Working past 65? Avoid these HUGE Medicare mistakes.
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- Опубликовано: 29 сен 2024
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Please call my office for free, unbiased assistance. We would love the opportunity to help you if we can! #medicare #medicaresupplement #medicareadvantage #medigap #turning65
My wife is already panicking, so many questions! will the rate cut lead to inflation? I'm very worried about my $1million stock portfolio losing value. Do i move to 100% cash? What strategies should I be employing in my portfolio right now?
This is the what people that handle their portfolio themselves go through. I will advice you get yourself some professional advisor to help you redistribute assets in your portfolio.
I've been through the 'bonds are beating stocks' periods since the 90s with no bonds and with all aggressive stock mutual funds.
At 66, my IRA and cash accounts are far more than I expected for my retirement. I can easily handle a worst-case stock crash, Thanks to my advisor.
How can I reach this adviser of yours? because I'm seeking for a more effective investment approach on my savings
I have worked with a few financial advisors before now but i ultimately settled for Annette Marie Holt. She is SEC regulated and licensed in US. You can easily look her up
I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an email shortly.
Amazing content! I have been following your videos for sometime now, consistently kicking down Wall Street doors for two years now, I have over $320k in stocks. Currently, my portfolio is down by 15%. Wondering if they're any short term opportunities I can invest in
Glad to have stumbled on this comment, Please who is the consultant that assist you and if you don't mind, how do I get in touch with them?
She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing
Crash fatigue is showing with most people. Most are so tired of hearing about the worse even though its true. We are being boiled slowly in the pot! I want to diversify my $80k portfolio.
I completely agree. It's not just about the dividends or profits, Diversifying a portfolio can be a smart move and i always advise one gets a professional to help out.
The issue is most people have the “I want to do it myself mentality” but not equipped for a crash that comes afterwards. Ideally, advisors are perfect reps for investing jobs and at first-hand experience, my portfolio has yielded over 300%, summing up nearly $1m, since covid outbreak to date
That's impressive! I could really use the expertise of this advisors because my portfolio has been down bad. Who is the person guiding you please?
‘’Aileen Gertrude Tippy’’ is the licensed advisor I use. Just search the name. You’d find her webpage and necessary details to work with to set up an appointment.
Thank you for the recommendation. I'll send her an email, and I hope I'm able to reach her.
Employers should be required to provide an annual letter for all employees aged 64+ certifying creditable coversge since x date.
They are!
As someone turning 65 next month this type of information is very helpful. The way they have set everything up could not be more confusing and inefficient.
Agreed! Glad this was helpful.
They do that on purpose, that’s how they use their excuses on how you get penalized later on.
That's cause there forcing people on this cause they want your money
It's the government. They are here to help us. Still want universal care? The only way you fix this is to completely destroy healthcare in America. We're talking about all of the "health" insurance companies. Millions of workers. Then the government gets involved (tripling Medicare staff) and now you have no one to sure when they f up. It's ridiculous.
My dad is a Spanish speaker and I am first gen. When he retired the meeting was over the phone and the rep did not explain any of this at all. Which lead to him canceling his work insurance thinking we had part A and B and now he has the 10 % penalty. Why is this all so dang complicated. The rep at the SSn office literally said to our face well that is your fault for not knowing. MAAM IT IS YOUR JOB. I was ferious to say the least.
That sounds SO frustrating
...and yet, if you took out a huge college loan that you can't, or don't want to pay back, the Govmint is itching to forgive it. Vote like your life depends on it... not based on false, bed-wetting narratives.
Thank you, Stephanie. I'll need to study your video like a very intensive college class.
Thank you so much for explaining these crazy Medicare rules and regulations in such a easy to understand manner.
Joyful Day Stephanie! You are AMAZING!!! I"m new to Medicare. Glad you shared this information. I didn't know about the HSA portion. Thank you kindly!!!
You’re welcome!
