Working Past 65? Avoid THESE Medicare Mistakes

[@TheMedicareFamily]

Let me know what you think about the video in the comments below! Get my FREE Cheat Sheet, Workshop, and other tools here: linktr.ee/medicare.mama

[@j.y.3604]

Love your videos. Question. I make $100K per year, I am 66, born Nov. 1958 so FRA is 66 & 8 months, so August 2025. My company has excellent health plan, more than 90 employees, do not need medicare and because my employers has more than 20 employees I will not have any penalties when I do need Medicare down the road. If I file to receive soc sec. @ 66 & 8 months and continue to work will I be penalized for the income I made from Jan. - July 2025 prior to turning FRA? If so how much and would it be better to start receiving social security in Jan. 2026 to avoid income penalties as my income will stay around the $100K mark until I die, or retire which I have no intentions of doing.

[@jameshess2912]

Because my late enrollment for part B, SS penalized me with $97/mo, even though I was out of the US at that time. Would you please let me know how I can recover this money!?

[@theprofessorslover6946]

You absolutely RULE! Thank you for such an informative and "right-to-the-point" presentation. Take care.

[@TinaGregory-sv8fx]

You and your team have been an invaluable resource to me and others that I refer, in preparing intelligently for being 65 and plus. Your Tik Tok answer sessions are terrific, and the measured and professional way in which you answer live questions is really admirable. Thank you for providing a service that is critical.

[@joannafigtree4647]

Learned a lot and still learning. Thank you!

[@vanessawilliamstnt]

I just subscribed to your page, I really love the way you explain the Medicare Benefits, straight to the point and easy to understand. Thank you

[@GillerHeston]

It’s critical for Medicare-eligible individuals to select optimal plans to reduce the likelihood that lack of coverage would prevent smart health care utilization choices, not only for their health outcomes, but also to help keep health care spending in check.

[@joshbarney114]

In my opinion, enrolling in medicare isn’t just a way to get health care coverage when you turn 65, it’s also a major part of ensuring financial security during retirement. Individuals can seek counsel from a certified financial advisor, who can provide specialized advice and methods to decrease expenses and maximize income.

[@rogerwheelers4322]

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[@FabioOdelega876]

I think this is something I should do, but I've been stalling for a long time now. I don't really know which firm to work with; I feel they are all the same but it seems you’ve got it all worked out with the firm you work with so i surely wouldn’t mind a recommendation.

[@rogerwheelers4322]

I definitely share your sentiment about these firms. Finding financial advisors like Marisa Breton Dollard who can assist you on things like investing, insurance, making sure retirement is well funded, going over tax benefits, ways to have a volatility buffer for investment risk would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.

[@FabioOdelega876]

Marisa has the appearance of being a great authority in her profession. I looked her up online and found her website, which I reviewed and went through to learn more about her credentials, academic background, and employment. She has a fiduciary duty to protect my best interests. I sent her an email outlining my objectives and also booked a session with her; thanks for sharing.

[@ggjohnson5754]

Thank you! So I must take A and B, then I can choose G?

[@TheMortgageXpert]

2.5 more years to wait. Thanks for all your tips!

[@whitetiger8652]

Great informative video. Thanks.

[@BarbaraJMiller]

I wish I knew about your videos before I retired - great info keep up the good work!

[@SM-zw7vw]

I just found out that the postal service is telling us we have to go on medicare when we are 65, even if we are still working.we have over 20 employees of course. I so confused nobody’s telling us the right answers. Thank you for your help.

[@TheMedicareFamily]

I’d done videos on it

[@kathygriga4668]

Also my husband is 59 he is not on my health insurance

[@Cat-r5l3e]

You mentioned the loss of the HSA, but what about FSA?

[@mtnBikr]

I'm glad you addressed the HSA rule, that there is a penalty for contributing to an HSA while you are on Medicare. You failed to mention that when you SIGN UP for Medicare after the month you turned 65, Part A Medicare will start 6 months prior to when you sign up but will not start before your 65th birth month. That means you can not contribute to an HSA for six months prior to signing up for Medicare, if you are 65.5 or older. I was told they back date Part A six months before you START Part B. This is not true. Part A is backdated from the date of SIGNUP and not the START date. This caused a penalty for me because of misinformation.

[@TheMedicareFamily]

Thank you very much!

[@brendafoster9504]

YOUR AWESOME. GREAT VIDEO!!!

