A common question we get is “I am turning 65 soon and will be Medicare eligible but plan on still working and covered by my employer’s health plan, do I need to sign up for Medicare Part B?”
The answer: it depends. If your employer is under 20 employees and the health insurance carrier coordinates benefits with Medicare, like most health insurance carriers do, you should sign up for Medicare Part B since that would be primary coverage for Physician Care. If your employer is over 20 employees than it really comes down to a choice as Medicare would be secondary. Many times, beneficiaries can find more cost-effective coverage and better benefits in the Medicare insurance markets, especially if you contribute a high amount toward your employer sponsored coverage and/or have high deductibles. This chart is useful in understanding how Medicare works with other insurance.
You can access the chart here: