Greetings Non-US Bogleheads.
I realize this forum is for non US investing and this is not actually investing. If I should be posting somewhere else, please let me know. I just thought I would get more eyes with experience on my post here.
I have a question concerning Medicare as an expat. My wife and I are US citizens living in Austria. Neither of us are working. I turn 65 this year and need to consider what to do about Medicare. I am not currently receiving Social Security and I am flexible with when I do. We don’t plan to return to the US but I know, one never knows. We don’t visit the US nearly as much as we thought we would. Only once in three years. We have a home in the US and plan to sell it this year. We thought we would split our time between the US and Austria but we don’t, so the home is just expense and liability. That would be our last physical tie to the US. Then we would change our addresses to Austria. We have no interest in keeping an address with a mail service that looks like a physical address or pretending to have an address at a friend’s or relative’s address. I have seen a post here addressing many of these issues but I am particularly interested in hearing from someone eligible for Medicare and living permanently abroad and not pretending to still be in the US. What has your experience been? What should I know?
My understanding is that if I am receiving SS when I turn 65, I am automatically enrolled in part A. What about part B. Is that automatic? If I choose not to pay for part B, do just not enroll or do I need to unenroll if I am automatically enrolled?
What happens if I am not receiving SS and turn 65? Am I automatically enrolled? Should I enroll at that time? What happens if I don’t enroll at that time? Do I take some action? Should I take some action? Am I potentially stepping on a land mine that will create problems by not enrolling at 65? I have no resistance to enrolling at 65. I just want to get it right and not create any irreversible issues.
I am aware of the 10% per year penalty for postponing part B. I also see that if one has credible coverage that is at least as good as Medicare with a public health insurance abroad, the part B penalty can potentially be avoided if one returns and applies later. Is that for everyone or just if you are working?
Many people suggest paying for part B just in case one returns to avoid penalties and also to have access to Medicare for a major procedure. I think the health care in Austria is top notch and you can’t always jump on a plane and cross the Atlantic with many illnesses. Also, after two years, most doctors drop you as a patient. Now you have to get to the US, find a doctor who accepts your coverage and is accepting new patients. I question whether paying part B is worthwhile for a “just in case”scenario or just pay the higher premium if we return.
I would be grateful to hear experiences of anyone with knowledge of this issue or is in a similar situation. Thank you all very much.
I realize this forum is for non US investing and this is not actually investing. If I should be posting somewhere else, please let me know. I just thought I would get more eyes with experience on my post here.
I have a question concerning Medicare as an expat. My wife and I are US citizens living in Austria. Neither of us are working. I turn 65 this year and need to consider what to do about Medicare. I am not currently receiving Social Security and I am flexible with when I do. We don’t plan to return to the US but I know, one never knows. We don’t visit the US nearly as much as we thought we would. Only once in three years. We have a home in the US and plan to sell it this year. We thought we would split our time between the US and Austria but we don’t, so the home is just expense and liability. That would be our last physical tie to the US. Then we would change our addresses to Austria. We have no interest in keeping an address with a mail service that looks like a physical address or pretending to have an address at a friend’s or relative’s address. I have seen a post here addressing many of these issues but I am particularly interested in hearing from someone eligible for Medicare and living permanently abroad and not pretending to still be in the US. What has your experience been? What should I know?
My understanding is that if I am receiving SS when I turn 65, I am automatically enrolled in part A. What about part B. Is that automatic? If I choose not to pay for part B, do just not enroll or do I need to unenroll if I am automatically enrolled?
What happens if I am not receiving SS and turn 65? Am I automatically enrolled? Should I enroll at that time? What happens if I don’t enroll at that time? Do I take some action? Should I take some action? Am I potentially stepping on a land mine that will create problems by not enrolling at 65? I have no resistance to enrolling at 65. I just want to get it right and not create any irreversible issues.
I am aware of the 10% per year penalty for postponing part B. I also see that if one has credible coverage that is at least as good as Medicare with a public health insurance abroad, the part B penalty can potentially be avoided if one returns and applies later. Is that for everyone or just if you are working?
Many people suggest paying for part B just in case one returns to avoid penalties and also to have access to Medicare for a major procedure. I think the health care in Austria is top notch and you can’t always jump on a plane and cross the Atlantic with many illnesses. Also, after two years, most doctors drop you as a patient. Now you have to get to the US, find a doctor who accepts your coverage and is accepting new patients. I question whether paying part B is worthwhile for a “just in case”scenario or just pay the higher premium if we return.
I would be grateful to hear experiences of anyone with knowledge of this issue or is in a similar situation. Thank you all very much.
Statistics: Posted by ZumZabo — Thu Feb 20, 2025 1:22 am — Replies 0 — Views 11