When the Company Pays Most or All of the Cost of Employee Group Health Plan

When your employer pays 100 percent of the monthly premium for your health insurance, you’ll likely want to continue this arrangement. You prefer to pay little or nothing for your health insurance. You should make sure that your company’s group health insurance plan does not assume that you are enrolled in Medicare Part B and pay claims as if you were enrolled. If that is the case, you, the employee, should enroll in Medicare Parts A and B because you will avoid having holes in your medical coverage. You’re better off keeping your group health plan; enrolling in Medicare Parts A and B if necessary; and having comprehensive coverage.

An insurance company may require you to enroll in Medicare Parts A and B and you’ll have no choice. Remember, enrolling in Medicare Part A and B is different from enrolling in a Medicare Supplemental (Med Sup) policy or in a Medicare Advantage (MA) plan.

Money you pay for Medicare Parts A and B go to the U.S. government. Money you pay for a Med Sup plan or MA plan go to a private health insurance company. Use this worksheet to calculate the amount you will likely pay for Medicare and Med Sup plan.

Remember that we’re happy to help you determine your best course of action. We’ll need to be the agent/broker/consultant for your company’s group plan. It only takes a letter on your company’s letter head and BenefitsCafe.com will work on your behalf.

Give us a call (800) 746-0045.

Read the next article: Employees with Dependents Enrolled in Employer-Sponsored Medical Plan