I am still officially on social security disability, but no longer receiving any monthly payments as I have been working for over a year and making about 70,000 per year (and jointly with my wife over 350,000 per year). However, I am still on Medicare (as I never went through CDR review). I have a good medical coverage from my employer and would like to use it instead of paying Medicare premiums (my Medicare payments is quite high because of substantial family income). Can I remove myself from Medicare part B without incurring any penalties down the road and have an option of going back on Medicare part B, if I am laid off/quit and still considered disabled by SSA?

Hi,

Yes, you could drop Part B Medicare coverage and re-enroll without a penalty, but only if you are covered by a qualified employer group health plan (EGHP) during the period of time that you elected not to accept Part B coverage. A qualified EGHP would be one that covers at least 20 employees, and it would need to be from an employer for whom either you or your wife are actively employed (https://secure.ssa.gov/apps10/poms.nsf/lnx/0600805300).

If you decide to terminate your Part B coverage, the recommended form for that purpose can be found on the following Medicare website: https://www.cms.gov/Medicare/CMS-Forms/CMS-Forms/Downloads/CMS1763.pdf.

Best, Jerry