As you may know, the Affordable Care Act (ACA) has had a tremendous impact on the healthcare industry. One of the key changes made was to prohibit employers from providing health insurance that duplicates coverage that employees receive through their Medicare benefits. This means that if you are enrolled in Medicare, your employer cannot offer you health insurance that covers the same benefits. This is an important issue to understand if you are looking to retain your current health insurance and leave your employer. Keep reading to explore your options and see if retaining your employer health insurance is possible under the ACA.
Health insurance
Yes, you can keep your employer health insurance with Medicare. When you become eligible for Medicare, the government will pay the premiums for your health insurance. You will not have to pay any additional money out of pocket.
Medicare
If you have Medicare, your employer health insurance may be a good option for you. Under federal law, most employers must offer Medicare-eligible employees coverage if they have at least 50 employees. However, not all plans are eligible, and there are some exceptions.
Some plans may not cover prescription drugs or long-term care, and others may have higher premiums or co-pays than Medicare coverage. Before deciding whether to keep your employer health insurance, compare the options and make sure that the coverage is what you need and want. Also, be aware that many small businesses don’t offer health insurance at all – so talk to your boss about your options before making a decision.
Employer health insurance
It’s a common question for those considering whether or not to switch to Medicare when they leave their job. What about employer health insurance? Can you keep it if you switch to Medicare?
The short answer is yes, most employer health insurance plans are compatible with Medicare. However, there are a few things to keep in mind before making the switch. First, some plans may have restrictions on which doctors and hospitals they will cover. Second, some plans may have higher premiums or co-payments than Medicare would offer. Finally, some employers may require you to discontinue your employer health insurance plan and switch to Medicare in order to be eligible for retirement benefits.
Medicare vs. employer health insurance
It’s a common question: can I keep my employer health insurance with Medicare? The answer, unfortunately, is sometimes complicated.
If you are covered by an employer health insurance plan that provides benefits through Medicare, you generally don’t have to worry about a change in coverage. Your coverage will continue unchanged as long as your Medicare eligibility remains the same. However, if your employer offers a different type of health insurance plan – such as retiree health benefits – and you elect to switch to Medicare coverage, your new policy may not be accepted by Medicare. This could mean that you would need to pay extra out-of-pocket costs or lose any special benefits your former plan offered.
If you are unsure whether your current coverage will continue under Medicare, it’s always best to contact your insurance company or retirement plan administrator directly. They should be able to help you figure out what changes may need to be made in order for your coverage to continue.
Conclusion
As of 2020, most people will be able to keep their employer health insurance if they are enrolled in Medicare. This change comes as part of the Affordable Care Act (ACA), which was signed into law by President Barack Obama in 2010. If you are already enrolled in Medicare and have a valid employer plan, you should continue to have coverage until the end of your subscription period or until you opt out, whichever is earlier. Please note that this change does not apply to Medicaid or any other government-sponsored programs.