Know Your Medicare Options

Depending on your particular situation, there are different steps you should take to ensure you get the best coverage for your needs.

Select the circumstance that best applies to your current situation:

I have coverage through an employer (or former employer) with 20 OR MORE employees… Select

Choose the scenario you think will apply when you turn 65:

I am the subscriber on my current health plan and will keep working for this employer beyond age 65. Select

  • You should consider enrolling in Medicare Parts A, B and D to avoid penalties later. You can enroll in Medicare starting 3 months before you turn age 65.
  • If your coverage is currently through an employer (yours or a spouse’s employer), ask if they offer an employer sponsored Medicare plan for you. If they do not, you can enroll in a Medicare plan on your own once you have enrolled in Medicare A and B.
  • You should consider enrolling in Medicare Part D prescription drug coverage to avoid penalties later.
  • Remember to cancel your current health care coverage at the same time your Medicare plan starts to avoid duplicate coverage.

NOTE: A popular option is to enroll in a Medicare Advantage plan (Part C) that already includes Part D prescription drug coverage. You’re welcome to contact MVP for more guidance, or contact the Social Security Administration or Medicare. You must have Medicare A and B to enroll in a Medicare Advantage plan.

I am retiring but my employer does not offer coverage to retirees. Select

  • You should consider enrolling in Medicare Parts A, B and D to avoid penalties later. You can enroll in Medicare starting 3 months before you turn age 65.
  • If your coverage is currently through an employer (yours or a spouse’s employer), ask if they offer an employer sponsored Medicare plan for you. If they do not, you can enroll in a Medicare plan on your own once you have enrolled in Medicare A and B.
  • You should consider enrolling in Medicare Part D prescription drug coverage to avoid penalties later.
  • Remember to cancel your current health care coverage at the same time your Medicare plan starts to avoid duplicate coverage.

NOTE: A popular option is to enroll in a Medicare Advantage plan (Part C) that already includes Part D prescription drug coverage. You’re welcome to contact MVP for more guidance, or contact the Social Security Administration or Medicare. You must have Medicare A and B to enroll in a Medicare Advantage plan.

I am the subscriber on my current health plan and will keep working for this employer beyond age 65. Select

  • You can delay enrolling in Medicare Part B until you retire. You should enroll in Medicare Part A when you turn 65 if you are entitled to premium free coverage, since there is no cost to you.
  • Be sure the employer notifies your health plan carrier that they are going to continue your current coverage past age 65.
  • Ask the employer if your plan’s prescription drug coverage is “creditable” meaning it’s as good as Medicare’s standard. If not, you should consider enrolling in Part D to avoid penalties later. To enroll in Part D, you must also have Medicare Part A and/or Part B.
  • When you retire, contact the Social Security Administration to enroll in Medicare Parts A and B.

NOTE: A popular option is to enroll in a Medicare Advantage plan (Part C) that already includes Part D prescription drug coverage. You’re welcome to contact MVP for more guidance, or contact the Social Security Administration or Medicare. You must have Medicare A and B to enroll in a Medicare Advantage plan.

I have coverage through an employer with UNDER 20 employees… Select

Choose the scenario you think will apply when you turn 65:

I want to terminate my employer group health care coverage and buy a Medicare plan on my own. Select

  • You should inform your employer group that you want to cancel your health care coverage on the first day of the month you turn age 65.
  • You should contact the Social Security Administration to apply for Medicare Parts A and B within 3 months of turning age 65.
  • You should consider enrolling in a Medicare Advantage plan or Medicare supplemental plan to enhance Medicare coverage.
  • You should consider enrolling in a Medicare Part D prescription drug plan to go along with your Medicare Advantage or supplemental plan.

I will continue working and want to keep my employer group’s health insurance coverage even though there is less than 20 employees. Select

  • You should enroll in Medicare Parts A and B to avoid penalties later, and because Medicare is primary coverage over an employer plan with less than 20 employees. If you do not get Medicare, you will pay much higher copays.
  • Be sure your employer group plan has “creditable” prescription drug coverage (drug coverage that is as good as Medicare’s standard). If not, you may enroll in a Medicare Part D to avoid penalties later.

I have coverage through an Individual Exchange plan… Select

Choose the scenario you think will apply when you turn 65:

I am losing the subsidy on my Individual Exchange health plan at age 65, making the plan too expensive to keep. Select

  • You should consider enrolling in Medicare Parts A, B and D to avoid penalties later. You can enroll in Medicare starting 3 months before you turn age 65.
  • If your coverage is currently through an employer (yours or a spouse’s employer), ask if they offer an employer sponsored Medicare plan for you. If they do not, you can enroll in a Medicare plan on your own once you have enrolled in Medicare A and B.
  • You should consider enrolling in Medicare Part D prescription drug coverage to avoid penalties later.
  • Remember to cancel your current health care coverage at the same time your Medicare plan starts to avoid duplicate coverage.

NOTE: A popular option is to enroll in a Medicare Advantage plan (Part C) that already includes Part D prescription drug coverage. You’re welcome to contact MVP for more guidance, or contact the Social Security Administration or Medicare. must have Medicare A and B to enroll in a Medicare Advantage plan.

I want to continue paying for my Exchange plan rather than go on a Medicare plan because of better benefits. Select

  • You should consider enrolling in Medicare Parts A and B to avoid penalties later.
  • Know that when you become eligible for Part A, you will lose any premium tax credits or other savings you currently receive for your Exchange plan.
  • Be sure your Exchange plan has “creditable” prescription drug coverage (drug coverage that is as good as Medicare’s standard). If not, enroll in a Medicare Part D plan to avoid penalties later.

