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Medicare & Spousal Coverage

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Are you wondering what you need to consider for your spouse's health insurance as you approach Medicare? Well, you are not alone. We're here to explain spousal coverage with Medicare in one minute.

First off, it's important to understand that Medicare is not a family plan. Medicare is an individual plan. And so if you have a spouse who is not qualified for Medicare, you've got a couple of options that you can look at. Some of the options might be an employer plan where they work or an independent Marketplace plan, or if they only need something short-term, a short-term plan.

Another option might be COBRA through your current employer which would be an extension of the plan you currently have for a period of 18 months. If you decide to delay your Medicare and continue to work in order to cover your spouse, when your spouse reaches 65, you will both have opportunities to select your Medicare without any penalties.

If you decide you want to go ahead and retire at age 65, obviously your spouse will need to pick up some coverage until they reach their initial enrollment period (IEP) at age 65 and can enroll in Medicare themselves.

There are a lot of things to consider when it comes to spousal coverage because everyone's situation is so different. And because of those differences, it's important to make sure that you get the right information for your situation. Please click the link below or give us a call and we'll be happy to answer questions to your situation. You'll be glad you did.