Should You Take Medicare at 65 or Wait? | Medicare vs Company vs Individual Plan

[@Paulsapartment]

Thanks!!

[@Theretirementnerds]

Appreciate you Paul!

[@michaelhoward3916]

Great stuff Thanks

[@Theretirementnerds]

Thank you!

[@ssa8479]

I turn 65 next year, but planning to stay on my employer's health insurance for some more years. I'm in good health, like/enjoy my job, and put money into an HSA. I'd have to stop doing that if I sign up for even Part A. Staying on my employer's coverage is much cheaper for now, so that's the route I will take till 70, maybe a year or two past that.

[@Theretirementnerds]

Sounds like a good plan. Remember, when you start taking Social Security benefits, you'll be signed up for Part A and you'll opt out of Part B. Latest you want to take SS is 70, so HSA contributions will need to stop about 6 months prior to your 70th.

[@ssa8479]

​@@Theretirementnerds Thanks, that's the plan! Great job with your videos!

[@Theretirementnerds]

@@ssa8479 thank you so much!

[@davidrigoni8231]

I fall into that last category. Turning 65 in 2 months yet wife is only 62 and has significant health costs, so continuing to work until she’s 65 seems best choice

[@Theretirementnerds]

It's a choice many have to make, and if your work coverage is stronger than marketplace coverage, then yes, stay working to keep her covered well. Thank you for sharing your experience!

[@vistamutual]

Helpful breakdown, Keep it up!

[@Theretirementnerds]

Thank you so much!

[@paulajohnson6409]

What of I decide to work til 70 and keep my employers insurance? What are the penalties for waiting til later. I want to hold off on both social security and Medicare and stay productive long as possible.

[@Theretirementnerds]

No penalties, and this can be a great option if your company has 20 or more employees as the video suggests. You can hold off on both. We wouldn't advise holding off on Social Security past age 70, and once you go on Social Security, you need to have at least Part A. But if you want to work past 70, you can keep your company plan and not get Part B until you retire if that's what you want to do.

[@davidfolts5893]

It's nice to hear healthcare complexity simplified in an easy-to-understand way. Thanks 90 Days From Retirement! Great job!!

[@Theretirementnerds]

Thank you David!

[@eduardooramaeddie4006]

Thank you always great information on Medicare Thank you Eddie 🇵🇷👍

[@Theretirementnerds]

Thank you Eddie!

[@harveyh3696]

A+ for the algorithm

[@Theretirementnerds]

Thank you Harvey!

[@patriciocabrera8424]

Where do I get this agent?

[@Theretirementnerds]

Hi! If you want to send an email to [e-mail] with your zip code, we can take a look. I'm not personally licensed in all states, but I have partners who are!

[@SuRFerretti]

It's been my experience with Medicare beneficiaries who work part time (20+ hrs/wk) may qualify for benefits under their employer plan and Medicare will then act as the secondary payer after the Medicare deductible has been met. Make no mistake, Medicare is ALSO managed care. They have "medically necessary" requirements, quantity limits, qualifying diagnoses, can require prior approval, medical documentation and deny services based on any of those factors. Medical services providers are either "participating", "non-participating" or "private pay".

[@Theretirementnerds]

💯 such a common myth that once I go on Original Medicare, I can do whatever I want, whenever I want. Not the case. Thank you!