I am not eligible for Medicare Part A because I do not meet the federal government requirement of having worked 40 quarters, and I do not have a spouse that has worked 40 quarters and is at least age 62. Select

  • You may continue your coverage through the Exchange without enrolling in Medicare Parts A, B, or D. If you ever enroll in Medicare later on, you will have penalties for not getting Medicare when you turned age 65. However, there is no penalty if you never enroll in Medicare.

I am on someone else’s plan… Select

Choose the scenario you think will apply when you turn 65:

The subscriber of the plan will continue working beyond when I turn age 65. The employer will allow me to remain on the subscriber’s plan after age 65 while the subscriber is still working, and there are MORE THAN 20 employees. Select

  • You can delay enrolling in Medicare Part B until the subscriber retires. You should enroll in Medicare Part A if you are entitled to premium free coverage, since there is no cost to you.
  • Be sure the employer notifies your health plan carrier that they are going to continue your current coverage past age 65.
  • Ask the employer if your plan’s prescription drug coverage is “creditable” meaning it’s as good as Medicare’s standard. If not, you should consider enrolling in Part D to avoid penalties later. To enroll in Part D, you must also have Medicare Part A and/or Part B.
  • When the subscriber retires, contact the Social Security Administration to enroll in Medicare Parts A and B.

The subscriber of the plan will continue working beyond when I turn age 65 and I want to keep the employer group coverage but the employer has LESS THAN 20 employees. Select

  • You should enroll in Medicare Parts A and B to avoid penalties later, and because Medicare is primary coverage over an employer plan with less than 20 employees. If you do not get Medicare, you will pay much higher copays.
  • Be sure your employer plan has “creditable” prescription drug coverage (drug coverage that is as good as Medicare’s standard). If not, you may enroll in a Medicare Part D plan to avoid penalties later.

The subscriber of the plan will continue to work for their employer with LESS THAN 20 employees. But I want to terminate my dependent coverage and buy a Medicare plan on my own. Select

  • The subscriber should inform the employer group that you want to cancel your dependent coverage on the first day of the month you turn age 65.
  • You should contact the Social Security Administration to apply for Medicare Parts A and B within 3 months of turning age 65.
  • You should consider enrolling in a Medicare Advantage or supplemental plan if you want to enhance Medicare coverage.
  • You should consider enrolling in a Medicare Part D prescription drug plan to go along with your Medicare Advantage or supplemental plan.

The subscriber of my plan is retired, but we will continue coverage under the current Commercial (non-Medicare) plan. Select

  • You need to enroll in Medicare Parts A and B during the 3 months prior to turning age 65. Medicare will be your primary insurance, and the employer plan will be your secondary insurance.

The plan I am under will NOT continue to cover me when I turn age 65. Select

  • You should consider enrolling in Medicare Parts A, B and D to avoid penalties later. You can enroll in Medicare starting 3 months before you turn age 65.
  • If your coverage is currently through an employer (yours or a spouse’s employer), ask if they offer an employer sponsored Medicare plan for you. If they do not, you can enroll in a Medicare plan on your own once you have enrolled in Medicare A and B.
  • You should consider enrolling in Medicare Part D prescription drug coverage to avoid penalties later.
  • Remember to cancel your current health care coverage at the same time your Medicare plan starts to avoid duplicate coverage.

NOTE: A popular option is to enroll in a Medicare Advantage plan (Part C) that already includes Part D prescription drug coverage. You’re welcome to contact MVP for more guidance, or contact the Social Security Administration or Medicare. You must have Medicare A and B to enroll in a Medicare Advantage plan.

I am on a COBRA plan… Select

Choose the scenario you think will apply when you turn 65:

I want to keep my Cobra plan for as long as I can because the benefits are better than Medicare plans. Select

  • You should consider enrolling in Medicare Parts A and B to avoid penalties later, and because Medicare is primary coverage over Cobra.
  • If you don’t have Medicare Parts A and B, your Cobra plan carrier will “carve out” what should have been paid by Medicare, leaving you to pay much higher copays and coinsurance.
  • Be sure your Cobra plan has “creditable” prescription drug coverage (drug coverage that is as good as Medicare’s standard). If not, you should consider enrolling in a Medicare Part D plan to avoid penalties later.

I want to cancel my Cobra plan because it is too expensive. Select

  • You should request your Cobra plan to be canceled on the first day of the month you turn age 65.
  • You should request enrollment in Medicare Part A and B within 3 months of turning age 65.
  • Once you have enrolled in Medicare, you should consider enrolling in a Medicare Advantage plan or Medicare supplemental plan.
  • You should consider enrolling in Part D to avoid penalties later. You can join a Medicare Advantage plan that includes Part D, or a stand alone Part D plan if you have a Medicare supplemental plan.

For your convenience, you can also call:

1-800-324-3899 TTY: 1-800-662-1220

Experienced MVP Medicare Products Advisors are available Monday – Friday, 8 am – 8 pm Eastern Time.

Or call the MVP Medicare Customer Care Center Monday – Friday, 8 am – 8 pm at 1-800-665-7924 (TTY: 1-800-662-1220).
From October 1 – February 14, call us every day from 8 am – 8 pm.