Hi all,
Just trying to get some input on a problem a friend of mine is having.
She retired early 5 years ago. She will soon be 65. She blissfully went down to the SS office to apply for her Medicare benefits; eagerly anticipating the $250 hike in her pension check. When Medicare becomes your primary, your insurance coverage goes down substantially. Her bliss quickly turns to horror when she was told that she is ineligible. But how can this be? Isn't everyone eligible when they turn 65?
They explained to her that any school (and some public) employees hired before 1985, did not have Medicare payments taken out of their pay. So you have nothing coming.
This alarmed me as I, too, started with the school system before 1985. Although I feel certain that I am able to pay for my own health care coverage, it would definitely put a damper on my level of comfort in my retirement. I called SS and was told that it was true what my friend said but since I am married, I can file under my husband.
My friend is not as lucky. She has never been married. She's distraught and bewildered. For whatever reason, she did not prepare well for retirement but did feel sure that her pension could cover her bills and never envisioned this stumbling block. She thinks she may be able to still get coverage from STRS but at an unaffordable rate that may be close to what Medicare would charge. She wonders if she can apply for Obamacare even though she gets a pension check.
She feels she will have to come out of retirement and find employment somewhere for 2 1/2 years to qualify for Medicare (she has 33 quarters). She now fears losing her home. I just don't how to advise her. Any thoughts or advise? If there is no known advice, I hope this can serve as a warning to others who started work for a school system before 1985 to make sure that you know what your Medicare status is.
It's hard to believe that our school system never said a word about this Medicare situation and left some vulnerable and perhaps even poverty stricken.
Just trying to get some input on a problem a friend of mine is having.
She retired early 5 years ago. She will soon be 65. She blissfully went down to the SS office to apply for her Medicare benefits; eagerly anticipating the $250 hike in her pension check. When Medicare becomes your primary, your insurance coverage goes down substantially. Her bliss quickly turns to horror when she was told that she is ineligible. But how can this be? Isn't everyone eligible when they turn 65?
They explained to her that any school (and some public) employees hired before 1985, did not have Medicare payments taken out of their pay. So you have nothing coming.
This alarmed me as I, too, started with the school system before 1985. Although I feel certain that I am able to pay for my own health care coverage, it would definitely put a damper on my level of comfort in my retirement. I called SS and was told that it was true what my friend said but since I am married, I can file under my husband.
My friend is not as lucky. She has never been married. She's distraught and bewildered. For whatever reason, she did not prepare well for retirement but did feel sure that her pension could cover her bills and never envisioned this stumbling block. She thinks she may be able to still get coverage from STRS but at an unaffordable rate that may be close to what Medicare would charge. She wonders if she can apply for Obamacare even though she gets a pension check.
She feels she will have to come out of retirement and find employment somewhere for 2 1/2 years to qualify for Medicare (she has 33 quarters). She now fears losing her home. I just don't how to advise her. Any thoughts or advise? If there is no known advice, I hope this can serve as a warning to others who started work for a school system before 1985 to make sure that you know what your Medicare status is.
It's hard to believe that our school system never said a word about this Medicare situation and left some vulnerable and perhaps even poverty stricken.