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Dropping Medicare with other coverage

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Dropping Medicare with other coverage

I'm 61 and still working full-time.  My wife is 70 and has been on Medcare for a few years.  Soon after she started Medicare, I realized that the amount I was paying for her coverage through my work wasn't worth it, so I dropped it.  She has been on Medicare exclusively and it works fine. 

 

But now, I have a new job and the medical insurance is ridiculously inexpensive.  So I signed both of us up.  Now I'm thinking about dropping her Part B because we just don't need it.  Any catch that I should be aware of?  The only thing I found is that she can't have a gap of more than 8 months or there is a penalty.  So obliviously, when the day comes that I lose that coverage, we will make sure to sign her up again for Part B.  At that point, I'll probably being doing the same for myself.

 

Is there any reason I shouldn't drop Part B for my wife?

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Your wife can drop her Part B but there are some things that have to done and some things that she needs to be aware of and acknowledge.

 

Medicare.gov - How to drop Part B

 

There has been a recent change in when coverage will start when she want to start her Part B again instead of being in the General Enrollment Period and having to wait for it to kick back in July 1 - it will now restart the beginning of the month following her re-up.

SSA.gov New Start Dates for Medicare Part B coverage coming in 2023\

 

When she calls / or goes to local office to cancel her Part B she will have to have an interview to cancel it - they just want her to understand these conditions.

 

Also, does she have a Medigap plan that works with her Traditional Medicare?  If so, that will also have to be cancelled and I am not sure whether or not she will have another period to buy one without underwriting when she picks back up Part B again.  She may have to pay more for it or the Medigap plan may deny her - or may deny a preexisting condition for a period of time.  Check with your states Department of Insurance to see what rules might be in play for this important consideration.

It's Always Something . . . . Roseanna Roseannadanna
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No Medigap. Just pure Part B. From everything I've read, I don't anticipate a problem.  Just wanted to make sure

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