promotion image of download ymail app
Promoted
Anonymous
Anonymous asked in Business & FinanceInsurance · 1 month ago

if someone is 65 or older can they bypass MediCare and get a private health insurance policy instead?

6 Answers

Relevance
  • Zarnev
    Lv 7
    1 month ago
    Favorite Answer

    Yes, you can, but you need to know all of the facts before making a decision to do so.

    If your employer has 20 or more people on their plan you can remain on their plan and then sign up for Medicare when you retire because the employer plan is primary. If there are fewer than 20 you must sign up for Medicare because Medicare is primary for a small group. If you don't, there will be a penalty you'll have to pay if you sign up in the future. You might also have to pay costs associate with your healthcare that Medicare would have paid if you were signed up.

    If you have an individual plan you can keep it when you turn age 65. Be aware that if you're getting a subsidy to help pay that premium you'll lose the subsidy when you turn 65. This will make the cost much more for less benefit.

    If you are on Medicaid with a private plan you'll be required to sign up for Medicare or you'll lose your welfare benefits.

    Source(s): Independent Ägent
    • Commenter avatarLogin to reply the answers
  • 1 month ago

    Yes. They can also stay on their employer's plan if they still work, or if they are retired and their employer's plan covers retirees.

    I'm approaching the time where I have to make a decision. Do I stay on my former employer's plan. Do I sign up for Medicare Part B and waste the premium while staying on my employer's plan (some available plans will partially reimburse Part B premiums, because if you have it, Medicare becomes your primary and your plan is secondary and this saves them money). Or do I drop my employer's plan and take Medicare and get an Advantage plan to cover most of what Medicare won't cover?

    There are guys I worked with you never signed up. One guy is 84 and has saved 19 years worth of Medicare premiums. His wife has been covered all that time, too, on his plan.

    But another guy, who retired well before 65, has a wife 10 years older. She was covered under work plan when she retired and then switched to his. Neither signed up for Medicare. When Obamacare forced premiums for the plans available to use to almost double from 2016 to 2017, all of us had to scramble. I had no choice, but the people who were over 65 and had already signed up for Medicare had an easy choice. They dropped the employer plan and replaced it with an Advantage plan, and there were some with zero monthly premiums. This one guy wanted to do that. He was 66, so if he dropped out and took Medicare, he would have to pay 110% of the Part B premium as a penalty for not signing up at 65. Even though you pay that higher amount until you die, it would have been worth it for him. But his wife would have had to pay a penalty of 210%. It's 10% per year for every year you waited after 65. They couldn't afford that, so they stayed with the employer plan, which, thankfully, have seen premiums come back down somewhat.

    If the plans available to us were to be eliminated (and there's been some talk of that, it would take an act of Congress to eliminate the federal employees health benefit program), we would be allowed to sign up for Medicare with no penalty.

    But that may not apply to you. If you opt out of Medicare Parts B and D (prescription drugs) in favor of your own plan, and you later change your mind, or your insurance becomes too expensive, you may have to pay the penalties for waiting past 65.

    • ...Show all comments
    • curtisports2
      Lv 7
      1 month agoReport

      True, if you are employed at 65 and beyond and then retire and sign up. False if you retired before 65 and stay on your employer's insurance and don't sign up during the initial enrollment period (from 3 months before to 3 months after you turn 65).

    • Commenter avatarLogin to reply the answers
  • 1 month ago

    Of course, if they can afford it, they can do whatever they want.

    • Commenter avatarLogin to reply the answers
  • 1 month ago

    yes. they can get private insurance and/or private care . it is expensive, but available to those who can afford it 

    • Commenter avatarLogin to reply the answers
  • How do you think about the answers? You can sign in to vote the answer.
  • 1 month ago

    If you have employer provided healthcare that does not require you to sign up for Medicare part A then yes you can decide not to claim although you are automatically signed up for this at no charge when you start collecting ss benefits.  Some of the best employers continue to provide health insurance to all their workers without the need to claim on Medicare as primary coverage.

    But if you are asking whether you can get private health insurance and bypass Medicare entirely, even the free part A then the answer is that you would be an idiot to bypass something you have paid into throughout your working life but there is no law against stupid. 

    • Commenter avatarLogin to reply the answers
  • oikoσ
    Lv 7
    1 month ago

    Sure. You can opt out of everything other than part A and part A is free.

    • Commenter avatarLogin to reply the answers
Still have questions? Get your answers by asking now.