I Have Health Insurance Do I Need Medicare?

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   Ted Ratliff

   Owner, SFS Associates,

   If you have group coverage you may not need to pick up Medicare part B right away depending on the size of your group. Medicare coordinates with your health insurance. For smaller groups it will be primary, for larger groups it would be secondary. Primary means that Medicare pays first and your health insurance would act like a supplement. Secondary means that your insurance pays first and Medicare would just help pay any deductibles and copay's. You do not need a Medicare supplement if you have group health insurance in most cases. If you have prescriptions covered at work do not pick up a Medicare Advantage plan or prescription drug plan without discussing it with your HR rep. You could get knocked off your group coverage and not be able to get it back.

   Answered on April 21, 2013

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