GROUP COVERAGE VS MEDICARE
If you have worked for at least 10 years and paid your Medicare taxes, Part A has
no monthly premium. The issue here is that if your employer-sponsored health
coverage happens to be an HSA (High-Deductible Health Savings Account), there
is a chance you might not be able to make any additional contributions to that
plan after you have enrolled in Medicare.
THERE IS, OF COURSE, THE
OPTION TO KEEP YOUR
EMPLOYER HEALTH PLAN AND
ALSO ENROLL IN MEDICARE ON
TOP OF IT.
Whether that is a good idea or not depends on your specific situation. You
could easily end up overpaying for coverage you don’t even need. Here’s
another consideration which may change things: Do you have a spouse or
dependents that are relying on your employer-provided healthcare plan? If
so, you may want to think twice about switching away from it because they
almost certainly aren’t going to be covered anymore if you leave the plan.
Confused yet? Don’t worry,
that’s natural.
That’s what we are here for. To get help navigating between group coverage,
Medicare, and everything in between, contact Steve at 952-746-4365 or
[email protected]. +
Steve Strege has over 20 years of experience in all areas of employee benefits consulting, especially creative
cost trend reduction, union negotiation, mergers and acquisitions. Seamless HR, compliance, and
benefit integration with constant guidance. Data analysis and individualized decision support and tools
allowing cutting edge consumerism on prescription drugs and all other services. Utilizing proprietary
best in class tools is a focus, as better information allows for better decisions! He believes in lowering
trend through better utilization of employee benefits and is a Certified WELCOA Well Workplace
Practitioner Levels I & II. Online and mobile access for enrollment and compliance saves time and hassle.
BY: STEVE STREGE
NESBIT AGENCIES
Recognized as an Industry-wide Leader of Group Health Insurance, by “Twin Cities Business
Magazine” - Five Star Health Insurance Professional Award. Award recipients represent the Top
seven percent of MN Brokers/Consultants. Award evaluated by a Blue-Ribbon Panel of Health,
and Insurance Industry Experts (an independent third party research company administered a
rigorous research process across 10,000 Twin Cities based small business decision-makers asking
them to evaluate their company’s health insurance professional. Evaluations based on nine
criteria: customer service, integrity, knowledge/expertise, employee communication, employer
communication, scope/depth of consultation activities, quality of recommendations, post-sale service,
and overall satisfaction). You can contact Steve at 952-746-4365 or [email protected].
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