I don't comment much but you do an awesome job in your videos. 65 still working, BCBS insurance, not drawing any social security yet, not signed up for anything yet. I actually did not know I could go on the web site and sign up for part A and decline part B for now. I also did not know that the insurance company for a part D plan would need proof of insurance to avoid a penalty. I do have a question about pricing, or do you have a video on it. Curious as to which is better "Attained Pricing" or "Community Pricing" Thank You so much for what you do!
I have a video about that from a couple years ago (still accurate), but am working on a new video too! Here is the existing video on that topic -- ruclips.net/video/txvHBbH2Nas/видео.htmlsi=N5HV0FGj1Qe38V45
There all “attained age pricing” were I live
Wow, thank you so much for the videos that you post ! They are VERY informative and easy to understand. You have single handedly made the Medicare sign up process pain free. lol
You're very welcome! ☺️
Your videos are clear and concise.
Thank you!
I’ve decided, this is the best explanation of when to sign up for Medicare on RUclips.
Thanks!
Wow, thank you! 😀
Thank you so much Stephanie. Great information and saving this video for when I retire in Nov 2025.
Excellent video. It is so confusing working past 65 because everyone warns of the penalties. This is clear, easy to understand, and answered all my questions. I am finally comfortable I made the right decisions by not enrolling just yet.
Slightly different but related. When I do finally start part g, I will be a couple years older, 67, and therefore the startup will be higher than if I had started at 65. Can you drop employer insurance all together at their enrollment and then switch to ABDG while working one or 2 more years?
Thank you, Stephanie. Last September I turned 65, had no idea where to start, and your videos helped me a lot. I don't collect social security yet, have health insurance from my wife's employer and applied for Medicare part "A" only. When my wife retires we both will need help to make a wise decision. My guess is that you can help with that regardless of the state we live in. Is it correct?
Yes! We can help.
Great Video. You must have Medicare creatable employer's insurance (In the Month of your 65 BIRTHDAY) . (Not) the first of the following Month.
This is the best explanation I have had, clarity is everything
Thank you!
The US healthcare system is so messed up. I would rather have a national healthcare system like Norway. We will pay for this one way or another. I would rather pay in the form of taxes throughout my life than have to pay for it post-retirement (when money will be tight).
I’m 68, still working, and not on SS. I am working as long as i possibly can!
Just remember, no one living today knows how long they have until the Grim Reaper shows up and says
" Please come with me ".
Remember, to get out and enjoy the rest of your time on this blue marble!!
I'd draw now and save it every month. Invest or whatever. That's what I'm going to do
Agreed. I am a 1963 model. I plan on working until 70. I enjoy what I do, get Healthcare, 401k match and can retire at 67. Save 36 months of SS checks on top of a decade of maxing my Roth. Then, I rest. Work and plan to live long, not die early. Peace and good health to all.
@@Rocinante1963
You may not plan on passing away early, but one never knows......
I've had countless classmates, friends, relatives, pass before their time. Most were pretty healthy!!.
And here's the catch, not a single one of them said boy, " wish I would have worked longer " as they were passing away.
Please, don't take this wrong, as I can't say what is best for you. Just saying sit back and give I some serious thought. Remember, we are only here once and there's no coming back.
You're crazy to do this because if something happens to you, you lose everything that you would have collected. You're leaving money on the table!
Thank you for your life saver video and I’m sure it will be useful when I want to apply ❤️👍
Great information. Unfortunately I have to advise most retirees to not get on a med advantage plan due to restrictions. You give up so much flexibility. Additionally it is a nightmare near impossible to get off of the plan afterwards.
I am 66 years old and I plan on taking my Social Security in seven months at my full retirement age. I currently only have part A. If Medicare and supplements are cheaper than what I am currently paying is there any reason not to go on Medicare? I fine you videos are very helpful, Ed
Thank you! I might be giving you a call soon.
Thankyou! New subscriber here, and checking out your other videos. 👍
😊
Good Morning, I am a retire cop from NYC and I have pretty good coverage with my RETIRED plan, which cost me nothing. Can I delay and use my current plan, or should I enroll and my plan becomes my new Part B? Thanks, John
Will be 65 in October planning on Applying for Medicare but I’m so lost about these different plans, cost, penalties that IDK what to do. Is there anyway for me to set up an appointment ? In desperate need of an advice.
