Medicare is a federal government program that provides healthcare coverage to those who are 65 or older, or under 65 with certain disabilities. It can be very complex, but our agency has helped countless seniors find the right Medicare plan for their needs and budget. We’ll explain Medicare in the simplest way we know how. Then, you’ll know what to expect in the months surrounding your 65th birthday.
Before we discuss the instances where Medicare will either serve as your primary insurance or your secondary insurance, let’s first discuss what primary and secondary insurance mean.
Primary insurance is the insurance that will pay first for your coverage, while your secondary insurance will take care of the costs leftover.
When Will Medicare be Primary?
If you do not have any other insurance plan apart from Medicare, then Medicare is automatically your primary insurance. However, there are other cases where Medicare will be your primary insurance even if you have other health coverage.
One of the most common factors that will determine whether Medicare will be your primary insurance or not is if you are still employed. Though Medicare can serve as secondary insurance to your company’s insurance, it can also be the primary insurance in some cases. For example, if you work at a company with fewer than 20 employees and you have a group health plan, Medicare will serve as your primary insurance. If you work at a company with 20 or more employees, Medicare will be your secondary insurance.
In a situation where you are eligible for Medicare and you have retiree insurance at your former place of employment, then Medicare will serve as your primary insurance. If you have retiree insurance and you are not eligible for Medicare, then the retiree insurance will automatically serve as your primary insurance.
At Carolina Senior Benefits, we understand the importance of understanding how your coverage will work. Give us a call today at (704) 765-4689 to be connected with great companies and plans that will work best for you.