WEBVTT

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Did you know
that more and more Americans

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are choosing to work past age 65?

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That's because many people
want to catch up on their savings

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to better prepare for retirement,

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stay active in their community,

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and feel fulfilled.

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Maybe that's you too.

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But you may be wondering
what your next steps should be

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when it comes to your health care.

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When you turn 65,

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you have the choice to switch
from your employer's health plan

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to a Medicare Advantage plan.

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Which option is best for you?

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The answer
is different for everyone,

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and you might find that choosing
a Medicare Advantage plan

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could give you better coverage

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at a lower price than staying on
your employer's plan.

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What could you use
this monthly cost savings for?

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Build your 401k, paying off debt,

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or finally taking control
of your financial future.

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Here are two common scenarios
you may find yourself in.

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Let's start with scenario one.

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If your employer is small,
say 20 employees or less,

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they may require
that you get Medicare

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when you turn 65.

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Find out if your employer's
drug coverage

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is as good as
or better than Medicare.

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Does your employer's program
qualify as creditable coverage?

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Medicare defines creditable coverage

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as drug coverage that is at least
as good as what Medicare offers.

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To avoid penalties,

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your employer's drug plan
needs to be as good as

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or better than Medicare Part D,

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which covers prescriptions.

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You will experience a penalty
if you enroll in Medicare Part D

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after your initial
enrollment period ends.

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Confusion can happen

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if people don't talk to
their employer's benefits team

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ahead of time.

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You'll want to check with
your employer's benefits team

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to make sure
your drug coverage is considered.

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Find out how your Medicare choices

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may affect your family's
coverage options.

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Even if you plan to keep working,

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it's best to meet with them
before you turn 65.

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Let's turn to scenario two.

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If you work for a big company,

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compare your employer's
health plan to Medicare

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when you get close to age 65.

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Many people think
they don't need Medicare

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because they have
great employer coverage.

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But you may be surprised.

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More and more employers
are offering plans

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with higher deductibles.

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Here are some questions to ask.

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Will a Medicare Advantage plan
save you money?

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Can your family still use
your employer's coverage?

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Will you lose
your employer's coverage

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when you switch to
a Medicare Advantage plan?

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Okay, so we've gone over
a couple scenarios

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and you have spoken with
your HR benefits team.

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Fortunately, you don't have to
figure that out on your own.

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Talk to a licensed insurance agent.

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They can help you compare
your employer coverage

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and your Medicare choices to see

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which one will best work for you

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maybe save you money.

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They can also answer questions like,

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how much will Medicare cost me?

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How does Medicare work with
my health savings account?

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What's the difference between
Medicare and Medicare Advantage?

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How does health care coverage
with Medicare apply to my spouse?

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If you decide that switching to
a Medicare plan is right for you,

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a licensed insurance agent
can help you find plans

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in your area
that our Optum doctors accept.

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If you're planning to work
past the age of 65,

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make sure you have
the right coverage

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for your health needs.

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Start exploring now

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to make the best choice for you.