To add to the Medicare confusion comes this question, “What happens if I enroll in Medicare, then go back to work using my employer’s insurance, then leave work again?”
Leaving Medicare to Return to Work Coverage
Returning to work with Medicare is usually much easier than you think. If your work is offering insurance benefits, you will want to see if you qualify for health insurance. Also, if you do, check with them to see if you are required to keep your Medicare part B if you enroll in the company plan. If you choose to stop Part B when you return to work, you’ll have to drop your Medigap policy, too. Note: If you drop Part B and try reenroll later, you may not be able to buy Medigap with guaranteed issue. This means that insurers could deny coverage or charge more if you have preexisting conditions. We will review this below
You will keep your Medicare Part A regardless. In some cases, you will save money by suspending your Medicare part B and going with work coverage. In other cases, it may be cheaper just to stay with your Medicare Part A and B and Medigap and skip the work plan.
Enrolling back on Medicare after leaving work coverage.
If you had Medicare but left it to go on work coverage and now want to go back on Medicare again you can! You will receive a Special Enrollment Period which you can use to enroll back on Medicare.
Medicare’s Special Enrollment Period will grant you two full months to enroll in Medicare after leaving your employer’s insurance, even if you already had Medicare, previously. You will not have to pay any late-enrollment fees or penalties. (Source: Medicare.gov)
Enrolling Back on Medigap after leaving work coverage.
You may also want to get a Medigap Plan (Medicare Supplement), once you return to Medicare from work. You are usually not guaranteed to be approved when enrolling in Medigap even if you had it before. Some (but not all) companies will approve you without Medical underwriting as long as you can show proof that you were just previously covered from work. We can help you identify which companies will not require Medical Underwriting when returning to Medicare from work.
Some states have different regulations than the federal government regarding guaranteed issue for Medigap. If you live in one of these states, you should check with them to learn more about your rights. Give us a call at 800-930-7956 and we can help you review your options and reenroll on a plan.
Plain Language Return to Medigap from Work Recap
You can leave your Medicare, Medicare Advantage, or Part D Drug coverage to go on a plan offered by your work and then return with no penalties or waiting period and Medical-based approval. Returning to Medigap is not guaranteed but some companies and states will allow you to enroll without medical underwriting.
Senior65.com can help you with this process. We can help you enroll at no additional cost and we charge nothing for our services. Give us a call at 800-930-7956.