AboutJohn D Smith, CFP Expertise I can answer detailed questions regarding mutual fund investing, retirement planning, education planning and related financial planning/investment issues. I have a B.S. degree in Financial Planning & Counseling. I am also a Certified Financial Planner (CFP) and have performed fee only investment management and financial planning services for the past 11 years.
Question I am fortunate in that my husband's job will continue our health plan after we retire.
I just read a sentence in a news publication that said a person could not collect Social Security if they do not subscribe to Medicare.
Does this mean that to collect the Social Security that I have paid into all my working life, I must pay into the Medicare system even though I will not be using it?
I could not find an answer on the government sites and there is not a provision to email them.
Thank you for any information that you can share.
Answer Hi. When you start collecting social security at the allowed retirement age, you also become eligible for medicare. At this point in time, if you carry private insurance, the private insurer will not cover medical costs that medicare also covers. However, the private insurance company will typcially cover costs that they normally would and that medicare does not. In other words, even though you do not need the coverage through medicare because of your husbands private insurance, medicare will still end up providing a benefit if costs are incurred. I hope this helps clarify.
