If You Are Actively Employed When You Reach Age 65
When you reach age 65, you become entitled to coverage under Medicare, the health plan administered through the Social Security Administration. Medicare coverage is not automatic; you must enroll through Social Security. You may delay enrolling in Medicare Parts A and B without a penalty as long as you remain covered under the Boston University Health Plan.
Your membership in the Boston University Health Plan will continue as your primary insurance as long as you are eligible and enrolled in a Boston University Health Plan regardless of your age. In the event you lose eligibility or when you retire from Boston University, you should contact the Social Security Administration by calling 1-800-772-1213 to enroll in Medicare. It is important to note that you may be assessed a penalty if you and/or your spouse are over age 65 and do not enroll in Medicare at the time you lose eligibility to participate in the BU Health Plan.
Medicare and the Health Savings Account
A Health Savings Account (HSA) is a tax-advantaged account used in conjunction with an HSA-eligible high deductible health plan (HDHP) that eligible individuals may establish to pay for current and future qualified medical expenses for themselves, their spouse, and their qualifying dependents. The BU Health Savings Plan is an HSA-eligible HDHP. You cannot contribute to a Health Savings Account if you are enrolled in Medicare.
Based on these IRS regulations, you should carefully consider your health plan options when enrolling in Medicare.
Coverage through Medicare
Additional information regarding Medicare can be found at Medicare Benefits Summary.