Medicare for overseas retirees

[Dd852]

I know that Medicare doesn’t cover overseas but my question is somewhat different: we live in the UK and don’t have immediate plans to move back to the Us. But you never know! My wife is going to start taking SS this December. Her question is whether to sign up for Medicare part B even though she can’t see any immediate use for it simply to avoid penalties if we ever did move back. My view is “no” - pocket the savings and use that to cover the fees if we ever did go back. Are there other overseas retirees on the board who’ve made this decision? What did you decide? Thanks.

 

[theOAP]

I'm also retired in the UK.

The decision is very much dependant on individual future plans. I don't plan on returning to the US so elected not to take Part B. Future travel to the US would be infrequent, if at all. The cost of travel insurance does double if a US destination is included, but nonetheless, insurance would seem to be a long term less expensive option for those not intending to return to the US permanently.

As you point out, if you do not opt for Plan B and at a later date do return to the US permanently, the then cost of Plan B carries a penalty for each year you elected not to take it.

Never say never, so if I did end up permanently in the US sometime in the future it could be costly. Unfortunately, I seem to have misplaced my crystal ball.

 

[ncbill]

I helped a relative sign up for Medicare Part B spring of last year...because of limited finances they delayed signing up for over 5 years until they fell ill.

So it ended up more expensive, but paying the penalty is not the end of the world.

Just remember it doesn't take effect until July 1 even if you signup January 1.