Tuesday, August 2, 2022

Can You Get Medicare Early

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If I Retire At 62 Is That My Medicare Eligibility Age

Can You Retire Too Early? Medicare Q& A with Expert Diane Omdahl

Most people don’t qualify for Medicare at age 62. Unless you qualify for Medicare based on a disability, you’ll need health insurance until you qualify for Medicare at age 65.

Retirement brings with it many questions, not the least of which is how youll handle health insurance. Medicare is for people age 65 or older or those with qualifying disabilities. If youre retiring at 62 and dont qualify for Medicare with a disability, youre not yet eligible for Medicare.

Read on to get answers to your questions about Medicare at an early age:

  • What are the age requirements concerning becoming Medicare eligible?
  • Whats the difference between two types of Social Security retirement benefits?
  • Can I qualify for Medicare if I dont meet the traditional Medicare age requirement?
  • What are insurance options for people that dont qualify for Medicare at age 62?

When You’re Eligible For Medicare

Older people who are U.S. citizens or permanent legal residents can qualify for traditional Medicare coverage as early as age 65.

You might also be eligible for Medicare if you are under age 65 and meet one of the following conditions:

  • You are on dialysis or you’ve had a kidney transplant because of end-stage renal disease
  • You have been entitled to Social Security or Railroad Retirement Board disability benefits for 24 months
  • You have Lou Gehrig’s disease.

You are automatically enrolled in Medicare Part A if you qualify for Medicare and you’ve received Social Security or Railroad Retirement Board benefits for at least four months before you turn 65. You can then choose to enroll in other parts of the program or to delay enrollment.

If you are over 65 and do not meet any of the above criteria, you still may be eligible to purchase coverage through Medicare Part A. If you are unsure whether you are eligible, you can check using the Medicare Eligibility & Premium Calculator.

The work credit requirement is an algorithm used to determine how long a worker paid into the system.

End Stage Renal Disease

You can qualify for early Medicare coverage if you:

  • have received a diagnosis of ESRD from a medical professional
  • are on dialysis or have had a kidney transplant
  • are able to receive SSDI, Railroad Retirement benefits, or qualify for Medicare

You must wait 3 months after starting regular dialysis or receiving a kidney transplant to qualify for Medicare coverage.

Your Medicare coverage will begin the first day of the fourth month of your dialysis treatment. You can get coverage as soon as your first month of treatment if you complete a Medicare-approved training program to do your own at-home dialysis treatment.

Providing coverage to those with medical disabilities and some chronic health conditions has even increased access to healthcare and reduced the number of deaths. An estimated 500,000 people with Medicare have ESRD, according to a 2017 article. The researcher determined that the ESRD Medicare program prevents up to 540 deaths from ESRD each year.

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How Much Does Medicare Cost At Age 65

The standard premium for Part B modestly increases year over year. Part A costs also can increase, including the annual deductible and other coinsurance. Known as hospital insurance, Part A doesnt require a monthly premium as long as you have paid Medicare taxes through employment for at least 10 years.

Part B, known as medical insurance, typically pays 80% of the covered cost while you pay the deductible and then 20%.

When Your Coverage Starts

When Can I Get Medicare Before 65?

The date your coverage starts depends on which month you sign up during your Initial Enrollment Period. Coverage always starts on the first of the month.

If you qualify for Premium-free Part A: Your Part A coverage starts the month you turn 65.

Part B : Coverage starts based on the month you sign up:

If you sign up:

1 month after you turn 65

2 months after you sign up

2 or 3 months after you turn 65

3 months after you sign up

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Eligibility For Medicare Disability Benefits

If You Are Under Age 65 Social Security Disability Insurance

If you are age 18 to 64, your eligibility for Medicare is tied to your eligibility for Social Security Disability Income benefits. One exception is for people with end-stage renal disease , who are automatically eligible for Medicare solely on the basis of having ESRD.

