Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Decison to not take Medicare at 65?
Old 03-12-2012, 04:45 PM   #1
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
easysurfer's Avatar
 
Join Date: Jun 2008
Posts: 7,896
Decison to not take Medicare at 65?

Read in the news that someone (I'll leave his name out as I don't want this thread considered a political thread) who just turned 65 opted insteda to not enroll in Medicare but keep his private insurance.

I didn't even know at 65 to turn down medicare is an option.
__________________

__________________
Have you ever seen a headstone with these words
"If only I had spent more time at work" ... from "Busy Man" sung by Billy Ray Cyrus
easysurfer is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 03-12-2012, 04:51 PM   #2
Moderator
Alan's Avatar
 
Join Date: Jul 2005
Location: Eee Bah Gum
Posts: 21,135
I think I heard that if you refuse Medicare, you also can't claim Social Security.

I'm pretty sure my ex-employer told me that by law they are not allowed to offer HI as the primary insurance once you hit 65. So, for me I've always assumed I'll be joining Medicare.
__________________

__________________
Retired in Jan, 2010 at 55, moved to England in May 2016
Now it's adventure before dementia
Alan is offline   Reply With Quote
Old 03-12-2012, 04:53 PM   #3
Moderator
MichaelB's Avatar
 
Join Date: Jan 2008
Location: Rocky Inlets
Posts: 24,490
Quote:
Originally Posted by Alan View Post
I think I heard that if you refuse Medicare, you also can't claim Social Security.

I'm pretty sure my ex-employer told me that by law they are not allowed to offer HI as the primary insurance once you hit 65. So, for me I've always assumed I'll be joining Medicare.
Correct. See here Judge Dismisses Suit Brought by Plaintiffs Seeking to Opt Out of Medicare - The BLT: The Blog of Legal Times

Quote:
U.S. District Judge Rosemary Collyer dismissed a suit brought by a group of men seeking to cease their Medicare Part A coverage. In an opinion [.pdf] issued today, Collyer wrote that while the plaintiffs, which include former House Majority Leader Dick Armey, had a point that they are caught in a bind the statute dictates that they can only opt out of Medicare Part A by forfeiting all of their Social Security retirement benefits the court did not find that the government is required to provide a different way out.
__________________
MichaelB is online now   Reply With Quote
Old 03-12-2012, 04:54 PM   #4
Moderator
Alan's Avatar
 
Join Date: Jul 2005
Location: Eee Bah Gum
Posts: 21,135
Can you decline Medicare if you take social security? - Lexology

Quote:
February 29 2012
The US Court of Appeals for the District of Columbia Circuit recently said no. A group of seniors, including former US House Majority Leader Dick Armey, had sued the federal government to be allowed to accept Social Security payments, but decline Medicare coverage. They preferred to keep their private coverage to being covered by Medicare. Unfortunately for them, the court concluded that the Social Security Act did not allow an individual to take Social Security payments without also accepting Medicare Part A coverage (although the individuals could not be forced to use the benefits). Eligible individuals can at times accept Medicare coverage without starting their Social Security benefits; the restriction runs in only one direction.
__________________
Retired in Jan, 2010 at 55, moved to England in May 2016
Now it's adventure before dementia
Alan is offline   Reply With Quote
Old 03-12-2012, 06:00 PM   #5
Recycles dryer sheets
 
Join Date: Feb 2011
Posts: 200
I think when you have a few billion in the bank you can do whatever you like...
__________________
PaddyMac is offline   Reply With Quote
Old 03-12-2012, 06:03 PM   #6
Recycles dryer sheets
 
Join Date: Mar 2006
Posts: 81
If you are working for an employer who provides coverage "equal to or better" than Medicare....you can stay on your employer's coverage until you quit/retire. At that time you are eligible for a special enrollment period. However, everybody should sign up for Part A when they turn 65 - and if you are working it becomes secondary to your employer's coverage. There is no charge for Part A. Part B is the part of Medicare that you will pay for once you enroll.
__________________
molly is offline   Reply With Quote
Old 03-12-2012, 06:09 PM   #7
Moderator Emeritus
Khan's Avatar
 
