How Working Past 65 Impacts Your Medicare Choices

─ Don't Let It Catch You Off Guard

With more people working past 65 these days, it’s really important to keep an eye on how it might affect your Medicare options.  Trust me, I've seen it firsthand — making the wrong choice can lead to all sorts of confusion, extra costs, and big headaches.

Simplifying Medicare After 65

You might assume that once you hit 65, Medicare just falls into place. It’s a little more complicated than that, especially when you’re still working and trying to figure out how your employer’s health plan plays into your Medicare options. Here’s the thing – working after 65 doesn’t automatically mean you should be signing up for everything right away.

Here’s a quick breakdown of the basics.  Medicare has four parts. Part A covers hospital stays, Part B covers visits to the doctor and outpatient care, Part C (or Medicare Advantage) bundles it all together, and Part D is prescription drug coverage.

When to Delay Enrollment and Why

But just because you're turning 65 doesn’t mean you have to enroll in these right away – especially if you’re still working and have coverage through your employer. Many people don’t realize it, but you may be able to delay signing up for Part B if your employer’s health plan is still covering you.  First, you must be working for an employer with twenty or more employees.  Also, your employer’s health plan has to be what’s called "creditable coverage," meaning a plan that’s at least as good as Medicare. If it’s not and you miss the enrollment window for Part B, you could face some penalties later on.

Financial Realities of Medicare

Medicare isn't free – and Medicare premiums can come as a surprise if you're not prepared. Some people think they can put off signing up for Part B, but that can actually end up costing more in the long run. You can also face penalties for not having Part D if you delay getting your Part D prescription drug coverage.

Medicare Supplement Medigap vs Advantage Plans

Here’s where it gets tricky. I talk to folks all the time who are still working and think they’ve got it all figured out, only to realize later that they’re paying more for less coverage.

And then there’s the whole question of Medicare Supplement plans, also known as Medigap, based on where they reside in San Antonio. These are optional, but they can help pay those out-of-pocket costs that Medicare doesn’t cover, like co-pays or deductibles. Other people will want to look into Medicare Advantage plans based on where they live in San Antonio, which can offer an array of supplemental benefits, such as routine dental and vision care. The key is making sure you fully understand the options and rules before making any choices.

Not Overlooking Your Medicare Opportunities

I often hear people say, “Well, I’ll just stick with my employer’s plan until I retire,” and while that’s fine, you might be missing out on better coverage if you don’t look into your Medicare options. Once you reach 65, paying attention to your choices is important. Medicare isn’t altogether something you can just “set and forget.” You need to plan for it like you’d plan for any other part of your retirement.

Final Thoughts

Here's the bottom line.  First, don’t assume you know everything about Medicare just because you’ve been working past 65.  Second, be sure you’re enrolling in the right parts of Medicare at the right times. And third, if all this sounds confusing, get help. There’s no shame in asking a trusted San Antonio Medicare expert for guidance – they can save you a lot of money and headaches down the line.

In the end, the key to navigating Medicare, especially when you’re working past 65, is to stay informed. Take your time, do your homework, and make sure you’ve got the right coverage for your situation. Because, trust me, you don’t want to wake up one day and realize you’ve been overpaying for the wrong plan all along.

So, take a minute to think about how your Medicare options fit into your future plans. If you have questions about Medicare in San Antonio, I’m here to help.  "Do It Yourself" isn't a Medicare plan. A FRIEND to come alongside you is priceless. Rodney POWELL - the "Medicare Video Guy" - is that person for you.

Rodney POWELL, the “Medicare Video Guy”

855-360-5263

MedicareVideoGuide.com  |  YouTube/@MedicareVideoGuy