5 Best Medicare Age Eligibility 2018
Many Americans do not know at what age they will be eligible for Medicare benefits.
Most Americans become eligible for Medicare at age 65 (approximately 15 percent of beneficiaries become eligible by reason of a disability or specific disease, rather than age).
The eligibility age has remained constant since 1965, when the program was established; however, only 38 percent of Americans said they would be eligible for Medicare at age 65, while one-third (32 percent) said they didn’t know (see attached chart).
1.Medicare Age Turning 65:
Individuals turning 65 have a seven month “Initial Enrollment Period” to enroll in Medicare.
The Initial Enrollment Period consists of the three months prior to the 65th birthday, the month someone turns 65, and the three months following.
If an individual is turning 65 and is receiving Social Security benefits, they will automatically be enrolled in Medicare Part A and B.
If an individual is delaying Social Security benefits, they will need to submit an application to Social Security to enroll in Medicare Part A and Part B.
2. Medicare Age Disability:
Individuals receiving Social Security Disability will automatically be enrolled in Medicare on their twenty-fifth month of disability.
3. Medicare Special Enrollment:
Individuals may delay their enrollment in Medicare without a penalty if they have coverage through an Employer’s Group Health Plan, the Employer employs 20 or more people, and they provide prescription drug coverage that is deemed to be “Creditable”.
Individuals that lose coverage from the Employer’s Group Health Plan have a Special Enrollment Period to elect Medicare coverage without a penalty.
Many other Special Enrollment Periods exist, but losing/leaving employer coverage is the most common.
4. Sign up for Medicare.
When you are 65, you will be eligible to start taking Medicare to cover some of your doctor, hospital and other medical costs.
Full Medicare coverage is not free so you typically don’t want to start taking it if you are still working full time, aren’t on Social Security and will have solid, affordable medical coverage at work until you decide to retire.
But you can sign up for Medicare at 65 and get a small part of Medicare — the free benefits that cover some hospital care — even if you don’t need the full Medicare package while working. (See www.ssa.gov/pubs/EN-05-10530.pdf.)
Signing up doesn’t have to mean you give up your health insurance at work. And the hospital coverage you get free through Medicare Part A can supplement the health insurance you have through your workplace insurance.
If you are going to keep working after 65, you simply say on the Medicare form you fill out that you won’t be claiming the form of insurance yet that covers doctors because you have solid coverage through work.
5. Why Work with Mintco Financial Medicare Advisors?
Mintco Financial is an independent insurance agency specializing in Medicare.
We represent the majority of Medicare insurance plans available in the country.
We assist our clients with selecting plans, purchasing plans, claims, questions/concerns, and provide up-to-date information on Medicare insurance.
We are a totally unbiased resource dedicated to finding the best plan for each client.
There is no fee for our service.
Contact us at:
Phone: 813-964-7100 or 716-565-1300
Need to Enroll medicare? Contact us Today!