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June 22, 2023

How to talk about Medicare without talking yourself into non-compliance

Shannon Vogel Lien

According to the Bureau of Labor Statistics, the number of employees working past the traditional retirement age is expected to reach 32% by 2030. This is compared to 27% in 2020 and 19% in 2000. This means a large number of baby boomers aren’t leaving the workforce any time soon.

In many ways, that can be good for business. When experienced employees walk out the door for the last time, a lot of knowledge and wisdom may leave with them. 

But what does it mean for your health care plan? A report from the National Library of Medicine found that older employees make more use of the health care system than their younger counterparts. In turn, that can have an effect on increased costs. It can also mean more out-of-pocket costs for the employee. So, what then?

Should you be the one to talk about Medicare with your employees?

This is where the world of Medicare gets difficult. The Centers for Medicare and Medicaid Services has specific rules governing what you can talk about with employees and what information needs to be handled by a certified expert. 

It’s important to be honest about what you know and what you don’t when it comes to this topic. Having partial knowledge of Medicare rules and regulations means you can easily cross a boundary you shouldn’t. If you decide to discuss Medicare with one or more of your employees, you could open your business to legal risk. Additionally, this may put the employee on the receiving end of life-long Medicare-imposed penalties. 

With that said, if you aren’t fully versed in this topic, don’t be discouraged. Medicare rules and regulations are incredibly complex and can be enormously confusing. That’s why working with a licensed Medicare broker from Marsh McLennan Agency (MMA) can be a smart move.

The advantages of working with a certified Medicare professional

Do you know the Medicare enrollment timelines? What impact does Medicare have on health savings accounts? If an employee decides to stay on the group plan, can they also be on Medicare? If they can, how do claims work? These are just a few of the many questions to know to help employees through the Medicare process. 

Most of us, no matter how well-versed we are, would have a hard time trying to fully and accurately articulate Medicare for every individual employee. This is the case even if we were certified to talk about it in depth. 

That’s why working with a licensed Medicare broker can help make your life easier. This also gives your employees the Medicare plans that fit their health needs.

Medicare rules and regulations are subject to change, often every year. Knowledgeable brokers are the ones who not only know what changes have occurred but also understand the impact.

We can help uncomplicate Medicare

Marsh McLennan Agency has professionals who are familiar with a wide range of available Medicare supplemental plans. Our specialists have deep experience working with Medicare and explaining it to employee groups. We’re here to guide you through the maze, help you review your options, and choose the right programs for your eligible employees.

To learn more, contact a Marsh McLennan Agency colleague today.