Thank You
I work for the federal government and my only insurance is tricare for life. I'm planning to work until 67 (I'm 63 now). Do I have to sign for medicare part A and B when I turn 65 since I'm not planning to apply for my SS until 67?
Why the rules are so confusing? For government to take advantage of seniors.
Through my employer my wife and I have Anthem Blue Cross BlueShield; however my 69 year-old wife also has 'Wellcare' since she retired a few years ago. Please tell me the advantages of her having both insurances?
Medicare only a pays 80% BCBS will pick up the rest
What disturbs me is that I’ve paid thousands of dollars over 40 years into this scam and now I’m forced to join and pay even more at some bureaucratic scale!
Correct!!! absolutely horrible, and to be penalized for the remainder of your life if you don't comply...
What do you do if you are age 64, have the affordable health care act insurance and have modest early retirement benefits and want to wait for full social security benefits. It sounds like to avoid medicare penalties, you have to enroll in medicare A, B and D (lose the affordable care act subsidy) and pay the monthly medicare premium out of pocket until age 67. I would love to see a video on how to navigate that scenario.
Excellent idea for a video!
I signed up for A and covered by employer with Kaiser. The SEIU union has a great plan. I collect social security and 69. When I turn 70 and still working, does anything change?
Hi Stephanie. I am 65 and retired and currently on Medicare A/B with a supplement. If I go back to work in the future and the employer offers a health insurance plan, do I have the ability to temporarily suspend my Medicare coverage? Or is there no going back? I'm in Connecticut if that makes any difference. Thank you !
Yes, you can contact social security to cancel your Part B benefits and then re-enroll later on!
@@AbtInsuranceAgencythe question is if you have to go through underwriting to get an N Medigap plan if you do that when you go back to Medicare.
I retired at age 62, and now I just turn 65 and I’m on Medicare. But I have decided to go back to work. How will this affect my Medicare. And should I try to denied my work insurance and just keep my Medicare. Or keep both work and Medicare. I just have part A & B. I also have a good supplement insurance that covers what Medicare doesn’t pay.
You will want to factor in your potential employer health plan, its premium and benefits and how that compares to Medicare. This video can help-ruclips.net/video/vyMHyBs2c-4/видео.htmlsi=jqs_yxMfRfty41Xr
Is an HRA considered the same as a HSA by the government?
It makes no sense to me why they penalize people for late enrollment, unless it is just a way to get people to give them money.
So, I understand that there is no downside to signing up for Medicare Part A at age 65, even if one is still working. Correct?
As long as you don’t contribute to an HSA that’s correct!
Why we don't question why we have to pay taxes. After retaining
$174 a month is cheaper that most insurance plan with out deductibles The thing to do is get Part B and a supplement for you 20% copay and a part D for drugs . Look at both options and see which would be better for you. Avoid Medicare Advantage plans
Very helpful info - Thank you!
Thank you for all you do Stepahanie...:)
I was wondering if you enroll in Part A, B & D at 65 while delaying your SS, do you get a bill from Medicare on the Part B & D monthly dues (upon turning 65 before Social Security at 67 or 70)?
That's correct - Medicare sends you a quarterly bill for your Part B premium. You pay for Part D directly through the Part D insurance company.
BRIEF BLOG: I AM ALREADY RETIRED FROM THE US FEDERAL GOVT AS OF JANUARY 2018. I RETIRED W/30 YEARS & 5 MONTHS OF SERVICE. IF ANYONE CAN SHEDLIGHT ON WHEN I CAN APPLY FOR MEDICARE A/B THIS 2024 YEAR(MAYBE IN AUGUST) PLEASE LET ME KNOW. I WILL BE 65 ON NOV 9TH OF THIS YEAR.
I am turning 65 next year, already retired and have medical insurance (and prescription drug coverage) for free through my past employer. Do I still need to purchase Medicare part B or D?
