Frequently Asked Medicare Questions
Q: Do I have to sign up for Medicare at 65?
A: It depends on your situation. If you’re retired, self-employed, or working for a small company (fewer than 20 employees), then yes — you should sign up to avoid any penalties. If you’re still working for a larger company, you may be able to delay without a penalty. I can help you figure out which rules apply to you.
Q: What if I keep working past 65 — do I still need Medicare?
A: It depends on your employer. If your company has fewer than 20 employees, you’ll need to enroll in Medicare to avoid gaps and penalties. If your company has 20 or more employees, you may be able to delay Part B without a penalty. You can check with Social Security for your company’s status.
Q: Can I keep my HSA if I go on Medicare?
A: You can still use your HSA funds, but you must stop contributing before enrolling in Medicare to avoid tax penalties.
Q: What’s the difference between Medicare Advantage and Medicare Supplement (Medigap)?
A: Medicare Advantage (Part C) replaces Original Medicare and includes extra benefits, but uses a network of doctors and facilities. Medicare Supplement works with Original Medicare to cover out-of-pocket costs and lets you see any doctor or facility that accepts Medicare.
Q: Is a Medicare Supplement a PPO?
A: No. A Supplement is secondary insurance to Original Medicare and allows you to go to any doctor/facility that accepts Medicare. A PPO is a Medicare Advantage plan has a specific network of in-network doctors with the option to out-of-network providers. They seem similar on the surface, but are quite different.
Q: Can I change my Medicare plan later?
A: Yes. Each year during Open Enrollment (Oct 15 – Dec 7) you can switch plans, add coverage, or make changes. There are also special times you can change if your situation changes, like moving or losing other insurance. I tell all my clients to let me know if they are thinking about switching so that I can give them clear understanding when and what their next steps are.
Q: Does my spouse need to enroll if I keep working?
A: Maybe. If your employer coverage extends to your spouse, they may be able to delay Medicare too. But if your employer coverage is only for you, your spouse might need to sign up for Medicare at 65. For these situations I find it best to talk with you directly so that I can better understand your full situation.
Q: Does Medicare cover everything?
A: No. Medicare covers medically necessary hospital and medical coverage, but doesn’t include things like prescription drugs. That’s why many people choose to get additional plans to help fill the gaps.
Q: Where can I get help choosing the right plan?
A: Medicare.gov shows your options, but it can’t tell you what’s best for your situation. That’s where I come in — I walk you through everything and help you feel confident in your choice.