Transitioning from Private Insurance to Medicare

[HadEnuff]

My birthday is in mid-September. I will want to take advantage of the 90 day Medigap window for pre-existing conditions.

So what will happen? Can I sign up for everything in September but not start until December?

I guess DW and I would want to have individual private policies going into the year?

How is the transition normally handled?

 

[Ian S]

So you turn 65 in September 2017? If so, I don't know why you'd want to stay on an individual plan any longer than necessary. Medicare will almost certainly save you money. However, assuming your DW is still under 65, she will continue on an individual policy. You might want to consult an experienced Medicare specialist: typically they don't charge you for the service. If your individual policy is through the exchange, you will have to cancel it yourself but make sure you're properly signed up for Medicare before you do so. There are a lot of Medicare options and timing and what you choose can be critical going forward so you should start reading up now so you will be best educated on the subject.

With all the uncertainty of what may happen with regard to Medicare, I think it's wise to sign up as soon as you are eligible and make your plan selection under the assumption that, in the future, it may be hard to change your choice once you make it.

 

[HadEnuff]

thanks for the response. I actually don't turn 65 until Sept. 2018, just trying to think ahead.

 

[Gotadimple]

Spend a little time on the Medicare.gov website. Be aware that delaying sign-up can increase your premiums. If you are thinking you would delay Social Security, then you need to consider how you will pay the Medicare premiums - then it's best to make an appointment with your local Social Security office to ask questions. Once you get to an employee they have plenty of info to share.

So you can start at the Social Security website, then go over to Medicare.gov.

 

[rodi]

We just went through this. DH turns 65 this coming January. He signed up last month for parts a/b/d/f+. You can start the signup process 90 days before the start of the month you turn 65 - and up to 90 days after the end of the month you turn 65... so the window is 7 months.

But, as was mentioned before, why would you wait? It's almost certain to be cheaper. We're spending less for DH's gold plated plan than we were for his bronze hdhp with hsa... $200 less per month for a policy that has no network, and way less OOPs

 

[Walt34]

If you are thinking you would delay Social Security, then you need to consider how you will pay the Medicare premiums

Simple. They will send you a bill, which you can pay by check, credit card, debit card, or set up an autopayment. I didn't do the last one because I was only going to pay for a year and the bill is sent quarterly. BTW, if you have a HSA account you can pay Medicare payments with that.

 

[HadEnuff]

I am already taking my SS. And if the ACA is still viable next year, on anything like this year's terms, with the subsidy it's almost free to me, which is why I might want to wait, if that's an option.

 

[braumeister]

Simple. They will send you a bill, which you can pay by check, credit card, debit card, or set up an autopayment. I didn't do the last one because I was only going to pay for a year and the bill is sent quarterly.

I did the autopay (Medicare calls it Easy Pay) and it's a monthly deduction from your bank account. It was very smooth.

 

[braumeister]

Also, the key factor here, I think, is that if you don't sign up for Medicare Part B within three months of turning 65, you'll pay a late-enrollment penalty of 10% per delayed year for the rest of your life.

 

[Walt34]

I am already taking my SS. And if the ACA is still viable next year, on anything like this year's terms, with the subsidy it's almost free to me, which is why I might want to wait, if that's an option.

Since you're already taking SS the Medicare payments will be deducted automatically from SS when you start Medicare. Just be sure to start Medicare no later than age 65 or you'll be paying a penalty for the rest of your life.

 

[MichaelB]

Transitioning DW into Medicare has been a bit more challenging for us than for other forum members. This is probably because she was not born in the US and has no work record of her own, so we've needed multiple contacts with SS people, including a visit to the local office, and had to spend a fair amount of time just proving we are married and she is a citizen. Little things, like not having her SS card, were irritants that had to be addressed.

The suggestion to get the process going 3 months before the 65th b'day is very good advice.

 

[MBSC]

I am already taking my SS. And if the ACA is still viable next year, on anything like this year's terms, with the subsidy it's almost free to me, which is why I might want to wait, if that's an option.

Since you are already receiving SS you will automatically be enrolled in Medicare Parts A & B.

I'm already getting benefits from Social Security:

You'll automatically get Part A and Part B starting the first day of the month you turn 65. If your birthday is on the first day of the month, Part A and Part B will start the first day of the prior month. If you're automatically enrolled, you'll get your red, white, and blue Medicare card in the mail 3 months before your 65th birthday.

Reference: https://www.medicare.gov/sign-up-ch...n-up-for-part-a-and-part-b.html#collapse-3098

If you’re already getting Social Security benefits or railroad retirement checks, we’ll send you information a few months before you become eligible for Medicare. If you live in one of the 50 states, Washington, D.C., the Northern Mariana Islands, Guam, American Samoa, or the U.S. Virgin Islands, we’ll automatically enroll you in Medicare Parts A and B. However, because you must pay a premium for Part B coverage, you can choose to turn it down.

Reference (Pages 10-11): https://www.ssa.gov/pubs/EN-05-10043.pdf

You do not qualify for exchange subsidies once you qualify for Medicare. You will need to terminate the exchange plan at the appropriate time, it is not automatic.

If you have a Marketplace plan, you can keep it until your Medicare coverage starts. Then you can end your Marketplace plan without penalty.

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/changing-from-marketplace-to-medicare/

 

[W2R]

I did the autopay (Medicare calls it Easy Pay) and it's a monthly deduction from your bank account. It was very smooth.

+1

I did the same, and it worked very nicely. When I started getting divorced spousal SS, they didn't stop the monthly deduction from my bank account quite fast enough so I double paid one month. But they refunded my extra payment promptly.

 

[meierlde]

I am already taking my SS. And if the ACA is still viable next year, on anything like this year's terms, with the subsidy it's almost free to me, which is why I might want to wait, if that's an option.

Not an option your ACA policy expires on the first of the month when you turn 65 (except if born on the first when it is a month earlier). Note of course with Medicare you have a much wider network, something like 90%+ of physicians take medicare, etc.

 

[HadEnuff]

Since you are already receiving SS you will automatically be enrolled in Medicare Parts A & B.

You do not qualify for exchange subsidies once you qualify for Medicare. You will need to terminate the exchange plan at the appropriate time, it is not automatic.

Ahhh....I did not know that. Good information for me to have,
thanks.

 

[reubenray]

Ahhh....I did not know that. Good information for me to have,
thanks.

Be prepared for a long phone call when you do this. I tried to do it online, but it would not work.l