Yes. “Retiree” coverage doesn’t count as creditable to delay Part B. Only active employer coverage.
I’m being overwhelmed by snail mail from insurance companies that want to sell me Advantage Plans, which I would avoid at all costs. I did not ask for all this crap and I don’t want it in my mailbox. I’m planning to work past 65 because I work for a public school. i’ve done my research and I know what I want. Don’t send me any of this snail mail crap.
Our retirement age is 70
Soon no one will have to worry about this Medicare & social security will be gone...work or starve like many other countries
My original plan was to retire at 62, work part-time, and save diligently. However, rising costs and concerns about Medicare coverage have thrown a wrench in those plans. I'm also wondering if those who faced the 2008 financial crisis had it easier compared to what I'm going through now. With the stock market's volatility and my decreasing income, I'm worried about having enough savings for retirement. The added uncertainty about Medicare and health care expenses makes it even harder, especially since I can't contribute as much to my retirement funds as I used to.
I’m 77 and still working full time. I do enjoy my work, it provides me with purpose and has secured my financial future. Most people are too eager to retire as early as possible. Even if you do retire early, best to get a part time job for the reasons cited above, as well as following many if not all of the suggestions in this video.
Accurate asset allocation is crucial. Some use hedging or defensive assets in their portfolio for market downturns. Seeking financial advice is vital. This approach has kept me financially secure for over five years, with a return on investment of nearly $1 million.
How can I participate in this? I sincerely aspire to establish a secure financlal future and am eager to participate. Who is the driving force behind your success?
Finding financial advisors like "Rebecca Nassar Dunne who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
I just googled her and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get. I just scheduled a caII.
The concept of mini-retirement changed my life. I'm no longer waiting for some retirement paradise when I'm 65. It helps to know how to fund the lifestyle. You know, making money while you sip that piña colada by the beach does help. I wouldn't have been able to do it otherwise.
Yeah, people miss that part. You don't jet out to Puerto Rico with your life savings. Proper investing and a good business acumen are big pluses. Invest in the stock market, real estate, build businesses. That's just it.
Safe to say not everybody has the skill to pursue investing. But it's always easy to follow the advice of someone who knows how to i.e a financial advisor. You could anywhere between 10--40k with the right ones. Online businesses are a good bet too if you are savvy.
Your advisor must be really good. How I can get in touch? My retirement portfolio's decline is a concern, and I could use some guidance.
Vivian Jean Wilhelm is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
Thank you. I just checked her out on the web browser, She seems really proficient. I'll follow up with an email. Thanks for the lead.
My plan has been to be frugal with my savings and delay Social Security benefits until I'm 70. I had a $400k retirement portfolio, but a Medivac event depleted a lot of that money. Sometimes I wonder how things might be different if I'd managed to save more
I'm almost ready to retire, and having a financial advisor has been incredibly beneficial. Since I started investing much later in life, I couldn't rely solely on compound interest from index funds. I've managed to earn more than some long-term investors. I'll be retiring with at least $6 million
Your financial advisor must be excellent. How can I get in touch with them? I'm worried about my retirement portfolio and could really use some guidance
I usually avoid giving specific recommendations since everyone's situation is unique. However, having worked closely with Emily Ava Milligan for years, I can attest to her great service. You might want to see if she meets your criteria
I looked up her name online and found her page. I emailed and made enquiries. Thanks for the help
Why does the Fed make EVERYTHING so damned complicated???
So they can screw you over
Totally agree.... I believe they do that on purpose
I am agre with you 1000% procent. To me it's money from insurance companies make do it.And let old retiree figure out..When Fed in clear connection with Med .insurance company plus pharmaceutical companies. They are so happy we are not.Fisherman always said better fishing in muddy water .
Fools… just leave the USA permanently, and live in a civilized country that has universal healthcare . I became a USA expat 19 years ago, the best decision of my life 🫵
Because insurance companies are bribing politicians to make it that way. If they could get congress to eliminate Medicare, they would.
