Employees age 65 or over

We deal with alot of smaller companies that keep the parents, the original owners, on the group health plan. The owners themselves feel that they need to kept on the plan since it is their business.

Not always the easiest conversation but:

  • the owners should really sign up for Medicare Part A and Part B
  • then buy a Medcare Supplementmedicare

Why:

  • the cost of Medicare and Supplment is usually less then the corresponsing health insurance premium and has better coverage
  • the census now for the remaining employees has a lower average age and the health insurance premiums will be lower for the rest of the group.

It is really a win-win.  Even if it is outside the Medicare Open enrollment you can usually justify this as a quailifying event by saying the owners are no longer eligible for health insurance since they not longer work the minimum hours required for the employer sponsored health insurance plan.

We highly suggest the seminars that all the carriers offer that do a great job explaining Mediare and Medicare Supplements.   Here is the link for Blue Cross.    

 

Medicare, medicare supplements

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