My mother works full-time at age 70, my father (71) is disabled and has been disabled for 30+ years. She works as a cashier at a drug store where the prescription costs are reasonable. She states that she needs to continue working because of the insurance benefits and prescription benefits. My father has many health issues and requires multiple doctor visits, she pays out of pocket to have a handy-ride type transportion. I worry because she has had major back surgeries and had a stroke last year requiring a carotid endarterectomy. She does all of her own shopping, cooking and cleaning as my father is unable to help due to his health issues. She has worked all of her life. She says that she cannot collect Medicare or Social Security benefits (?) because she is working full-time. She enjoys working but would like to work part-time but cannot afford to.
1. How big a company is the drug store company (more or less than 20 employees matters)?
2. Why does it matter that the drug store has good prescription costs?
3. What kind of insurance does she have and does it cover the couple or just her? Or is the husband on Medicare through his disability?
4. Is she not signed up for Medicare at all or is she signed up but not using it (I am concerned she might have to pay five years of late sign-up payments depending on answers to other questions)
Social Security is a different issue. As someone else here says, she can collect it. Depending on her/couple's income she might pay some taxes on it however.
We both are pushing 70 years old, we signed up for Medicare during the year we turned 65... and at that time we also signed up for secondary insurance. Sig gets his secondary from his employer. I pay for my outright because I am an independent contractor.
Medicare is great, it pays a lot things up to 80%... with the remaining 20% being picked up by the secondary insurance. What Medicare doesn't cover, some secondary insurance will cover all or part of the payment. Yes, we do pay for Medicare [it comes out of our monthly social security].
If one doesn't sign up for Medicare when turning 65, then the monthly premiums will be higher at the time you do sign up. My Mom learned that the hard way as when she turned 65 she stayed on Dad's corporate health insurance until he turned 65 four years later.... oops, Mom had to pay higher premiums.