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DELAY MEDICARE UNTIL JAN. 1st?
Old 09-23-2016, 12:06 PM   #1
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DELAY MEDICARE UNTIL JAN. 1st?

In Oct. 2017 DW turns 65. Given that the ACA compliant plan premium we pay is significantly less than what the Medicare part B plus plan G supplement will cost, am I correct in my thinking that She should wait until Jan 1, 2018 since it is still in ?

Also, don't want a subsidy "surprise" if she went on medicare in Oct. and our income then throws me into a bind.

Am I overthinking this or on the right track?
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Old 09-23-2016, 12:25 PM   #2
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I suggest you read this, there is a penalty involved if you don't sign up
might somehow depend on circumstances. Looks like she might be inside that 7 month window.
Also it say if you are SS they will auto sign you up.

Old Mike
Turning 65? What You Need to Know about Signing up for Medicare | ElderLawAnswers
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Old 09-23-2016, 01:06 PM   #3
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She has a seven month window to sign up - 3 mos. prior to, the month of her birthday, the 3 mos. following so no problems there with an Oct. birthdate. Not on SS so not a factor either.
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Old 09-23-2016, 01:17 PM   #4
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I don't think you have a choice. Most insurance policies do not permit you to remain on a non-medicare type coverage once you are eligible for medicare. It's possible you could switch it to a medicare advantage or some sort of supplement, but they would require medicare to be primary.
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Old 09-23-2016, 01:26 PM   #5
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Thanks Miss Molly, that might be the real issue.
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Old 09-23-2016, 01:44 PM   #6
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Your DW no longer qualifies for an ACA exchange subsidy once she becomes Medicare eligible. Some people wait a few months (but less than 6 months) after enrolling in Medicare to start their Medigap and Part D coverage to save on premiums, but that is a personal decision.

Quote:
If you have a Marketplace plan, you can keep it until your Medicare coverage starts. Then you can end your Marketplace plan without penalty.
If you like, you can keep your Marketplace plan too. But once your Medicare Part A coverage starts, you’ll no longer be eligible for any premium tax credits or other cost savings you may be getting for your Marketplace plan.

Reference: https://www.healthcare.gov/medicare/...e-to-medicare/
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Old 09-23-2016, 01:56 PM   #7
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Thanks MSBC for the info! I just am hoping I don't get penalized on my plan side for the subsidies!
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Old 09-24-2016, 04:14 AM   #8
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Is it correct that at full retirement age when you get part A, you also get part B at the same date? just curious as my wife will be turning 65 next december.
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Old 09-24-2016, 04:43 AM   #9
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Originally Posted by wmc1000 View Post
Thanks MSBC for the info! I just am hoping I don't get penalized on my plan side for the subsidies!
You can use the calculator in the link below to see how the subsidy changes when only one person in the household has an exchange plan.

Health Insurance Marketplace Calculator | The Henry J. Kaiser Family Foundation

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Originally Posted by frank View Post
Is it correct that at full retirement age when you get part A, you also get part B at the same date? just curious as my wife will be turning 65 next december.
If she is already collecting SS at the time, she will automatically be enrolled in both Parts A and B at age 65.

If she is not employed with group coverage and not collecting SS at age 65, she will need to enroll in both Parts A and B.

If she is employed with a large company (20 or more employees) with group health coverage when she turns 65, the employer plan will be primary. She can enroll in Part A as secondary coverage and wait until she retires to enroll in premium based Part B, Medigap and Part D.

If she is employed with a small company with group health coverage when she turns 65, she will need to talk to the employer or plan administrator. The group plan may or may not become secondary requiring her to enroll in Parts A and B as primary coverage.
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Old 09-24-2016, 07:32 AM   #10
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As best as we can determine at this point, when DW goes on medicare in Nov of next year, any cost sharing benefits we derive from keeping our MAGI under 150% of FPL do not have to be paid back due to DW going on Medicare. The cost subsidy portion I am less certain of.
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Old 09-24-2016, 08:06 AM   #11
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Quote:
Originally Posted by wmc1000 View Post
As best as we can determine at this point, when DW goes on medicare in Nov of next year, any cost sharing benefits we derive from keeping our MAGI under 150% of FPL do not have to be paid back due to DW going on Medicare. The cost subsidy portion I am less certain of.
Yes, cost sharing benefits are not subject to reconciliation. Premium assistance is, but I would guess that a change in household size would affect assistance in subsequent months but not retroactively. It's important to report the change to the exchange.

Here's a tool from the IRS Taxpayer Advocate that estimates the impact to premium assistance from changes in circumstances Premium Tax Credit Change Estimator
And here's a link to an IRS page with a number of ACA estimator tools https://www.irs.gov/affordable-care-...stimator-tools
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Old 09-24-2016, 09:01 AM   #12
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Thanks Michael! 2 months premium impact won't be too bad.
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