it doesn't have to be purchased if your group coverage has drug coverage that is at least as good as the Medicare miniumum requirements. the group health insurance company will tell you this when you near you Medicare eligibilty date. when you are no longer covered for prescription medications under your employer's plan they should also include that information in the previously mentioned Letter of Credible Coverage. |
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doc
 |
The answer is no, but you should sign up for Part A. |
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