[@TheMedicareFamily]

Thanks for your kind comments! 🥰

[@Twelvestonestacking]

You are the bomb! I like the cadence of your videos

[@TheMedicareFamily]

Thanks for your kind comments! 🥰

[@marcstone4637]

What if my employer has a high deductible option but I am not using that plan and have a FSA

[@TheMedicareFamily]

thats fine as long as there are 20 employees at the company

[@kathymcgraw1588]

The comment I would like to add is this. My husband and I are both FRA. We recently got our Social Security and hoped we could "opt out" of Medicare Part A so that we could continue our HSA though my husband's employer. Found out that you ARE AUTOMATICALLY ASSIGNED PART A MEDICARE (no choice here) even if you ask to not have it. We tried to communicate this to Social Security/Medicare without success. Am I wrong here?

[@tatyanakalugina7887]

Thanks for the clarification 👍

[@TheMedicareFamily]

my pleasure🥰

[@debmo970]

What about if you are on your spouses employer benefits. I would keep my benefits through them until he retires. Then I will apply for part B, correct?

[@robincox5032]

this is my question also?

[@Naomi-km2tn]

Great video! If you are 65+, working for a company with 100+ employees and are covered under the employer's group plan, can an employer require you to sign up for medicare?

[@MaryBethMcCoy]

No!

[@KarlaMarsh]

I'm a little confused about the HSA being a mistake. He (61) has us both on his company's insurance, which is an HSA. $88/month for both of us. I (65) am on Medicare part A, and my part B, vision, and drug plan is his company's insurance. I go to the doc for annual stuff and take HRT meds. No way I will ever meet our deductible because he never goes to the doc and won't take any drugs. (My biggest expense this year was for dental repairs and implants after the donkey kicked me in the face.) Husband and I think that the tax savings and investment from an HSA is the better choice.

[@kenblair8268]

If I didn't contribute to an HSA In 2024, but did sign up for Medicare A in November, will I be penalized?

[@mikelyons70]

Very good thanks

[@ftrkhan]

Hi question I m 69 working full time with a large employer having 100 employees having full coverage for me and my wife for about 720 a month with$2000 deductible. Can I get Medicare and Medicare advantage so I don’t have to pay any premiums to Medicare. I m not even draw my SS

[@majorkira395]

Wasn't a law just passed that thr max out of pocket for medication is 2000 a year?

[@nancywiedman8720]

So if my husband works until 67 and has group health insurance… And I’m on his group health insurance… Do I need to apply for Medicare part a at age 65? I’m not working.

[@penelope5500]

I believe that if you have health insur. you don't need to sign up for Medicare. But once that stops you will need to sign up or get a penalty.

[@lannysix2569]

I retired at 67, but was on my wife's health insurance so I did not sign up for Medicare until I applied for Social Security benefits [6 months after retirement]. Did not face any penalty.

[@pbell4901]

Not if his employer has 20 or more employees and you are on his plan.

[@vladyline42]

If you have HSA PLAN, is it an option the employer does not have to put any funds into my account

[@masoudarabi8714]

I am a veteran 70 years old and did not get part B, used my VA benefit, if i want to get Part B at some time , Do i get penalized?

[@KipOConnell]

65 year old man, still working and enrolled on employers Qualified high deductible plan with an HSA that the employer contributes to. Have health issues requiring expensive meds including Keytruda. You said employer cannot require you to drop from their plan and go onto Medicare, nor can they bribe you to do so...but you said there is a legal way to do it. I want to flip the script and request that my employer pay me the money they are spending on monthly premiums and I will drop from their plan and rely solely on Medicare. How can this be done legally ? I do not want to expose my employer to any possible liability, legally or otherwise.

[@donnaallgaier-lamberti3933]

What about those of us who retired around 62 ish and took our Medicare at age 55 but then due to inflation we have had to go back to work parttime to make ends meet? We have A & B. (no HSA available.) We have Medicare BCBS PPO 9 THIS IS A RETIREES benefit for my husband) but we are paying $165.00 per person (times 2) every month PLUS my secondary insurance.

[@tomv4145]

scenario.... small business owner. California. I turn 65 and go off my plan and on to medicare. wife's health insurance covered by business. If I am off the plan, does the dependent have to go off? EDIT: oops, saw that you covered it.

[@Astro-George]

Question, What about a spouse that is on my healthcare plan at work 20+ employees. Spouse is eligible for Medicare and I am not. Spouse enrolled in part a when they were 65. Is there a penalty for the spouse for not taking part b?

[@TheMedicareFamily]

No

[@nitha609]

Let me get this right if i want to work pass 65 and don’t want to get penalized by skipping the Medicare, can i get medicare and also my employer health benefits too as a secondary insurance?

