1. How Does Medicare Work with Other Insurance?

This is a question I often get asked and the response is: it depends. When you become eligible for Medicare, it's important to understand how it coordinates with other insurance policies you may have. This includes employer-sponsored group health coverage, retiree benefits, Veterans Affairs (VA) benefits, and TRICARE (usually TRICARE For Life).

Typically, if you're employed and your company has 20 or more employees, your group health insurance is primary, and Medicare serves as secondary coverage. Conversely, if your employer has fewer than 20 employees, Medicare usually becomes the primary payer.

However, many times it can be worth it to look at whether to fully transition to Medicare coverage and drop the group employer coverage, or delay Medicare coverage and stay on the group only coverage for budget purposes. For this, we just compare the two options, and I let you know which is better and we go with that. Everyone's group employer options are different, so this can only be done on an individual basis.

If someone has VA coverage or TRICARE For Life, you really don't need anything extra as your TRICARE For Life will essentially act as a Medicare Supplement (or Medigap) policy and be secondary payer to Medicare and keep your out of pocket costs low. Also, depending on whether you use the VA healthcare system or not, there are other what's called MA only plans that can offer you extra benefits that don't affect your TRICARE For Life or VA coverage in any way. This again just requires an individual consultation to determine what route would be best for you. The good thing about having VA or TRICARE though when it comes to Medicare, is you're going to have great coverage and great options.

Navigating through these options can be quite complex, so seeking personalized guidance is crucial. For assistance coordinating your Medicare benefits with other insurance policies you might have, contact me at 615-579-7592 or email joel@wellnessinsurance.info. I'd be happy to help (and again it's no charge to you).