Belong

Overview

Reaching Medicare eligibility is a major milestone, and for most people, it raises lots of questions. The following information and resources can help you understand the benefits available to you and when to enroll.

Enrolling | Penalty-Free Period | Coordination with Your Nutanix Plan | Impact to HSA | Support: MyAdvocate and Medicare.gov

Enrolling

You’re eligible to sign up for Medicare during a seven-month Initial Enrollment Period (IEP). Your IEP begins three months before you turn 65 and continues until the last day of the third month after you turn 65. If you don’t enroll during this time, you may have to pay a late enrollment penalty.

Your Medicare benefits are divided into three parts:

  • Part A covers inpatient hospital services.
    In addition to inpatient hospital services, Part A covers care in a skilled nursing facility or hospice. Note that it does not cover outpatient emergency room visits. You’re eligible to sign up for Part A during the seven-month IEP). It's essential that you sign up during this time or you may have to pay a late enrollment penalty. For the majority of people who sign up on time, Part A is premium free.
  • Part B covers doctor visits and preventive care.
    There are specific timing requirements to sign up for Medicare Part B. If you don't enroll on time, you'll pay a higher monthly premium. You can sign up for Part B within your first eligible IEP without paying higher monthly premiums. You'll also have the opportunity to enroll in Part B during the eight-month Special Enrollment Period (SEP) after your Nutanix medical coverage ends without paying a late penalty.
  • Part D covers prescription drug costs through a private insurance plan approved by Medicare.
    You have the option to enroll in a stand-alone Part D prescription drug plan, or to elect a Medicare Advantage plan for medical coverage that includes prescription coverage. Keep in mind: If you don’t enroll in Part D during the IEP or within exactly 63 days after your employer-provided prescription drug benefits end, you'll have to pay a penalty and prescription drug benefits may be delayed, causing you to pay the retail cost for expensive prescriptions.

Visit www.medicare.gov for more information and to enroll.

Penalty-Free Period

If you don’t enroll for Medicare during your IEP, you can enroll in Medicare without a penalty for up to eight months after you retire, assuming you’re covered by a Nutanix medical plan (not including coverage through COBRA). (If you’re not enrolled in a Nutanix medical plan, you must enroll during your IEP or you'll pay a penalty.)

There are two rules to know about this eight-month special enrollment period:

  1. If you retire within your IEP, you will not be eligible for this eight-month special enrollment period when you retire.
  2. COBRA coverage doesn’t count as employer coverage, so the eight months begin when you leave Nutanix, not when your COBRA coverage ends.

The same applies for your spouse, if you cover them as a dependent on your Nutanix medical plan. Your spouse has up to eight months after their employer coverage ends to enroll in Medicare Parts A and B without a penalty.

Coordination with Your Nutanix Plan

If you enroll in Medicare and simultaneously continue your current Nutanix medical coverage, your Nutanix plan will be the primary plan that pays your medical bills first, and Medicare will be secondary. You may have to pay an outstanding balance for any costs not covered by your Nutanix plan or Medicare.

Impact to HSA

If you enroll in Medicare Part A or B, you can’t continue to contribute to your Health Savings Account (HSA) and would no longer be eligible to participate in the UHC CDHP medical plan. This is because the plan and the HSA are combined and you can’t have any other health insurance when enrolled in this plan type. However, any savings you accumulated in your HSA will always be yours, and you can continue to withdraw money from it to pay for qualified medical expenses, tax free.

Support: MyAdvocate & Medicare.gov

Visit www.medicare.gov for more information.

Your personal health assistant with MyAdvocate can also walk you through your Medicare choices to help you make the best decision. For assistance, call MyAdvocate at 833-968-1775 or visit the MyAdvocate website.