7 hours and 17 minutes to go

[sam_gordon]

I picked my retirement date based on health insurance/ Medicare. At my company, as long as you work a full shift in a month, you’re covered on their health insurance until the end of that month. So I worked 1 day in the month before my 65th birthday & had my employer provided health insurance until the last day of the month. The 1st day of my birthday month, my Medicare started.

And BTW, retirement is awesome. Highly recommend.

So Medicare can start before you turn 65? I get that we're only talking 3-4 weeks, but I thought you had to be 65.

 

[slo]

I’m 13 days until I get to make my ADRs for our WDW trip that is 73 days away

 

[3rd_time_the_charm]

And here we are again today. Wishing our lives away. But it’s good to have something to look forward to!

 

[lanejudy]

So Medicare can start before you turn 65?

For most, Medicare can be set to take effect on the first of the month that you will turn 65. If your birthday is the first, Medicare will start the month prior.

 

[sam_gordon]

For most, Medicare can be set to take effect on the first of the month that you will turn 65. If your birthday is the first, Medicare will start the month prior.

Thanks! I didn't know that. Hmmm... that gives me another possible date then. lol

 

[ronandannette]

I’m 13 days until I get to make my ADRs for our WDW trip that is 73 days away

I’m 7’ish years away from retirement, so there’s no point starting to count down to that. Let’s focus on vacation!! We leave for London in exactly 3 weeks.

 

[focusondisney]

So Medicare can start before you turn 65? I get that we're only talking 3-4 weeks, but I thought you had to be 65.

It covers you for the whole month, so starts the 1st day of the month. You can apply from 3 months before you turn 65 until 3 months after. If you sign up before your birthday month, it will start day 1 of your birthday month. If you sign up during your birthday month or in the 3 months after, it will start day 1 of the following month.

Note: Part A that covers hospitalization, is paid for by premiums you’ve been paying your whole life. If you don’t sign up in those 7 months when you’re initially eligible, there is a lifelong penalty. This applies even if you have employer provided health insurance. There is no charge/ premium for Part A once you are eligible. So it’s best to start at least Part A when you turn 65, to avoid the life long penalty.

 

[sam_gordon]

It covers you for the whole month, so starts the 1st day of the month. You can apply from 3 months before you turn 65 until 3 months after. If you sign up before your birthday month, it will start day 1 of your birthday month. If you sign up during your birthday month or in the 3 months after, it will start day 1 of the following month.

Note: Part A that covers hospitalization, is paid for by premiums you’ve been paying your whole life. If you don’t sign up in those 7 months when you’re initially eligible, there is a lifelong penalty. This applies even if you have employer provided health insurance. There is no charge/ premium for Part A once you are eligible. So it’s best to start at least Part A when you turn 65, to avoid the life long penalty.

Thank you so much! I had no idea. Since I'm still many years out, I hadn't looked that close at the details. I just knew you had to be 65 to qualify.

I really appreciate the information!

 

[slo]

I’m 7’ish years away from retirement, so there’s no point starting to count down to that. Let’s focus on vacation!! We leave for London in exactly 3 weeks.

I love this for you!
I’m hoping to travel there one day
I hope you have the best trip!

 

[dez1978]

How did you all pick your retirement date? Your birthday? Anniversary with the company? End of a year?

I have less than 10 years, but can't decide, and I know I don't need to yet, which of those I want to go with. Just curious what others have done.

I work for the state. So mine is set with some 80 and out formula. Your age + years of service+80. So my earliest eligible retirement date is may 30, 2030. After that I could stay and do whats called backdrop, but you have to do a min of 2 years and a max of 5. So I guess it really depends for me what our finances are and how much I could get insurance for privately at that time bc I'll only be 52, and still have a kid in high school and my job carries the insurance.

 

[lanejudy]

If you don’t sign up in those 7 months when you’re initially eligible, there is a lifelong penalty. This applies even if you have employer provided health insurance.

Sorry but this is not exactly accurate.

The initial “open enrollment” to sign up for Medicare is that 7 month period. But if you currently have “qualified/creditable coverage” (such as through an employer) you are NOT required to sign up for Medicare unless you wish. You can sign up later during a “special enrollment” period if you lose that qualified coverage (such as a job loss, a retirement, death of a spouse, etc.) without the penalty. You will need to prove the qualifying coverage which the employer should be able to do easily.

