What Your Mature Workers Need to Know about Medicare
So many of us dream of living out our ‘golden years’ care-free, ideally healthy, and not having to worry too much. However, recent surveys and studies have indicated that many Americans considered to be in their “retirement years” are, in fact, still working at least part-time and plan to for years to come.
This can be an incredible benefit to so many businesses, companies, stores, organizations, and everything in between. The knowledge, perspective, history, guidance and everything else someone age 60+ has to add to a business, team or individual should be welcomed with open arms.
Depending on the size and scope of your business, you may or may not offer health insurance to your employees. There are plenty of experts and representatives out there to help guide you through that process if needed. If you do hire employees who are 65+ and thus Medicare-eligible, below are a few tips that will be great for you as an employer to ensure you understand and ensure they do too.
Every US citizen is eligible for Medicare at age 65 – even if your Social Security retirement age is 66 or later. You can enroll for Medicare at any point during the ‘initial enrollment period,’ which consists of a seven-month timeframe that includes the three months before, the month of, and the three months after your 65th birthday.
It is recommended that you enroll prior to your 65th to ensure your coverage is in line and in effect the day you turn 65.
Encourage Them to Shop Around
As an employer, your support and guidance will be appreciated. Encourage your Medicare-eligible employees to review various options available to them – whether it be online, via phone or in person with someone who can discuss it all in person.
There are a variety of resources available. HealthMarkets is one company that has more than 3,000 agents throughout the country available to walk through options from various insurance companies to help identify the right match. Alternatively, if you want to choose your health insurance for yourself, the company offers the opportunity to make your selection and purchase online.
Different Coverage Options
Depending on their individual health condition and needs, there are different options available through Medicare for various coverages. There are some plans that may include coverage for prescriptions, while others may offer discounts on gym memberships or other health services such as acupuncture. Again, encourage your employees to do their research and speak with experts who can provide guidance on the choices available to them at different price points.
Above all, embrace the talent and skills these older workers can bring to your team! Encourage their good health and promote the talent, knowledge and experience they can offer to your organization and the people in it.