What pisses me off is… Idid not sign up for prescription drug plan when I signed up for Medicare at age 65 because I wasn’t taking any drugs. Later Iwas convinced to take the part D coverage. Then I find out I will have to pay a monthly penalty amount of $18.00 for the rest of my life to the drug companies because I did not enroll in part D when I signed up for Medicare. (I am now 82 years old, in good health, and still do not take prescription drugs). It’s a rip-off.
I worked pass 65 and enrolled Medicare part A only but not part B and part D, because I have insurance covered doctors visiting and drugs. Will I get late penalty of Medicare part B and D when I am ready to retire and enroll for benefits? Thanks
Why didn't you know that? You've got to research and find out those things. That was in the first mailing I got about Medicare. Also, if you're in good health, you should take Medicare Advantage, which includes a drug plan.
People go talk to a medicare agent. ITS FREE.
I agree, the penalty is a rip off
Either you did not do your own research or you got bad advise or failed to listen to good advise. It is not a rip off, it's consequences.
I’m curious, are most people you know working past age 65? Or not?
I turn 65 in May and I will continue to work until 67. All of this is so confusing to me. LOL Are you licensed in NC?
Yes @@dawg7750 !
I'll turn 69 this year. Still working. Go retired next year, on my 70th birthday.
I am a retiree already on Medicare. When I saw that this video was available, I wanted to take a look. And I want to say, this is one of the best videos I've seen for those not yet on Medicare. The speaker, Stephanie, is very well spoken on the matter. She speaks clearly on what you need to know but does not confuse you with more info than you need or with casual comments. (If this were available back when I was applying, it would have been an excellent resource).
Thank you so much for taking the time to leave this kind comment!
So are you happy with your coverage??
Seniors get cheated always! Government NEVER says tips like rhis! Seniors get LESS than the best!!
I’m a federal retiree since 2015 at age 62 and still have my federal Blue Cross Blue Shield health insurance through retirement benefits from the government and also has Medicare A and B. Medicare B will pay first and my federal Blue Cross Blue Shield will pay the rest and I have no copayments. Federal Blue Cross Blue Shield will reimburse me $800 each year for my Medicare B premiums.
Thank you! 65 1959/March and still working….
Why the penalty if you don’t enroll in some parts? Seems like a huge ripoff!
It IS a huge rip off...
I am still working for a large company but chose to sign up for traditional Medicare during open enrollment as I get much better coverage than my 80/20 employer PPO plan for the same price. I don’t have the health insurance deduction pre-tax so while I did see an increase in my paycheck, I am also paying a slightly higher amount in tax.
Wow, what an informative video! Thank you so much for taking the time to make this. I am 62 and do not plan to retire any time soon. This helps me not to worry about my medical enrollment until I am ready thank you again. Excellent video.
Why in god’s name are people penalized for signing up later for Medicare? So much for “land of the free”
Totally agree... government wants that premium money!
you are not penalized if you have insurance already - not sure what land of free has to do with health insurance
I signed up for part A when I turned 65 but am still working with great benefits so waiting to get part B until I retire in a couple more years. The biggest thing that ticks me off is why older folks have to pay for Medicare in any form.
It's a tax on turning 65, plain and simple, and another way to claw back money from people's social security.
Because old people are more likely to have health problems. We got to pay less while young people pay a lot. Why you got a problem with that? Are you suggesting Elon Musk and his buddies pay a few billion more in taxes (a tiny fraction of a percentage of what everyone else pays) so we can avoid paying for Medicare? Hell yes!
Ask me "why older folks have to pay for Medicare in any form" after you stop voting Republican.
@@misterguts Someone's got to pay for it. Who do you imagine it should be?
It was Democrats who set up Medicare as a partially taxpayer funded program, and it was designed to cover half.
If you want it to be _free_ , you'd have to commit to paying at least double what you paid during your working career.
@@teekay_1You paid for it your whole working career, so now you are paying again, why?
You seem to know more than the actual ppl at Medicare. We called 5 different times. Spoke to 5 different ppl. 5 different answers! 😡
Thank you, this helped a lot. I just turned 65, I don’t plan to apply for SSI or apply for Medicare. I work for a health care clinic and they offer very low cost health care coverage to their employees.
be sure send certified snail mail usps, you opt out all ssi and medicare.
