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Applying for Medicare fall of 2019. Retiring 2020. Need advice.

  1. #1
    Join Date
    Oct 2018
    Posts
    14

    Question Applying for Medicare fall of 2019. Retiring 2020. Need advice.

    I have group health coverage through my employer and plan to sign up for Medicare (Parts A & B) along with a Medicare Advantage plan when I turn 65 and drop my employer health coverage, .... but then wait until I turn 66 to apply for Social Security benefits.

    I'll only be working one more year after signing up for Medicare, so I figure I may as well take care of everything right now and eliminate the hassle later when I retire. Are there any pitfalls I should look out for?

    I've heard I'll need to provide proof of "credible insurance" for a certain number of years. For how many years? To whom? Social Security? Medicare? Anyone know?



    I've been with the same company for 35 years, but the company has been bought by different entities at least three times now. Unfortunately, we don't have an on-sight HR person to talk to anymore. Have to communicate with HR by phone and email. Corporations!

  2. #2
    Join Date
    Sep 2014
    Location
    Albuquerque, New Mexico USA
    Posts
    9,505
    Sam, I did basically what you are describing and it worked out just fine. I've stayed with the same Medicare Advantage plan since I turned 65, and have never had to provide the certificate of creditable insurance to anyone. If you need one, you can request one from your previous carrier, but I wouldn't worry about it overmuch. When I switched from my private insurance to the Medicare Advantage, they handled the creditable insurance thing by inquiring of my previous carrier themselves. When my sis switched from one Advantage plan to another two years ago, they also handled it themselves

  3. #3
    Join Date
    Feb 2018
    Location
    Houston, Texas
    Posts
    1,223
    I never herd of providing a proof of credible of insurance unless it is something new. Go to the Medicare website and look for it. Sounds like you are getting out just in time. My company was bought out a few months before I retired and it turned out they pissed off everyone with their new policies.

  4. #4
    Join Date
    Dec 2016
    Posts
    2
    Proof of credible coverage is only required if you sign up past your date of first eligibility (3 months before 65, the month turning 65 and 3 months after 65). That is because for those who do not sign up during that 7 month period and fail to show credible coverage are assessed a life long penalty for Medicare once they do sign up. But in your case, this will not apply since you are signing up at 65.

  5. #5
    Join Date
    Oct 2018
    Posts
    14
    Quote Originally Posted by MissMolly View Post
    Proof of credible coverage is only required if you sign up past your date of first eligibility (3 months before 65, the month turning 65 and 3 months after 65). That is because for those who do not sign up during that 7 month period and fail to show credible coverage are assessed a life long penalty for Medicare once they do sign up. But in your case, this will not apply since you are signing up at 65.
    Thanks Molly. Appreciate it!!

  6. #6
    Quote Originally Posted by fmdog44 View Post
    I never herd of providing a proof of credible of insurance unless it is something new. Go to the Medicare website and look for it. Sounds like you are getting out just in time. My company was bought out a few months before I retired and it turned out they pissed off everyone with their new policies.
    This is not new, but it is not encountered by everyone. I had to provide it because I delayed getting Medicare B -and D - until after I quit work, which was after age 66. It was the part D that needed the letter, because they tried to penalize me for not getting it when I got Part A. It all worked out, no penalties once they got the letter.

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