Mandating employer paid health coverage

Posted by / 10-Jun-2020 14:52

Mandating employer paid health coverage

Note: If you’re not working and you have health coverage through a retiree plan, such a plan will most likely not qualify you for a Medicare Special Enrollment Period.

There are various factors to consider when deciding whether to enroll in Medicare as soon as you are eligible if you already have employer coverage. In most cases, enrolling in Medicare Part A as soon as you’re eligible may be a good idea, even if you already have employer coverage.Therefore, tipped employees will face greater layoff risk than non-tipped workers if employers must provide health insurance, since the cost of their compensation package relative to those employees who do not work for tips will increase.The substitution away from tipped employees toward non-tipped employees and physical capital which would be induced by mandated health insurance will likely have other noteworthy ramifications.Some beneficiaries who are covered by employer health plans choose to delay enrollment in Medicare Part B.There is a late-enrollment penalty if you sign up for Medicare Part B after your Medicare Initial Enrollment Period, unless your situation qualifies you for a Medicare Special Enrollment Period.

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The harmful consequences of mandated health insurance are even more likely for tipped employees who, because of the incomplete credit for tip income against the minimum wage, are already relatively expensive from the standpoint of the firm.

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