That’s amazing! I worked in health care for decades and none of the hospitals or clinics offered health care to their employees after retirement!
Just some clarification on medicare parts A & B. If you begin drawing social security even if you continue working you will automatically be enrolled in part A. You don't pay for part A so no big deal. I started drawing SS when I reached FRA (full retirement age) at 66 1/2 and I continued working full time. Because I have credible health insurance coverage through my employer with benefits and a premium that's competitive with and in most instances much better than either Medigap or Medicare Advantage plans available under Part B, I opted to defer enrollment into part B of medicare. Furthermore my insurance through my employer is primary over Medicare B coverage anyway and covers everything I need so no sense paying for extra insurance I would never use or need as long as I have credible coverage.
You just need to do your research and decide what's best for your circumstance.
I was wondering about that automatic enrollment into Medicare Part A. Why is that? And, why was it assigned an effective of 6 months earlier that the first Social Security check??
Thank you. You help answer the big question. I have had a lot of people tell me I still have to register for Medicare A & B even though I am working and have health insurance.
I took Medicare Part A when I turned 65 but not Part B because still working for employer with more than 20 employees. I am planning on retiring this year so the timing of presenting to the Social security office proof that I have been on continuous coverage since 65 is useful. I agree how complicated they’ve made it. Unfortunately our American health care system is profit driven.
Do what I did. Sign up for Medicare and a supplement ( or an advantage plan..whichever works fir you ) then Get off the company plan and get the employer
Reimburse your costs monthly. It will be cheaper for them so they should agree. I worked at two different companies after I got on Medicare & supplement and both did that as well.
Thank you for sharing this information. I will ask my employer what you did it.😊
@@cc-mq9xk Ask in advance and check your drugs plans. If you don't get one you will pay penalties. Make sure first all your Rx covered by employer are covered at a reasonable cost. Some employers will kick you off their coverage and won't let you back. Forewarned
Thank you! Excellent, clear explanation about a confusing subject.
Without a doubt! I previously spent 4-5 hours reading the Govt Medicare Handbook, Social Security website, and various mailed flyers, still feeling uneasy as to the answers to my questions, but in this 14 minute video got all of my questions and concerns answered and addressed with full confidence! Thank you Stephanie!
I was working with an employer but I covered by my wife’s insurance where she worked. It got so expensive like about $600 a month at 66 I signed up for A & B and a G Plan as well and saved $300 a month switching to Medicare for myself. I worked till 69 to get the most money of SS. I was not penalized for anything! It was best decision for us.
Thank you so much, Stephanie. This was the clearest, most concise explanation of Medicare enrollment for those of us working past the age of 65 I've seen.
Thanks so much for watching!
People are not choosing to work past 65, the economy is giving them no choice.
Employer subsidized Health Care is the biggest reason that I'm still working at 68 yo
@@bernadettesandoval3990 totally!
Thank you for this information. I just turned 66. I work part time because I dont get enough social security benefits to cover living expenses. I am single and even tho Ive worked since age 16, wages were much lower back in the 70s and 80s. I waitressed, so official pay was low. Medicare is $175 a month. I only get enough socsec benefits to cover my rent, so all other bills are paid by my part time job. I honestly do not know how other single people are making it in these modern days of high prices. Is thete a better plan for people like me? I have parts A & B, not on meds and no major medical issues. What is that plan where they give you grocery money?
I definitely suggest you apply for Medicaid, to supplement your Medicare benefits and cover your coinsurances. Neither Medicare or Medicaid will cover your groceries but the two together should cover all your medical expenses.
I'm working till either 66 or 66.8. I applied for part A, but will apply for Part G 3mos before I retire.
First-time viewer and now a Subscriber. This was a very helpful video. Thanks for the information and I have passed it along to my friend.
Wonderful!
