Medicare may be a cost-saving option to insure senior employees. You’re considered a small business owner if you employ fewer than 20 workers. If this is your situation, you need to enroll in Medicare when you are eligible in order to avoid paying a penalty later on.
However, if your business employs over 20 workers and you are on a group health plan, you can remain there until you retire or leave the business. Some high net worth owners and their employees can benefit greatly by not joining Medicare when eligible, but it’s very important to make Medicare decisions with the all the facts regarding potential costs, penalties, deductions and other factors. Business owners want to make their first decision the right decision.
Remember, every situation is different. Business owners should never make these decisions without help from a Medicare expert. Call today. (513) 451-8131