Medicare Missive…from the Beach

Case of the Week 1/13…Elisabeth fm Lexington, MA

Earlier this week I had an initial conversation with Elisabeth, a new prospect in MA. 

She was referred to me by her Financial Advisor who told her that enrollment in Medicare Part A was mandatory so she was very concerned that she her enrollment deadline was weeks away and would be penalized for not having Medicare Part A in place by the time she turned age 65. 

She left me at least 3 voicemails and sounded desperate for help.

I assured her she was fine.

MEDICARE (PART A OR B) IS NOT REQUIRED IF YOU, OR YOUR SPOUSE, RECEIVE COVERAGE FROM AN EMPLOYER PLAN AND THE EMPLOYER IS LARGER THAN 20 EMPLOYEES.

In fact, if you have an HSA (Health Savings Account) that is being actively contributed to, you CANNOT be enrolled in Medicare!

Despite the fact that she didn’t believe me, I did reassure her that she would not be in trouble or face penalties for NOT having Medicare at age 65.  Her husband works for a large company and their health insurance is provided by his group plan.

While she has the option (privilege!) to enroll in Medicare at this time, it is not required as long as her husband remains on his Employer’s Group Insurance Plan.

An hour after hanging up with Elizabeth, I got a call from the Advisor that referred her to confirm what I had told her.  For years, this Advisor has been telling all of her clients that they must enroll in Medicare Part A when turning age 65, and couldn’t believe that Elisabeth had understood me correctly.  She had.

Unfortunately, being consistent does not make it correct. 

Get help from a specialist who knows the rules. 

This is blog paragaraph