The easy way to figure out when you should switch to Medicare | Free Download!

The cost difference between your work plan and Medicare is one of the biggest determining factors of whether or not you should move to Medicare. For some, it's even the difference between continuing to work and retirement.
We go over how you can calculate which option is stronger for you.
Download the Medicare vs Company calculator here:
theretirementnerds.com/medica...
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⏰ TIME CODES ⏰
0:00 Medicare and Company Units
0:56 Plan 1 - HDHP
6:55 Plan 2 - Traditional Plan
8:16 Plan 2 with more Company Help
8:54 Important Takeaways
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#medicare #theretirementnerds #socialsecurity #retirementnerds #finance
Federal Disclaimer:
We do not offer every plan available in your area. Any information we provide is limited to those plans we do offer in your area. Please contact Medicare.gov or 1-800-MEDICARE to get information on all your options.

[@StorytellerSueW]

Turned 65 in March. Retiring tomorrow! Had sushi for dinner. Yumm! Love your videos and info; you are the best!

[@Theretirementnerds]

Congratulations! What a big day for you tomorrow! Appreciate you!

[@clshier]

I've been stewing over the complicated factors involved in this decision for a while, so thank you for your video and calculator; much appreciated. In our case, due to low medical needs (expenses) the medicare premiums alone wouldn't be enough to cross the threshold to be able to deduct the premiums from our income taxes, while my employer plan premium is paid in pre-tax dollars. I had to factor that in to determine that although the Advantage plan was numerically lower in your calculator, when considering the pre-tax/post-tax dollars, the employer plan was actually less costly.

[@Theretirementnerds]

Great points! Thank you for watching and sharing!

[@JagLite]

Another excellent video. Now I will eat breakfast and go to work. I made the mistake of thinking I had to sign up for Medicare at 65 for parts A & B. No agent of course, not knowing anything about it and still working at a company with good medical benefits. A few months later I read that I didn't need part B and that I could opt out of paying for it every month. I was able to find out how to do that and was able to get that fixed and only had to pay for the months I had part B. This was during the Covid years and everything was much more difficult to get done. I am 4 months away from retiring at 70 so watching you videos is very helpful and very much appreciated. I will be contacting you next month to find out who your partner agent(s) in Alaska is/are to start the process. Thanks again!

[@Theretirementnerds]

Thank you for sharing! That signing up at 65 while working is common 😕 We'd be honored to help when the time comes!

[@MoneSwann]

Thank you for the work that you do! You are greatly appreciated!

[@Theretirementnerds]

Thank you for saying this!

[@masterlee4370]

This was an awesome video. Easy to understand and the color charts were spot on. But after watching it I got really hungry and started thinking about all the food my wife grilled on the pit Sunday from steaks, chicken, hamburgers, Cajun sausage to the BBQ baked beans with bacon it was all just so good. Then she picked some cucumbers, tomatoes, and romaine lettuce from the garden for the freshest salad. Oh and she did this angel food cake with strawberries and fresh whipped cream which I had 2 servings of. So much for that salad lol.

[@Theretirementnerds]

Haha! I'm hungry too! Have an announcement coming this week that I hope you'll enjoy!

[@johnowens5342]

As a broker I do see employer insurance that is better from time to time and if that is the case I always recommend staying on it. For most people in my area the advantage plans are of more value and in some cases a plan G. I give your channels information out because your comparisons are always apples to apples. Thanks for the great content.

[@Theretirementnerds]

Agreed. It's about 50/50 in our area. A lot of employers who will contribute more and switch the equation. Hopefully the calculator helps people with that.

[@tereyes5633]

I turned 65 in May and went on Medicare A/B & D. My employer insurance was too high. I was paying over $500 per month and our deductible went up alot to $9,1k for an individual. It was time for me to go on Medicare. Luckily I had major surgery last year when the deductible was lower.

[@Theretirementnerds]

Thank you for watching and sharing this experience!

[@jacqueandrew1033]

The problem is that you won't get the blood tests and "touch" physicals that you normally get from the company paid health care. Your yearly physical is a no touch physical, you only get blood pressure, and weight. You have to ask for PSA.

[@g0989]

With original Medicare, even with a Supplement; yes, routine annual physicals aren't covered, so you would have to pay out of pocket if you want one. But most Advantage plans will cover routine physicals with the patient paying whatever the plan's copay is for a PCP visit.

[@climate42]

Interesting. I have a Medicare supplement plan and have never paid for a physical or blood tests. Maybe my state is different.

[@g0989]

@@climate42 Original Medicare will pay for blood tests if your physician has determined such a test to be "Medically Necessary". But Medicare may not pay for such a test if if it is simply being done as a matter of routine, with no risk factors based on evaluation by a medical professional, or previously diagnosed conditions needing to be monitored.

[@kristiG5259]

Watched this awesome video while snacking on some dark chocolate 🙂. Great info! My contract job has a very expensive plan and my husband has hit his deductible. They will probably offer me a permanent position next month and I'll have to decide on their plan or COBRA, then the company plan or Medicare next year, when I'm eligible . This stuff is exhausting. Thanks for all your help!

