Things to Consider if You are Working Past 65

And do not forget

1. The Age Discrimination in Employment Act of 1967 (which is still in effect today) legally prevents such discriminatory practices as the hiring of employees on the basis of age and the denial of benefits based on age. Although clearly some age discrimination in employment still exists in the US, federal law doesn’t condone such discrimination, and an ambitious senior wanting to remain in the workforce has more protection than ever.

Law requires an employer or potential employer to treat seniors in the same manner as workers who may be decades younger. There are few employers now that can impose mandatory retirement, and age alone cannot be the determining factor when it comes to hiring or promotion. Of course, age discrimination can sometimes be hard to prove, but most employers are likely to play it safe when federal law is so squarely on the employee’s or prospective employee’s side—and many employers nationwide have long banished illegal discrimination of any kind from their workplaces.

2. Even if you’re covered by your employer’s health insurance plan, in most cases you ought to enroll in Medicare when you’re eligible. Even if you’re happy with your current coverage and don’t see any immediate need for Medicare, there’s seldom a good reason that someone working past age 65 should not enroll in Medicare.

Medicare is compatible with any private health insurance your employer provides.  If you have private employer health insurance, you don’t need to cancel your current plan in order to enroll in Medicare. More important, enrolling in Medicare won’t decrease your current health benefits.

Your private plan will continue its current coverage, and Medicare will become your secondary payer. This means Medicare will increase your coverage by helping cover some of the costs your private plan doesn’t cover.

For the vast majority of Americans, Medicare Part A coverage is premium-free because they paid into the system over the course of their working years. There is a premium for Medicare Part B coverage, with most enrollees paying $104.90 per month in 2013. You may choose to disenroll from Part B in order not to pay that premium, but you should be aware that you may be required to pay the Medicare Part B late enrollment penalty if you enroll in Part B later—and this is a penalty that late enrollees pay every month as long as they remain on Medicare.

Whether you choose to work past 65 or not, your health is your most vital asset. You won’t find a better source than MedicareMall.com for information about Medicare supplement insurance, Medicare Advantage, and prescription drug plans, or a better partner than MedicareMall when it comes to sorting through all the Medicare options and making sure you’ve got the coverage you need. To make sure you’ve got the best coverage possible at the best price possible, why not give MedicareMall a call today?

Are you over 65 and working? Tell us about it!

 

Things to Consider if You’re Working Past 65© 2013 MedicareMall.com

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