Seniors Work for Health Insurance

Many seniors aged 65 and older are choosing to work beyond traditional retirement age to access better health insurance options. Employer-sponsored health plans often provide more affordable coverage compared to individual plans available through the Affordable Care Act, which can have high premiums and deductibles.

Employer-based healthcare plans frequently offer extended coverage for employees and their spouses, including doctor visits, hospital stays, and prescription medications. These benefits often surpass those available through Medicare alone, which does not provide family plans. While Medicare covers emergency care, many seniors seek more comprehensive coverage.

In Florida, approximately 98.7% of seniors between 65 and 74 years old have health insurance, indicating a high level of coverage among this age group. However, it’s important to note that Florida ranks fourth in the United States for the percentage of residents under 65 without health insurance, with a rate of 13.9%. This suggests that while seniors are well-covered, younger adults may face challenges in obtaining health insurance.

For seniors considering working beyond 65, it’s essential to understand how employer-sponsored health insurance interacts with Medicare. If you have employer-based health insurance and plan to continue working past age 65, you can delay enrolling in Medicare Part B without penalty. However, if you have individual health insurance and are working full-time, you should enroll in Medicare Parts A, B, and D when turning 65 to avoid late enrollment penalties.

To find the best healthcare insurance for your family, some research may be required. It’s advisable to enroll in Medicare within three months of your 65th birthday as a precautionary measure. GreatFlorida Insurance can compare popular health insurance plans to find which ones fit your needs within your budget. Call us today.