(Credit: CMS)
Some Medicare enrollment questions come from workers past the usual retirement age who are still using their employer's health plan.
Here's one that's probably on the minds of many Medicare-eligible employees going into the new year.
I'm over 65 and still working full-time. I have health coverage through my employer. What are the benefits of switching to Medicare in 2021?
There are a few key reasons those eligible for Medicare should consider making the switch, primarily lower cost, wider coverage and greater satisfaction. According to a recent Kaiser Family Foundation employer health survey, premiums for employer healthcare are up by as much as 4% and deductibles have increased by 25% over the past five years.
For those with employer-sponsored health plans, the average deductible amount for single coverage is $1,644, and less than half of people with employer plans are satisfied with the choice of provider networks available. There are also more out-of-pocket costs for hospital admission and outpatient surgery under employer healthcare plans.
Medicare premiums are increasingly slightly in 2021, and Medicare offers greater coverage options, covering 93% of primary care doctors nationwide. The standard premium for Medicare Part B will be $148.50 in 2021, compared with $144.60/month in 2020. In addition, the Part B deductible is $203 and many times it is $0 with a Medicare Advantage plan.
If you're less than satisfied with your current employer-sponsored health plan, making the switch to Medicare could be the answer. According to a survey conducted by Insure.com, 78% of Medicare beneficiaries indicated satisfaction with their insurance coverage, compared with only 60% of those with employer coverage.
And if you've recently seen your health care costs increase, now is a great time to speak with a Medicare specialist about your options. Individuals over the age of 65 are more likely to have a higher rate of chronic illnesses and higher overall healthcare costs, but with Medicare's rates locked in for the year, switching now could lead to significant healthcare savings in 2021.
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Bethany Cissell is a health care insurance services specialist at 