ETA: it is dependent on one’s specific situation, so always advised to check with your HR/Benefits office and your financial planner.

 

[Dan Murphy]

Interesting, creative, short (7 minutes) animated video on retirement. (there is one expletive (not the 'big bad one') almost at the end, was not able to silence. If need be, I will delete this post) I thought the short video was 'appropriate for this thread.

https://en.wikipedia.org/wiki/Retirement_Plan_(film)

2026 Nominee Oscar

• Best Animated Short Film

Plot​

Overwhelmed by his life, middle-aged man Ray dreams about his retirement, planning everything he'd like to do once he finally has time for himself.

 

[focusondisney]

Sorry but this is not exactly accurate.

The initial “open enrollment” to sign up for Medicare is that 7 month period. But if you currently have “qualified/creditable coverage” (such as through an employer) you are NOT required to sign up for Medicare unless you wish. You can sign up later during a “special enrollment” period if you lose that qualified coverage (such as a job loss, a retirement, death of a spouse, etc.) without the penalty. You will need to prove the qualifying coverage which the employer should be able to do easily.

ETA: it is dependent on one’s specific situation, so always advised to check with your HR/Benefits office and your financial planner.

Thank you. That’s true & I should have worded it differently. The credible coverage is key, ex cobra may not be credible. There is no charge for Part A & for most people, no reason to not sign up. Some employers in my area have required eligible employees/ retirees to sign up for part A as a condition of continuing employer health insurance.

It definitely can be complicated so contacting the Medicare office a few months before age 65 is the best source of information.

 

[princesscinderella]

I have a new counter to add 329 days until I see Metallica at the Sphere!! I have never been to Vegas so I am excited. We got the vacation package that include both shows that weekend in Jan 2027 since they won't repeat any songs in the Thursday & Saturday sets so each concert will be unique.

 

[3rd_time_the_charm]

I have a new counter to add 329 days until I see Metallica at the Sphere!! I have never been to Vegas so I am excited. We got the vacation package that include both shows that weekend in Jan 2027 since they won't repeat any songs in the Thursday & Saturday sets so each concert will be unique.

My friend. I’m so confused. YOU haven’t been to Vegas?! not surprised about Metallica - my house is jealous!

 

[lanejudy]

Some employers in my area have required eligible employees/ retirees to sign up for part A as a condition of continuing employer health insurance.

Retirees, yes, because Medicare becomes primary and usually employer retiree plans are designed to work with Medicare A+B similar to how medigap works.

Actively employed, however, only if the employer’s plan covers <20 employees or does not meet the creditable coverage criteria would there be any reason to require active employees to get Medicare at 65. Otherwise it makes no sense and may be illegal because the employer must offer the same coverage regardless of the employee’s age. There is no impact to the employer’s offered healthcare benefit and no savings to the employer because the employer coverage remains primary with Medicare as secondary coverage; all that does is require an employee to pay an extra premium for Medicare and potentially get no value from it.

 

[focusondisney]

Retirees, yes, because Medicare becomes primary and usually employer retiree plans are designed to work with Medicare A+B similar to how medigap works.

Actively employed, however, only if the employer’s plan covers <20 employees or does not meet the creditable coverage criteria would there be any reason to require active employees to get Medicare at 65. Otherwise it makes no sense and may be illegal because the employer must offer the same coverage regardless of the employee’s age. There is no impact to the employer’s offered healthcare benefit and no savings to the employer because the employer coverage remains primary with Medicare as secondary coverage; all that does is require an employee to pay an extra premium for Medicare and potentially get no value from it.

Except I said Part A & there is no extra premium for Part A. It’s is all very complicated for sure. The biggest takeaway being to prevent unpleasant surprises, like a lifetime penalty, everyone should contact Medicare for the current rules & recommendations for their particular situation as they approach 65.

 

[princesscinderella]

My friend. I’m so confused. YOU haven’t been to Vegas?! not surprised about Metallica - my house is jealous!

Nope, it will be my first time on the Vegas strip. I'm surprised we have never been too, I figured one of my husband's conferences would make it there eventually. I think they never pick Vegas because people will be too busy enjoying all the fun stuff and not going to the meeting classes. Nope, it will be my first time on the Vegas strip. I still haven't played in snow ever too since I'm a born and raised Florida girl. I have been on a glacier in Iceland though.