I've been on my employer's health plan but am retiring soon. What should I consider when moving to Medicare?

Question

Michael Ryan · Accepted Answer

First and foremost enroll in both Part A and B if you havent already done so.

Make a list your important doctors and prescriptions.  Contact an independant agent that works with many if not all of the carriers and different types of plans ie Med Sups, Medicare Advantage, Prescription Drug plans to narrow down your options for you.  While you can find most of this information independently, what you wont find is the detailed information that can make a difference in your coverage. Especially in 2025 with the significant changes in ALL of the prescription drug plans. You can start the rieview and application process as early as 3 months before needing it in place...

Focus on actual care thats needed now and will happen in the future.. One of those calls I get from time  to time starts with "remember that plan we talked about, I should have listened to you instead of goin out on my own"   There's no cost in working with an independant agent, there could be a significant cost in not doing so..

Larry Dalton · Answer

When leaving a Medicare-recognized group plan at retirement, you have some of the same opportunities that you had when you turned 65. Most only have Medicare Part A, and some may carry Part A & B. However, the day you retire, and you are over 65, your time clock begins regarding upcoming penalties for failing to enroll. First, you have eight months to enroll in Medicare Part B to avoid penalties. However, you have only 63 days to sign up for a Medicare Part D prescription drug plan, or a guaranteed issue right for certain carriers on Medigap plans, with no pre-existing evaluation, and 63 days for a Medicare Part C Advantage plan. But you can't sign up for any of these plans until you sign up for Medicare Part B. Therefore, you should sign up immediately for Medicare Part B or the month before retirement, before your current coverage ends, to help you avoid a coverage gap. Now, with the retirement date, you have two choices: to go with Medicare Advantage coverage or a Medigap plan. This decision will determine how you go with Medicare Part D. Remember, this is for employees who stay on a company group health insurance plan of 20 or more employees past age 65.

Answered by Larry Dalton on May 5, 2025

Broker Licensed in OK & TX

Answered by Larry Dalton Medicare Insurance Agent

Tony Capraro III · Answer

You should sit down with a Medicare Agent to go over all your options! I usually have folks come in for a quick meeting and see exactly where they are and what their plans and goals and objectives are! We'd be glad to help you! :)

Answered by Tony Capraro III on April 11, 2025

Agent Licensed in NH & ME

Answered by Tony Capraro III Medicare Insurance Agent

William Gray · Answer

If you are over the age of 65 in order to avoid the penalties imposed you will need to submit the CMS-L564 form 

If you have income from 24 months ago that will put you in a high income earner you will need to fill out the form SSA-44 for an IRRMA reduction. 

You can find these forms on my website under the forms tab. 

https://www.themedicaredude.com/forms.html

william

Ray McCauley · Answer

Number one is cost
every morning number two our Benefits I will help you navigate to Medicare minefield please call me 916-628-5244

Sherah Beasley · Answer

This answer is provided in a video format. Watch the agent's video response here: https://medicareagentshub.com/questions/ive-been-on-my-employers-health-plan-but-am-retiring-soon-what-should-i-consider-when-moving-to-medicare#sherah-beasley

Kevin McIntire · Answer

Timing is a big factor. Medicare plans only begin on the 1st of every month, so make sure your employer coverage extends to the end of the month before you start Medicare.

Timothy Brown · Answer

The coverage options that you feel would best fit your healthcare needs and budget. A Medicare Supplement or a Medicare Advantage plan are the plan options the can address your needs.

Michael Yost · Answer

I would start applying for Part A/Part B 60-90 days before your retirement date. You want to give social security time to process your applications. You also want to review all Medicare options to see what your best route will be in choosing a plan.

Answered by Michael Yost on May 22, 2025

Broker Licensed in OH, AL, AZ & 27 other states

Answered by Michael Yost Medicare Insurance Agent

Steve Brauer · Answer

This answer is provided in a video format. Watch the agent's video response here: https://medicareagentshub.com/questions/ive-been-on-my-employers-health-plan-but-am-retiring-soon-what-should-i-consider-when-moving-to-medicare#steve-brauer

Sonya Chandler · Answer

You need to consider the cost of Medicare.  You also need to consider the copays, coinsurance and cost of any medications you may be taking.

Steven Rodriguez Giudicelli · Answer

As you retire and move to Medicare, understand your enrollment periods to avoid penalties and familiarize yourself with Medicare Parts A, B, C, and D. Carefully assess your healthcare needs, including doctors and medications, to choose between Original Medicare with supplemental coverage or a Medicare Advantage plan that best fits your requirements and budget.