[@lannysix2569]

Yes, but research your costs. Medicare Plan B costs are based on income from a previous year. [2 years ago, I believe.]

[@kathygriga4668]

Just turned 62 I'm working full-time with health insurance I don't want to retire yet it looks like 66 is when I can collect ss and work and thoughts

[@TheMedicareFamily]

thats not your full retirement age

[@craiglarson5885]

Please address a high deductible group health plan with an HRA. I'm past age 65 and am enrolled in a high deductible group health care plan with a large employer. I pay nothing out of pocket in premium cost. My employer puts 3K per year into an HRA. Unlike an HSA, only the employer can contribute to an HRA. I also have an Medicare Advantage plan. Claims are filed with the group health plan which reduces the deductible. Then the Medicare Advantage plan pays the claim, so I don't have to use the HRA dollars. The HRA account is now over 10K and growing. I can use those dollars for dental implants as needed. This has been going on for years, and I've never been flagged for any tax implications. My employer's plan is primary, but it has never paid out on a claim as I've always been below the annual deductible.

[@greg5363]

Ok, but what if you never take part b, when will they charge you? when you apply or they will just bill you like IRS? if I don't I don't join ever then I don't pay? y/n? just so you know i have lifetime health insurance from the city of ny, plus dental,vision& Prescriptions at 0.00 monthly fee, seems your answer to the above will help me make a good decision

[@TheMedicareFamily]

if you never take it it will never be a problem

[@greg5363]

ty ​@@TheMedicareFamily

[@laurice8056]

What if you’re single, 64 & 1/2 years old, unemployed, don’t have any savings or retirement accounts, don’t have enough income to file taxes, and you’re currently on Obama Care? If it’s still a requirement to sign up for Medicare to avoid the lifetime penalty, will Medicaid help pay for the premiums?

[@bigjohnson7415]

I thought I read that at 65 you have to register for Medicare, even if you don't take it to avoid the penalty.

[@laurice8056]

And I thought I heard that 4 months before the month you turn 65 you have to sign up for Medicare to avoid the lifetime penalty, even if your full retirement age is 67.

[@bigjohnson7415]

@@laurice8056 Yeah, I think you're right. It was like 4 before to 4 after. I had hoped she would clarify my response, but I believe that is correct.

[@jr2721]

@@bigjohnson7415 it is 3 months before your birthday month and 3 months after your birthday month.

[@bigjohnson7415]

@@jr2721 Thank you for the clarification. I was sure it was something like that, that you had to register even if you weren't ready to quit your job you lose your employer based insurance.

[@mtnBikr]

If you sign up for Social Security at 65, you will auto-enroll in Medicare. If you do not sign up for SS, you can delay signing up for Medicare as long as you have credible coverage, which means your employer of 20 or more employees provides insurance coverage for you. These 7 months (3 months before, the month of, 3 months after your 65th BD) are known as your initial enrollment period (IEP). This is when to signup for Medicare if you do not have credible coverage from your employer.

[@janetmcnutt4994]

I don't think having both is too far fetched. It means when you do decide to retire, then you are already covered. That means if I wake up one morning and say I'm done, you are still covered with out your company health plan.

[@donnathompson8804]

I'm turning 66 in Sept 24. Can I make an appointment with The Medicare Family to see if it would be better to go ahead at switch to Medicare? I work for a large company and my premium is $361.72 month for my health insurance.

[@JeannineMcHugh]

Turn 65 in September when should I enroll

[@TheMedicareFamily]

June! Go to www.TheMedicareFamily.com under the RESOURCES tab you'll find my Medicare WORKSHOP to get you started!

[@Roksee]

I am 53 and have Medicare through a disability. If I go back to work part-time, do I lose my Medicare? Anybody know?

[@littlemikeism]

I'm even more confused. I'll be 65 tomorrow. I am self-employed (independent contractor-Realtor). I have great healthcare coverage via my spouse's employer. He's only 62 and will work at least three more years. Do I enroll or not? I talked to the local SS office. They told me there is not a penalty for not enrolling if I have coverage via my spouse's employer.

[@mtnBikr]

Be sure your spouse's employer has 20 or more employees. This is called credible coverage. If you have credible coverage through your spouse you wouldn't need to signup for Medicare Part B until the coverage ends. (his retirement?) You could decide to sign up for Part A or not, since there is no premium. But make sure you are not making HSA contributions in your name. (Unlikely since your husband has the insurance coverage)

[@littlemikeism]

@@mtnBikr Thank you. His employer has thousands of employees.