If you’re on Medicare and getting close to turning 65, it’s important to know what you need to do to qualify. Medicare is a federal program that covers health care costs for people aged 65 or older and those with disabilities. It also covers younger people who have certain medical conditions or who are on kidney dialysis. Here are six things to know about how to qualify for Medicare:
You Must Be A Citizen Of The United States Or An American Permanent Resident Of At Least 5 Years
If you aren’t a citizen, you can apply for Medicare when you’ve been a permanent resident for at least five years. If you’re permanently residing in the U.S. under a visa, you can qualify for Medicare as long as you’ve been a resident for two years, but you can’t get benefits until you’ve been a permanent resident for 5 years.
You Must Have Worked And Paid Social Security Taxes For At Least 10 Years To Receive Social Security Retirement Benefits And Qualify For Medicare Part B Coverage
If you haven’t worked more than 10 years, you can qualify for Medicare Part A when you have paid Social Security taxes for enough time to get credit for 10 years’ work. You’ll need to apply for Medicare and sign up for Part A before your 65th birthday.
Remember that you’ll only be eligible for Medicare Part B when you’ve paid sufficient Social Security taxes for at least 10 years (or the time needed to get credit for 20+ years’ coverage).
Income Limits Should Be Considered
You might not be able to receive the health care benefits offered by Medicare if your income is too high under the program’s current income limits. If you expect that your income will be too high, you may wish to consider delaying taking medical insurance from Medicare to keep your costs lower over time.
Medicare is Automatic If You Qualify
You don’t have to do anything to prepare for the qualification rules for Medicare. If you apply for this medical insurance and are determined eligible, your coverage will begin automatically. You don’t have to call to get your Medicare numbers and don’t need to fill out any paperwork.
As soon as you qualify for Medicare, you’ll receive a “Medicare Card” – a plastic card marked with the number 100 or a series of numbers and letters – from the Department of Health and Human Services (HHS). The Social Security Administration will also supply you with a letter confirming that you are eligible for Medicare.
Opting Out Of Medicare Is Optional
You can always opt out of receiving Medicare coverage by filing Form 8889 with the IRS and then submitting it along with your tax return from the year you wish to cancel your coverage. You can also make this decision at any time with a note from your doctor.
If you opt out of Medicare and want to cancel your coverage, you may be eligible for a premium subsidy to help offset private insurance costs.
Enrolling In Medicare Can Only Happen At Certain Times
If you don’t enroll in the Medicare Part A portion of your medical coverage by the time you turn 65, enrollment will be delayed for eight months. If you don’t enroll in Medicare Part B before your birthday and have paid Social Security taxes for at least 10 years, your coverage will be delayed until the first quarter that starts after the third month after your birthday.
You can visit the Social Security Administration website for more information about Medicare eligibility rules and see if you are eligible to receive benefits. As an example, if you live in Minnesota, you can also call a medicare specialist and get medicare quotes in Minnesota or request a Social Security statement to see if you meet the qualifications needed to qualify for Medicare Part B.
Bottom Line
Conclusively, Medicare is a program that all persons aged 65 and above are eligible to take. It provides insurance coverage for medical services like doctor visits, hospital stays, and more for the elderly. Although there are some rules about when you can qualify for Medicare (if you’ve been employed for at least 10 years), you will be automatically enrolled in Medicare once you reach the appropriate age. The most important thing to know about Medicare is who is eligible and how to enroll to get benefits.