1:18 into vid and I'm already mad...You mean that if I make enough money working/investments/etc, I WILL GET IN TROUBLE IF I DON'T GET ON MEDICARE 🤯🤯🤯🤯🤯🤯🤯🤯🤯🤯🤯🤯 This is America, but I will be forced into this? Now that I'm done watching your vid I want to say THANK YOU. I'm a young 54 (55 in about a month) and I was completely confused. Part A. Part B. Part D. I was like, whoa, is there a Part C or even a Part Z? I started asking my Mom questions and her answers only left me with exponential questions. This vid was worth every second. And I liked how you didn't come across as me owing you a like, thumbs up or subscription. You asked, but you did it quite professionally. I value a great check list myself, so thank you for that. I was born in 1969 and the gov has changed retirement age 3-4xs. I rarely see those commercials anymore: "If you were born between 1950 & 1960... yah dah yah dah yah dah." Now it seems like there are penalties for aging. I will probably work until the very end, but after watching your vid, I feel soooo comfortable knowing that your firm exists and can hold my hand during this confusing process. AND its svcs are free. God bless you. AMEN!
Hey, Stephanie. Can you please reply to suncat9 question. We're getting a nice lil convo going about what if you get medicare but then get another job and your spouse is covered under company insurance. You're the best. Thank you.
Thank you young lady for explaining Medicare were someone can understand It…
I am retired but still work for my company but that will this month I'm am 70 years old I understand what you were saying about Medicare part b thanks for the insight.
Qualification if you are employed by employer with 20+ employees and continued to be covered under your employer's plan. Ask your benefits representative if the plan requires you to become covered under Medicare at 65 - some employer plans do and they effectively become Medicare supplement plans. If they do, and you do not enroll in Medicare, your benefits will be reduced just as if you enrolled in Medicare.
Born after 1954? You HAVE to work passed age 65. You can't receive full Social Security Benefits.
Great information! One question I have is what is the best way to cover a younger spouse when you reach 65? Do I go on Medicare and buy a separate policy for my spouse?
At 53, thanks to boomers and incompetent politicians, I plan on working to the day I die because I cannot afford to retire and I don’t want to live in poverty because of all these “benefits” I paid to support the boomers.
I’m a Federal employee that will continue medical coverage when I retire and the cost is deducted from my pension. Do I still need to take Medicare? I plan on retiring at 64 or 65.
If I'm not mistaken, your current insurance is going to be secondary and Medicare is going to be primary once you retire ( of course if you decide to keep your current insurance). Once you retire you can use federal employee insurance up to 8 months, but meanwhile you need to apply for the Medicare insurance ( she said apply for Medicare 2 months early). What will happen if you don't apply on time, you'll pay a penalty of 10% for each year you failed to apply. Please see the comment (above) made by an ex federal employee. It may help you. Also, she explains very clearly it is good to listen to this video several times. I wrote this comment because I'm also a federal employee who is on his way to retirement. Best wishes.
Thank you for your clear explanations, Stephanie! When I'm ready for Medicare, I'll be giving you a call! :-)
My wife turned 65 and she already been getting social security. However, she's covered under my work insurance. I am 66 and have part A only plus have qualified insurance from work. She filled out the medicare card and sent it back before the deadline declining part B. But medicare still took part B premium out of her social security check anyway. She talked to someone in the SSA and they said it will eventually be processed and refunded to her. So far it's been 2 months and no change.
This is a FORCED TAXATION, I don't even work and we have Tricare prime. We will never need it. But being forced to PAY them for something we don't need and cannot afford. Id rather be homeless and never pay them a dime.
As someone who’s actually been homeless after being a Senior Data Analyst for a Fortune 500 company, and after my divorce, I’m pretty confident that you wouldn’t enjoy actually being homeless. It’s much much worse than you think it is. Never thought it could or would ever happen to me, but, SURPRISE! One minute you’re at home in your nice home watching TV about homeless people and thinking how could someone end up like that, and the next minute you’re one of those people! And it’s not the freedom you think it is.
Im a trucker, turn 65 next year, but plan to keep working for another 5 years. Because I love driving truck! 🚛❤️
That's awesome!
