Anonymous asked in Business & FinanceInsurance · 2 months ago

How does Medicare works?

So let say I retired and I still kept my health Insurance from my employer , do I still need to be enrolled in Medicare. Right now Medicare cost about 150 and they take that out of the benefit each month. Since I already have health Insurance through my employer why pay for both insurance ?

Thank You

9 Answers

  • Kini
    Lv 7
    2 weeks ago

    Your employer, if they are more than 20 employees, can pay your monthly Part B premiums but he doesnt have to and you dont have to enroll in Medicare even if you are 65. Medicare Part B premiums are $144 for most people but if you have a high income it can be higher. If your employer is letting you keep your current insurance plan, you dont have to have Medicare, but Medicare is usually cheaper and has no high deductibles but it does not cover everything. You have to weigh the benefits of your insurance plan versus Medicare.

  • 1 month ago

    by the age of 65 yrs. old you are required by Federal Law to have signed up for Medicare or you can pay the penalty and then sign up......all these computers and everyone spends there time asking a question they could easily "Google Search" and read the answer directly from the Govt. Agencies website......Really People! 

  • Anonymous
    2 months ago

    It doesn't.  It's another unconstitutional federal government program.  It's not designed or intended to work.  It's just another way for the federal government to attempt to control the populace.

  • ?
    Lv 7
    2 months ago

    99% of all health insurance provided by employers automatically turn to 2nd payer on your 65th birthday, which means if you don't have Medicare as primary they won't pay anything. But it is a good idea to keep both because your employer provided insurance pays what Medicare doesn't meaning you don't have to shell out for a Medicare supplement. 

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  • 2 months ago

    Medicare is a tax you pay from every paycheck you receive. it is not insurance you are paying for, for yourself. You, along with millions of other Americans are paying in part for the older generation to have their medicare benefits. Any health insurance you obtained from your employer is deducted from your paycheck also, and that is strictly for your portion of the employer sponsored insurance coverage. You aren't covered by Medicare and your employer insurance, regardless. Until you are old enough and qualify for Medicare, you will not receive Medicare coverage.

  • ?
    Lv 5
    2 months ago

    You do not have to enroll in Medicare if you have insurance through your employer. However, check with your benefits department. Many companies require you to sign up for Medicare when you become eligible. Your medicare insurance becomes primary and your company insurance secondary. Companies do that because the premium they are charged becomes lower.

  • 2 months ago

    You need to be enrolled in Medicare Part A, which does not cost you anything now and is not taken out of the benefit (it is funded with a tax that is taken out of your paychecks when you are still working).

    What is being taken out of your benefit each month is Medicare Part B.  You do not need to be enrolled in Medicare Part B.

  • Judith
    Lv 7
    2 months ago

    Yes.  You still need to enroll in a Medicare program when you reach age 65 because, if you don't, your insurance via your employer will cover only what Medicare wouldn't have covered.   So if you have a bill for $100 and Medicare would have paid $80 of it then your insurance will pay only $20 and you are liable for the $80.  In other words, any health insurance once a person has retired will only supplement Medicare.  it becomes secondary; Medicare is primary.  That is how private insurance companies save themselves money.

    Of course you can let your secondary insurer go but I don't think that's wise either.  Medical bills increase with age as health worsens and having to pay copays and deductibles could break the bank.  Better to pay two premiums and have the secondary cover what Medicare doesn't.

    Medicare Part A is normally paid for when a person works and pays SS taxes.  Only people who haven't paid SS taxes long enough must pay the hefty monthly premium for Part A.  Everyone who has Medicare Part B must pay a monthly premium (unless they are a QMB as explained in my other answer).  The amount of the premium is connected to a person's yearly income.

    This does NOT apply to people who are age 65 who continue working and have a health insurance plan through their employer.  They sign up for Medicare when they retire in what is called the Special Enrollment Period which is 7 months long beginning with the first month of non-employment.

    I was a SS claims rep for 32 yrs.

  • 2 months ago

    No, you shouldn't have to pay for both.

    Here is an article on the website (federal medicare website) on how to deal with employer insurance with medicare:

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