More Arkansans are choosing to work past the age of 65. If you are one of them, you might be wondering if you are required to enroll in Medicare or if you can stick with your employer's health insurance.
The 20-Employee Rule
The rules depend largely on the size of your employer. If your employer has 20 or more employees, your employer group health plan pays first. In this scenario, you can usually delay enrolling in Medicare Part A and Part B without penalty.
Small Employers (Under 20 Employees)
If your employer has fewer than 20 employees, Medicare becomes the primary payer at age 65. In this case, you must enroll in Medicare Part A and Part B to ensure you have adequate coverage, as your employer plan will only pay secondary.
Transitioning to Medicare Later
When you eventually retire or lose your employer coverage, you will be granted a Special Enrollment Period (SEP) to enroll in Medicare Part B without late penalties. Our advisors can help you compare your employer coverage against Medicare to see which option provides the most value while you continue to work.