Thank you so much. I truly appreciate the guidance on this very important topic.
Wow so complicated. When you reach 65 and worked all your life you should have free medical services.No questions asked.
I became full time at a large national organization with creditable health insurance a few months after I turned age 70... 5 years after I'd been enrolled in Medicare A & B. Can I drop Medicare B & D until I retire without penalties? I pay premiums for work insurance & Medicare.
Thanks!
Thank you, you are great at explaining things. One thing is everyone glosses over creditable insurance coverage proof after you retire over 65. If it is so important to not be penalized no one even the employer knows what to do. I have heard of forms CMS L564-R237 the employer is to give you. I know you are being general with your info but maybe be more specific with this subject. Links were great with Plan A only info nice job.
Thank you, and I appreciate the feedback!
Thank you so much for your straightforward, easy to understand explanation of this topic.
Glad it was helpful!
Thank you for this helpful video. If I work until 70 , and my employer has 1000 employees and I use their health insurance, you are saying that I don't have to notify medicare at 65? When I enroll at 70, do I need to indicate that I had health insurance over those 5 years? Okay, @8:20 you answered my question--thanks for the great video.
Good information. I currently have Medicare because I am also a military retiree. I noted in my medicare booklet around page 8-9 if you are a military retiree you have to sign up for Medicare then you automatically revert to Tri-care for Life. My kicker is I also still work and my employer has less than 20 employee's so Medicare is primary over my UHC provided by my work(and used for my wife who is not 65). Tri-care is only used for prescriptions. With insurance so complex it seems no one wants to solve that issue. I guess regardless of political party they have something to blame the other party for! Why would they want to simplify insurance?
Here is a different question, someone past 65, who retired and collects SSI and Medicare, but years later accepts an offer of employment. It is understood that if the new earned income exceeds a certain amount the SSI will be reduced by $0.50 for each dollar earned over that amount, but what about the Medicare? Will returning to work after age 66 have an affect on Medicare parts A, B, C or D?
Always great information. Thank you. I’ll be calling soon.
How about Flexible spending accounts (FSA) if you enroll in just A and continue to work which sponsors a regular commercial health insurance.
Oh my, that is a lot to take in! I LIKED the video, I SUBSCRIBED to your channel and I will definitely be CALLING you! 😊
😊
This is a ridiculously complicated system. What if I'm working past age 65 with employer provided medical insurance, then lose my job, then get Medicare, and then after I'm getting Medicare, get ANOTHER job with medical coverage?
Very, very good question.
...just chiming in...but you'd probably want to waive company coverage when you get another job and simply keep Medicare to avoid the yo-yo-ness of having to start the cycle over again. Let's see how Stephanie and/or her crew reply...
@@fredkanada3461 I agree. Medicare is going to be cheaper than what your employer provides in almost all cases.
It's really not hard. Turn 65 and get Medicare. It really is that easy.
Sad nobody answered this excellent question
@@jimroscoviusbut with your employer insurance you can cover your spouse or domestic partner but you can’t with medicare
My mom worked full time till 75. She said she signed up for partial Medicare a/b at 65, and when she turned 75 and fully retired she went full a/b. She had good company insurance until she retired. She didnt do the advantage plan. She told me not to even bother. She signed up for gap insurance and prescription when she retired, it’s expensive! Is that because she waited until she retired? She also said, that her partial a/b took care of what her company insurance didn’t cover. I am looking into Medicare but my husband works full time and we have good medical coverage. I’m a bit confused if I should sign up or wait. Husband doesn’t plan on retiring when he turns 65 but who knows what will happen.
I'm 61 and have a 15 yo son and 18yo daughter (and we plan on covering her until she is too old to be on our insurance) who are on my company's insurance. I plan on working until age 67, so I guess it is best to keep the company insurance as long as possible. My wife won't be retiring exactly when I retire, so she could get insurance with her company once I retire so that our son can be covered and keep him on as long as possible. Is this a good plan?
Yes!
can you please come to my house and help me with this mess???? 😞