Forum Discussion

philh's avatar
philh
Explorer II
Oct 25, 2020

Medicare Questions

My wife (57yo)has received determination of full disability, and immediately eligible for medicare.

I'm still working full time for a fortune 50 company at 62-1/2. My continued working as been 1. income, 2. health insurance.

My corporate annual benefit and health elections has to be selected in the next two weeks.

Yes, I should have done research before being presented with this determination, but everything I knew, it was rare for immediate medicare opportunity.

I'll call HR Monday, but my experience is they are generally clueless and of little help.

How does medicare work with corporate insurance, or would I drop her off my corporate insurance plan. This year, the medical plan is no medical premiums, however, for her and I, it's a $7,000 deductible.

2nd lesser discussion item, with her being complete, I may only work another year or so. Corporation dropped the pension plan before I joined the company, so I get nothing after I stop working. I'll need some insurance for a little over a year starting in 2022.
  • Medicare will become primary payer for your wife and your health plan at work will function as supplemental insurance. As en let an said, start looking now for the insurance you will need when you leave the company. If the plan you choose does not cover both of you then you can get your wife a Medicare supplement policy and separate insurance for you. You will need to compare to see which is most cost effective.

    Lenny
  • We have Medicare and private insurance. Medicare does not cover some of the medical items as the cost of care is so high. Even with our private insurance it is very close to cover expenses.
    We have Blue Cross which I think is a high end company.
    Before you retire, I would look into a plan to help offset costs. Now would be a good time to tart research as you are doing here.