[@Theretirementnerds]

It is a mess, isn't it? Thank you so much for watching! 🍫

[@carlloucoleman]

Interesting I needed to know that.

[@Theretirementnerds]

Glad it was helpful!

[@tomm7505]

I just made my homemade tomato sauce and homemade meatballs (both copied from the way my mom made them) along with rigatoni. I'm smiling. Thanks for the video! I had excellent health benefits at my full time employer. The employees only paid 10% of the monthly (actually bi-weekly) cost and the deductible was $300 per year and I think the MOOP was $1,000 per year. It was a PPO.

[@Theretirementnerds]

My mouth is watering! Sounds like a stellar work plan!

[@gregcampbell4467]

Good tips to make one's bread 🍞 go as far as possible

[@Theretirementnerds]

I like what you did there :) Thank you for watching!

[@ph5915]

Tamato TaPPO 😂. My employer high-deductable (pre-Medicare retiree plan) is a PPO, but in-network only. That's the cheap version. Except/unless a real emergency, anything I went to/for out of network I would have to pay 100%... Luckily, anything I've needed seems to be in-network. There is an option for a 'regular' PPO where they pay some of any out of network charges, but the monthly premium is more, so, me being cheap, I stick with the lowest cost 😂

[@Theretirementnerds]

Thank you so much for watching and sharing your thoughts process 🍅🙂

[@jenenemathews8770]

🍉 and I just subscribed! Why does everyone say you have to enroll in Medicare at 65 or face fines if you don't?? My husband turned 65 this year, but is still working full time, and we didn't know it was an option. I'm looking forward to watching the next video to learn more.

[@Theretirementnerds]

It's an interesting myth... just a misunderstanding of rules. Thank you for watching and subscribing! 🍉

[@vargonian]

If you ask me my favorite part of the video, I’d say it’s the whole enchilada.

[@Theretirementnerds]

Haha! Thank you so much! 🌯

[@stickplayer2]

My employer (who I should say administers health plans and pensions for about 60,000 families) gives truly Cadillac insurance, at $0 premium/month, for the employee, and $25/month for each additional family member. Hospital, medical, vision, dental, drugs. Major providers, super low co-pays. I lucked out, because I wasn't looking for that. But it's really driving me to stay in the workforce, because of the likely cost, I'm a little past FRA, but still keeping this insurance while I work there. Before that, I worked 10 years at a place with such horrid insurance, at a much higher cost, that I opted out and paid for my own insurance the whole time, since good insurance was easy to find at almost the same cost. This place was really all about funding the founder's family lifestyle, so they of course didn't use the insurance they offered to us.

[@Theretirementnerds]

Thank you so much for sharing! So fortunate to have the coverage you have now. That's great!

[@lorifrye5053]

Life is short. Have an ice cream! Great video.

[@Theretirementnerds]

Agreed! 🍦

[@ABab-jf2jb]

I just turned 64. Will need to enroll in Meducare in a few months (before turning 65). I am in North Georgia. Are you licensed in Georgia? Or do you have a broker you recommend? Thank you.

[@Theretirementnerds]

I am not licensed there, but I have a partner who is and I trust them with my life. My email is [e-mail] if you want me to introduce you over email.

[@BillGreenAZ]

That's some hot pizza worth of cipherin' right there.

[@Theretirementnerds]

Thank you for watching! 🍕

[@tioswift3676]

Why do the Maximum/minimum risk numbers go above the Max out of pocket limits in this example?

[@Theretirementnerds]

Maximum out of pocket limits within plans do not include premiums to have the plan.

[@danvance9113]

Time for some food! (lunch)

[@Theretirementnerds]

Yummy! Thank you!

[@netboyatl]

Ice cream for great videos like it.

[@Theretirementnerds]

Thank you! 🍦

[@michaelhoward3916]

i love ice cream!

[@Theretirementnerds]

My weakness... Ice cream. We have a place called Handel's here. They have a flavor called cinnamon graham cracker that is my single favorite food item. It is dangerous.

[@kennethreynolds8]

Hot dog I'm glad I watched your vid. 😀

[@Theretirementnerds]

Haha! Thank you so much Kenneth!!

[@jcbrinlee6837]

Orange

[@Theretirementnerds]

Thank you! 🟠

[@Its_Me0000]

Strawberry milkshake

[@Theretirementnerds]

Thank you! 🍓🥤

[@user-td8hc1iu3f]

thats better info than a ham sandwich!

[@Theretirementnerds]

Thank you! :)

[@July.4.1776]

🌮

[@Theretirementnerds]

Thank you!!

[@BCN263]

Eat healthy. Live long. Chicken Salad. #1

[@Theretirementnerds]

Thank you!! 🥗

[@Ehtizan-Editor-002]

Hey The Retirement Nerds, I just watched your video and I must say that it was really informative and well-made. I was wondering if I could help you edit your videos and repurpose your long videos into highly engaging shorts? I can also make high CTR thumbnails for your channel

[@LikeitnowLoveitlater]

Is having cherry pie a la mode an inspiring a breakfast as this inspiring video?

[@Theretirementnerds]

I'm suddenly craving it... so yes. Equally inspiring 🙂🥧