Roadmap to Medicare
Over 20 Employees, With HSA
You can no longer contribute to a Health Savings Account (HSA) once you enroll in Medicare Part A. Click on the link below for more details on HSAs and Medicare.
More information on:
Medicare and HSA’s
Medicare and COBRA
Original Medicare Part A & B
Medicare Supplement Plans
Medicare Advantage Plans
Prescription Drug Plans
Medicare Other Coverages
Your Roadmap is based on…
- Your Primary Insured intends to remain actively at work (at the employer providing your benefits)
- You are covered under the Group Health Insurance Plan
- The employer providing health insurance has more than 20 employees
- You ARE contributing to a Health Savings Account (HSA)
Recommendation Summary
- Since you have creditable coverage (group coverage based on current active employment), you are NOT required to enroll in Medicare Part A or B at this time.
- Since you have a Health Savings Account (HSA), you should not enroll in Medicare Part A nor B because enrolling, will prohibit you from making future contributions into your Health Savings Account.
- How to Defer Part A and B: Do nothing! There is nothing you need to do to defer. You do not need to notify Social Security.
If you do not enroll in Medicare A and/or B at this time, you will not accrue a penalty. You will have a Special Enrollment Period (SEP) when your group coverage and/or your employment ends to enroll in Medicare.
Will I receive a penalty if I don’t enroll now?
No. You will not receive a late enrollment penalty, provided you remain covered under the group creditable coverage and your primary insured remains actively at work at the employer that provides your benefits.
Do I need Medicare to have full coverage?
No. Medicare Who Pays First states that your Group Health Insurance will remain primary insurance at age 65 and older as long as you remain covered by Group Insurance based on Current Active Employment through an employer with more than 20 employees.
What is my deadline to enroll?
You will have a Special Enrollment Period to enroll in Medicare later on. You can enroll at anytime after age 65, up to 8 months after your group coverage or the employment it is based on ends, whichever comes first.
Secondary Insurance Options
Since your current plan will remain primary to Medicare as long as you remain enrolled in it, Medicare A and B is not required to have full coverage at this time. You will have the option to keep your Group Health Plan or switch to Medicare and elect a Medicare Supplement Insurance Plan or Medicare Advantage Plan and Medicare Prescription Drug Plan.