Medicare Health Insurance Options for Late Retirees

Explore your Medicare options with MVP Health Care based on your current coverage—whether through an employer, Exchange plan, or someone else’s plan—and get expert guidance to avoid penalties and find the right plan.

Medicare Health Insurance Options for Late Retirees

Explore your Medicare options with MVP Health Care based on your current coverage—whether through an employer, Exchange plan, or someone else’s plan—and get expert guidance to avoid penalties and find the right plan.

Find What to Do for Your Situation 

Moving to Medicare Advantage presents new options for health care coverage, and everyone’s situation is different. Choose the circumstance that currently applies to you: 

I Have Coverage Through an Employer (or Former Employer) With 20 or More Employees 

Choose the appropriate scenario for your coverage: 

  • My Company Offers an Employer-Sponsored Medicare Plan for Retirees 

    Take these steps as you prepare to enroll in Medicare: 

    • You can delay enrolling in Medicare Part B until you retire. You should have enrolled in Medicare Part A when you turned 65 if you were entitled to premium free coverage. 
    • When you retire, contact the Social Security Administration to enroll in Medicare Parts A and B. 
    • Be sure your employer group plan has “creditable” prescription drug coverage (drug coverage that is as good as Medicare’s standard). If not, you may enroll in a Medicare Part D plan to avoid penalties later. 

     

    NOTE: A popular option is to enroll in a Medicare Advantage plan (Part C) that already includes Part D prescription drug coverage. Contact us for more guidance, or contact the Social Security Administration or Medicare. You must have Medicare A and B to enroll in a Medicare Advantage plan. 

  • My Company Doesn’t Offer Coverage to Retirees

    Take these steps as you prepare to enroll in Medicare: 

    • If you haven’t already done so, you should enroll in Medicare parts A, B, and D. If you didn’t enroll within three months after your 65th birthday, you may incur penalties. 
    • You should enroll in a Medicare plan on your own once you’ve enrolled in Medicare A and B (if you haven’t already done so). 
    • Remember to cancel your current health care coverage at the same time your Medicare plan starts to avoid duplicate coverage.  

    NOTE: A popular option is to enroll in a Medicare Advantage plan (Part C) that already includes Part D prescription drug coverage. Contact us for more guidance, or contact the Social Security Administration or Medicare. You must have Medicare A and B to enroll in a Medicare Advantage plan. 

I Have Coverage Through an Employer With Fewer Than 20 Employees 

Take these steps as you prepare to enroll in Medicare:  

  •  If you haven’t already done so, you should enroll in Medicare parts A, B, and D. If you didn’t enroll within three months after your 65th birthday, you may incur penalties. 
  • You should enroll in a Medicare plan on your own once you’ve enrolled in Medicare A and B
    (if you haven’t already done so). 
  • Be sure your employer group plan has “creditable” prescription drug coverage (drug coverage that is as good as Medicare’s standard). If not, you may enroll in a Medicare Part D plan to avoid penalties later. 
          


NOTE: A popular option is to enroll in a Medicare Advantage plan (Part C) that already includes Part D prescription drug coverage. Contact us for more guidance, or contact the Social Security Administration or Medicare. You must have Medicare A and B to enroll in a Medicare Advantage plan. 

 

I Have Coverage Through an Individual Exchange Plan 

I Want to Continue Paying for My Exchange Plan Rather Than Go on A Medicare Plan Because of Better Benefits 

Keep these options in mind as you near retirement: 

  • If you haven’t already done so, you should consider enrolling in Medicare parts A and B. If you didn’t enroll within three months after your 65th birthday, you may incur penalties. 
  • Know that when you become eligible for Part A, you’ll lose any premium tax credits or other savings you currently receive for your Exchange plan. 
  • Be sure your Exchange plan has “creditable” prescription drug coverage (drug coverage that is as good as Medicare’s standard). If not, you may enroll in a Medicare Part D plan to avoid penalties later. 


I’m on Someone Else’s Health Plan 

Choose the appropriate scenario for your coverage: 

  • The Subscriber/Planholder  Will Continue Working Beyond When I Turn Age 65. The Employer Will Allow Me To Remain on The Subscriber’s Plan After Age 65 While the Subscriber Is Still Working, and There Are More Than 20 Employees.

    Keep these options in mind as you near retirement: 

    • You can delay enrolling in Medicare Part B until the subscriber retires. You should have already enrolled in Medicare Part A if you are entitled to premium free coverage. 
    • Check to see if your plan has “creditable” prescription drug coverage (drug coverage that is as good as Medicare’s standard). If not, you may enroll in a Medicare Part D plan to avoid penalties later. You must also have Medicare Part A and/or Part B to enroll in Part D. 
    • When the subscriber retires, contact the Social Security Administration to enroll in Medicare Parts A and B. 
  • The Planholder Will Continue Working Beyond When I Turn Age 65, and I Want to Keep the Employer Group Coverage, but the Employer Has Fewer Than 20 Employees.

    Keep these options in mind as you near retirement: 

    • You should already have enrolled in Medicare parts A and B. If you didn’t enroll within three months after your 65th birthday, you may incur penalties. 
    • Be sure your Exchange plan has “creditable” prescription drug coverage (drug coverage that is as good as Medicare’s standard). If not, you may enroll in a Medicare Part D plan to avoid penalties later. 
  • The Planholder Will Continue to Work for Their Employer With Fewer Than 20 Employees. But I Want to Terminate My Dependent Coverage and Buy a Medicare Plan on My Own.

    Take these steps as you prepare to enroll in Medicare: 

    The subscriber should inform the employer group that you want to cancel your dependent coverage. 

    You should contact the Social Security Administration to apply for Medicare parts A and B. If you didn’t enroll within three months after your 65th birthday, you will have to pay a penalty. 

    You should consider enrolling in a Medicare Advantage or supplemental plan if you want to enhance your Medicare coverage. 

    You should consider enrolling in a Medicare Part D prescription drug plan to go along with your Medicare Advantage or supplemental plan. 

MVP Health Plan, Inc. is an HMO-POS/PPO  organization with a Medicare contract. Enrollment in MVP Health Plan depends on contract renewal. Health benefit plans are issued by MVP Health Plan, Inc., an operating subsidiary of MVP Health Care, Inc. Not all plans available in all states and counties. Out-of-network/non-contracted providers are under no obligation to treat MVP Health Plan members, except in emergency situations. Please call our customer service number or see your Evidence of Coverage for more information, including the cost-sharing that applies to out-of-network services. For accommodations of persons with special needs at meetings, call 1-800-324-3899 (TTY 711).

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Last updated: 10/1/26

Speak to a Representative

To shop for a plan, contact an MVP Medicare Advisor at 1-800-324-3899 (TTY 711)

For questions about your plan, contact the MVP Medicare Customer Care Center at 1-800-665-7924 (TTY 711). If you have an MVP DualAccess plan, call 1-866-954-1872 (TTY 711).

From April 1-September 30, reach us Monday-Friday, 8 am-8 pm. 

From October 1-March 31, reach us seven days a week, 8 am-8 pm.

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