Join Date: Aug 2006
Location: Pine Island, Florida
Posts: 6,868
Send a message via AIM to Khan
My retiree health insurance requires me to sign up for Medicare at 65.
__________________
"Knowin' no one nowhere's gonna miss us when we're gone..."
Khan is offline   Reply With Quote
Old 03-12-2012, 06:10 PM   #8
Recycles dryer sheets
 
Join Date: Feb 2012
Posts: 442
Quote:
Originally Posted by molly View Post
If you are working for an employer who provides coverage "equal to or better" than Medicare....you can stay on your employer's coverage until you quit/retire. At that time you are eligible for a special enrollment period. However, everybody should sign up for Part A when they turn 65 - and if you are working it becomes secondary to your employer's coverage. There is no charge for Part A. Part B is the part of Medicare that you will pay for once you enroll.
This is the case. DH just turned 65 and continues on his employer's coverage...thank goodness as I'm also covered as his dependent. He signed up for Medicare part A which will be secondary to empl coverage. Not mandatory, but we thought when the heck. Once he retires, he has a special enrollment period to sign up for Part B. At that time, I will hook into my former employer's group coverage paying 100% of the premium until I turn 65.
__________________
TrvlBug is offline   Reply With Quote
Old 03-15-2012, 05:13 PM   #9
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
mickeyd's Avatar
 
Join Date: Apr 2004
Location: South Texas~29N/98W
Posts: 5,884
Prior to age 65 I was covered by Tricare. When I hit 65 the military required me to enroll in Medicare and they gave me Tricare For Life for free! Oops! They will now be charging me for that free benefit in the future and I still get to pay Medicare premium. What a country...
__________________
Part-Owner of Texas

Outside of a dog, a book is man's best friend. Inside of a dog, it's too dark to read. Groucho Marx

In dire need of: faster horses, younger woman, older whiskey, more money.
mickeyd is offline   Reply With Quote
Old 03-15-2012, 05:39 PM   #10
Thinks s/he gets paid by the post
packrat44's Avatar
 
Join Date: Jun 2007
Location: near Canadian border and near Mexican border
Posts: 1,142
Once you hit 65 you are automatically covered by Medicare Part A (hospitalization) at no additional out-off pocket expense. When most people say they are signing up for Medicare they are referring to Medicare Part B (medical). This does require a premium to be paid and is optional. However, if you are not covered by another approved insurance plan, you will be required to pay an increased premium if you choose later to start Medicare Part B. There will be an additional 10% charged for EACH 12 month period that you were not covered by Medicare Part B and were not covered by another approved insurance plan. (This penalty goes on for the rest of your life.) Being Category 1 and having all medical covered by the VA at no out of pocket expense, does not classify as having an approved insurance plan. Tricare for Life requires you to pay the Part B premium for it to be in effect.
__________________
Pigs get fat, hogs get slaughtered. That's my story and I am sticking to it.
packrat44 is offline   Reply With Quote
Old 03-15-2012, 05:42 PM   #11
Recycles dryer sheets
justplainbll's Avatar
 
Join Date: Sep 2011
Location: Easten Long Island
Posts: 414
Quote:
Originally Posted by Khan View Post
My retiree health insurance requires me to sign up for Medicare at 65.
+ 1
__________________
justplainbll is offline   Reply With Quote
Old 03-15-2012, 06:37 PM   #12
Thinks s/he gets paid by the post
seraphim's Avatar
 
Join Date: Mar 2012
Posts: 1,492
Quote:
. Once you hit 65 you are automatically covered by Medicare Part A (hospitalization) at no additional out-off pocket expense.
Are you sure about this? I was under the impression Medicare A was free if you paid for it during your working years. I've never had money withdrawn for Medicare, and was under the impression I'd have to pay the premium for it.

I've also been led to believe most insurance companies will require you to enroll, because it lowers their out put of payments on claims.
__________________
"Growing old is no excuse for growing up."
seraphim is offline   Reply With Quote
Old 03-15-2012, 06:44 PM   #13
Moderator
MichaelB's Avatar
 
Join Date: Jan 2008
Location: Rocky Inlets
Posts: 24,490
Quote:
Originally Posted by seraphim View Post
Are you sure about this? I was under the impression Medicare A was free if you paid for it during your working years. I've never had money withdrawn for Medicare, and was under the impression I'd have to pay the premium for it.

