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Medicare guide · 11 min read

Working past 65 — when you can defer Medicare, and when you absolutely cannot

About 20% of Americans aged 65+ are still working. The rules for deferring Medicare while you keep employer coverage are simple in theory and brutal when you get them wrong — a $20,000 medical bill with no insurance backup, or a permanent late-enrollment penalty that follows you for life. This guide walks through the actual decision tree the way a fee-only fiduciary would.

The single most important question

How many employees does your current employer have?

The 20-employee rule explained

Federal "Medicare Secondary Payer" rules dictate which insurance is primary when you have both Medicare and group employer coverage. For employers with 20 or more employees, the group plan is primary and Medicare is secondary. For employers with fewer than 20, Medicare is primary and the group plan is secondary.

"Secondary" in insurance language means the insurer pays only after the primary insurer has paid. If you have a small-employer plan but haven't enrolled in Medicare, the small-employer plan effectively pays nothing — they assume Medicare paid first, deduct what Medicare would have paid, and pay the remainder. With no Medicare, you're on the hook for the entire "Medicare would have paid" portion. We've seen this trigger $30,000-$70,000 surprise bills after a hospitalization.

Step 1 — confirm your employer size in writing

Don't guess. Ask HR or your benefits administrator in writing: "Does our company have 20 or more employees for Medicare Secondary Payer purposes?" Save the email or letter. The headcount that matters is total employees company-wide for the prior calendar year, not just your office.

Step 2 — confirm "creditable coverage" status

Even at large employers, you need to confirm your group plan is "creditable coverage" for Medicare deferral. Three pieces:

The HSA exception — when not to enroll in Part A

Once you're enrolled in Medicare Part A — even premium-free Part A — you cannot contribute to a Health Savings Account. If you're working past 65 and contributing to your employer's HSA-eligible health plan, you should typically defer Part A as well as Part B until you stop HSA contributions.

Critical detail: when you eventually enroll in Part A, the enrollment is retroactive up to 6 months. That means HSA contributions from the 6 months before your Part A effective date become "excess contributions" subject to a 6% IRS excise tax. Stop HSA contributions at least 6 months before applying for Part A.

If you've already started receiving Social Security retirement benefits, you cannot defer Part A — Social Security automatically enrolls you. The only way to opt out is to disclaim Social Security entirely, which usually isn't worth it.

The COBRA trap

COBRA is not "current employer coverage" for Medicare deferral purposes. If you turn 65 while on COBRA, the 8-month Part B Special Enrollment Period that normally protects you when leaving employment doesn't apply. The clock for late-enrollment penalties keeps ticking.

People lose 65th birthdays to this all the time:

If you're on COBRA approaching 65, enroll in Part B during your IEP regardless of COBRA. You can keep COBRA as secondary, but Medicare must be primary.

Step 3 — when the time comes, the SEP

When you eventually retire or lose group coverage:

Form CMS-L564 — the employer creditable coverage letter

When you enroll in Part B after 65, Social Security may ask you to prove you had creditable employer coverage during the deferral period. Form CMS-L564 is the form. You fill out Section A (your information). Your employer fills out Section B (your group coverage dates). Both go to Social Security with your Part B application.

Get this form started before your retirement date. If you wait until after, it becomes a chase — your former HR department needs to fill it out and many employers slow-walk it. Some retirees have ended up paying late penalties because the form took 6 weeks and their SEP closed in the meantime.

Decision tree summary

  1. Get your employer size in writing. 20+ vs less than 20 changes everything.
  2. If less than 20: enroll in Medicare during your IEP. The group plan is secondary, and skipping Medicare creates massive coverage gaps.
  3. If 20+: get the creditable coverage letter. Decide on Part A based on HSA contributions. Defer Part B until you retire.
  4. HSA contributors: stop HSA contributions 6 months before any Medicare enrollment.
  5. Retirement coming up: get Form CMS-L564 started early. Enroll in Part B during the 8-month SEP. Use your Medigap MOE to lock in the cheapest Plan G.
Sources
· Medicare.gov — How Medicare works with other insurance (Medicare Secondary Payer rules)
· CMS — Form CMS-L564 (Request for Employment Information)
· IRS Publication 969 — Health Savings Accounts and Other Tax-Favored Health Plans
· 42 U.S.C. § 1395y(b) — Medicare Secondary Payer statute
· Fidelity Medicare Services — Working past 65 employer coordination guide

Plan ahead — pick your Medigap before you need it

Your one-time Medigap Open Enrollment window starts the month your Part B becomes effective. Run the comparison tool before that date so you know which carrier offers the cheapest Plan G in your state. Same coverage, often $1,500-$2,400 less per year.

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