Answered by Steven Rodriguez Giudicelli on June 3, 2025

Broker Licensed in FL & TX

Answered by Steven Rodriguez Giudicelli Medicare Insurance Agent

Albert Smith · Answer

You should consider your finances, present health, and relocation plans. Then you can just weigh your options.

Adam Ashby · Answer

You need to think about a lot of things and you should start considering these things 90 days prior to losing your employer's health plan. First of all, you get the gift of Guaranteed Issue for a Medicare Supplement, this is your once in a lifetime opportunity to be protected by amazing coverage without the need to answer health questions - should you take advantage of that? Another thing you need to consider is your budget, for some moving from an employer plan to a Medicare Advantage plan is easier as they are already used to copays, networks and limitations. A full review of your NEEDS and WANTS in regards to your health is important. An agent cannot answer those questions in 5 minutes - if they do they are putting you where they want you, not where you necessarily should be. Find a Broker that will ask you about you and will help you be ready for the future.

Answered by Adam Ashby on May 19, 2025

Broker Licensed in CO, NE, UT, WA & WY

Answered by Adam Ashby Medicare Insurance Agent

Adriana De la Cruz · Answer

That's a great question! Moving from employer coverage to Medicare can be a big step. You'll want to think about things like when you need to enroll to avoid any late fees, what parts of Medicare you need, and if you want extra coverage like a Medigap plan or Medicare Advantage. It might sound a little confusing, but don't worry, I can help you through it.

Answered by Adriana De la Cruz on May 23, 2025

Broker Licensed in TX, AZ, CA & NM

Answered by Adriana De la Cruz Medicare Insurance Agent

Mark Mabaquiao · Answer

Basically, here are the things or questions you need to consider when moving to Medicare when retiring (at 65 years old):

(1) Will you enroll in Medicare Parts A and B online at ssa.gov or will you be automatically enrolled because you are currently receiving Social Security benefits?
(2) How do Medicare Parts A, B, C, D, and E work? 
(3) Based on your prescription drugs (if any), medical providers (if any), and medical concerns (if any), which Medicare coverage model gives you better peace of mind - Medicare Advantage or Medigap (plus a drug plan)?
(4) Should you consider adding additional policies like dental / vision / hearing, hospital indemnity, cancer / heart / stroke, short-term care, and long-term care?
(5) Should you consider working with a licensed professional, a SHIP counselor, a Medicare.gov rep, or do all the research on your own.

Rodolfo Rojas · Answer

It varies on what coverage you would like. If you are in decent health, I would suggest Medicare Advantage. If you can afford Medicare, supplant-Median-that would be another option. You can also stay with Medicare Original, which is A-hospital, and B-Medical. However, you will have deductibles and it is 80/20 coverage.

Answered by Rodolfo Rojas on May 29, 2025

Broker Licensed in NV, AL, AR & 22 other states

Answered by Rodolfo Rojas Medicare Insurance Agent

Lawanda Radford · Answer

Thank you for your question, and congratulations on your upcoming retirement! If you’re leaving an employer health plan, you’ll have a Special Enrollment Period to join Medicare—don’t delay to avoid penalties. Understand the Parts of Medicare: Parts, A, B,C, and D. Need help? Talk to a licensed Medicare advisor to make the transition smooth.

Answered by Lawanda Radford on May 13, 2025

Agent Licensed in GA, AZ, FL & 10 other states

Answered by Lawanda Radford Medicare Insurance Agent

Calvin Fritz · Answer

When transitioning from your employer's health plan to Medicare, consider your eligibility for Medicare Part A and Part B, potential special enrollment periods, COBRA options, and the costs and benefits of Medicare compared to your employer's plan.

Answered by Calvin Fritz on April 8, 2025

Broker Licensed in MO, AL, AR & 22 other states

Answered by Calvin Fritz Medicare Insurance Agent

Mark Enright · Answer

Do you like your employer plan? Why do you like it? What does it cost you? Many people don't have a clear idea what their employer plan is costing them. Also, is it important for you to continue with the same doctors and hospitals when you move to Medicare? It's also very important that you have an accurate list of your prescriptions when deciding on a Medicare option.

Answered by Mark Enright on April 23, 2025

Broker Licensed in IL, CO, FL & 6 other states

Answered by Mark Enright Medicare Insurance Agent

I've been on my employer's health plan but am retiring soon. What should I consider when moving to Medicare?

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I've been on my employer's health plan but am retiring soon. What should I consider when moving to Medicare?

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