I've also been led to believe most insurance companies will require you to enroll, because it lowers their out put of payments on claims.
It is no charge if you are eligible for social security.
__________________
MichaelB is online now   Reply With Quote
Old 03-15-2012, 06:46 PM   #14
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
REWahoo's Avatar
 
Join Date: Jun 2002
Location: Texas Hill Country
Posts: 42,136
Medicare Part A is hospital insurance. Enrollment is 'automatic' once you turn 65 and there is no additional premium for the insurance.

Medicare Part B is is medical insurance. It is intended to help pay doctor bills for treatment in or out of the hospital. It also covers many other medical expenses you incur when you are not in the hospital, such as the costs of necessary medical equipment and tests. Enrollment in part B is optional, you must enroll if you want it, and currently costs ~$100/mo - more if you your income is above a specified level.
__________________
Numbers is hard

When I hit 70, it hit back

Retired in 2005 at age 58, no pension
REWahoo is offline   Reply With Quote
Old 03-15-2012, 07:00 PM   #15
Full time employment: Posting here.
 
Join Date: Dec 2010
Posts: 746
Quote:
Originally Posted by Khan View Post
My retiree health insurance requires me to sign up for Medicare at 65.
+2
__________________
East Texas is offline   Reply With Quote
Old 03-15-2012, 07:30 PM   #16
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Chuckanut's Avatar
 
Join Date: Aug 2011
Location: West of the Mississippi
Posts: 6,337
Several years ago, a lady I know who decided to work past 65 decided to not enroll in medicare since her work insurance covered her. Except..... the work insurance made it clear that when an employee hit 65 they were enrolled in a medicare supplement plane which assumed they had medicare coverage. She only found this out when she had to pay for most of her cataract surgery. Thankfully, it was not as bad as it could have been.
__________________
The worst decisions are usually made in times of anger and impatience.
Chuckanut is offline   Reply With Quote
Old 03-15-2012, 08:10 PM   #17
Thinks s/he gets paid by the post
 
Join Date: Mar 2010
Location: Kerrville,Tx
Posts: 2,726
Quote:
Originally Posted by seraphim View Post
Are you sure about this? I was under the impression Medicare A was free if you paid for it during your working years. I've never had money withdrawn for Medicare, and was under the impression I'd have to pay the premium for it.

I've also been led to believe most insurance companies will require you to enroll, because it lowers their out put of payments on claims.
Did you pay fica or did you work for a state or local government? If you paid fica a part of it pays for part a.
__________________
meierlde is online now   Reply With Quote
Old 03-15-2012, 09:50 PM   #18
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
haha's Avatar
 
Join Date: Apr 2003
Location: Hooverville
Posts: 22,386
If one is not covered for Pt A, it is quite expensive out of pocket.

Ha
__________________
"As a general rule, the more dangerous or inappropriate a conversation, the more interesting it is."-Scott Adams
haha is offline   Reply With Quote
Old 03-15-2012, 10:12 PM   #19
Recycles dryer sheets
 
Join Date: Feb 2012
Posts: 442
The info I received from SS wrt to enrollment in Medicare Part A is that DH had to sign up. Given that he had employer provided medical insurance, we were told that he could sign up now that he's turned 65 and have Medicare be secondary insurance or sign up for both Part A and B once he retires. Part A coverage was NOT 'automatic.'
__________________
TrvlBug is offline   Reply With Quote
Old 03-15-2012, 10:50 PM   #20
Full time employment: Posting here.
 
Join Date: Jun 2006
Posts: 926
Now my head is spinning. I am going to ignore this issue for now and relook at it when I turn 65 in 2017.
__________________

__________________
CW4, USA-(ret)
RN, BSN-(ret)
jclarksnakes is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
31 year old, married with two young kids, looking to FIRE in 5 years alexbalex Hi, I am... 52 03-19-2012 03:17 PM
Another Look at SWR, Near Worst Case Midpack FIRE and Money 69 03-13-2012 08:29 PM
Questions relating to check fraud. David1961 Other topics 5 03-13-2012 10:02 AM
Hello! Heading to the"Promise" land! GSMAN Hi, I am... 6 03-11-2012 09:03 PM

 

 
All times are GMT -6. The time now is 08:10 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.