You must qualify for and receive SSDI monthly income benefits to be eligible for Medicare. SSDI benefits are based on work credits earned through Social Security, Railroad Retirement or Medicare-covered government employment. Note: If you dont have work credits and dont qualify for SSDI, you may qualify for other income benefit programs such as Supplemental Security Income . For more information, see If You Dont Qualify for SSDI.

To qualify for SSDI, you must be unable to work for a least one year because of a qualifying physical or mental impairment, a combination of impairments or a terminal condition resulting from an impairment. You can apply for SSDI at your local Social Security Administration office. Once you are approved for SSDI, you must wait 5 months for your income benefits to begin, and an additional 24 months before Medicare benefits begin.

However, there are 2 exceptions:

  • Amyotrophic Lateral Sclerosis

    If you have Amyotrophic Lateral Sclerosis , you can get Medicare the first month you get SSDI monthly income benefits.

  • Ongoing Eligibility for Medicare and SSDI

    If You Dont Qualify for SSDI

    What Is The Medicare Eligible Age

    How old do you have to be to get Medicare? Unless you suffer from a qualifying disability, youll have to wait. “Who is eligible for Medicare?”) until you reach the age of 65. Youll be eligible for premium-free Medicare Part A, which covers inpatient hospital care or skilled nursing care, if you worked for 10 years or more and paid Medicare taxes on your earnings. Starting at age 65, you can also purchase Part B to cover your doctors appointments and other specific medically necessary services.

    Theres a reason this can be confusing for many people. If you want to take early retirement, you can actually sign up for Social Security starting at the age of 62. Youll receive a reduced amount, but youll begin enjoying your benefits. However, when you ask how old for Medicare, the answer is 65 unless you have a disability. So if you plan to start taking Social Security at age 62, youll need to have a plan for covering your medical expenses until you reach age 65.

    Also Check: Who Does Not Have To Pay For Medicare Part B

    How Medicare Works Under The Current Law

    Under current law, absent certain exceptions, age 65 is the earliest age you can sign up for Medicare. This age has been set since the inception of Medicare in 1965.

    The discussion of lowering the age of initial eligibility has come up in the past, but it never had the necessary support to advance through the legislative process.

    In 2021, however, there are several proposals gaining traction in Congress which could lower the Medicare age to 62 or even younger.

    Things To Consider Before Retiring Early

    Unless you start social security early, Medicare Part B wonât start automatically

    Retirement right at 65 isnât the same goal it used to be. You might be considering early retirement and basking in those golden years for as long as you can. But for those considering early retirement, you might find things arenât as golden as they seem.

    No matter when you plan on retiring, there are a few things you should keep in mind as you begin the process.

    Just remember the content of this article is of a general nature and is not meant to replace professional retirement or financial advice. As we discuss some of the different areas to consider as you retire, your own situation will be unique and your retirement decision is ultimately your own.

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    Are There Plans To Reduce The Medicare Enrollment Age

    Some legislators have proposed measures to lower the Medicare eligibility age. Senator Bernie Sanders wrote a bill that would make all Americans eligible for Medicare in 2019. Representative Pramila Jayapal wrote a similar bill in 2021. Neither bill passed.

    When this article was published, no changes had been made to the Medicare eligibility age.

    Can A 62 Year Old Get Medicaid

    Yes. Medicaid qualification is based on income, not age. While Medicaid eligibility differs from one state to another, it is typically available to people of lower incomes and resources including pregnant women, the disabled, the elderly and children.

    Learn more about the difference between Medicare and Medicaid.

    Recommended Reading: How To Apply For Medicare Advantage

    Automatic Enrollment And Applying

    Those who are already qualified for Social Security benefits or Railroad Retirement Board benefits will typically be automatically enrolled for Medicare.Those who have not qualified for those benefits will have to fill out paperwork to be enrolled. Dont let the process of applying for a government-funded program scare you. The process for enrolling is pretty simple, and you can start it seven months before you become eligible. This seven month period is called your Initial Enrollment Period .As mentioned above, the Initial Enrollment Period can change based on circumstances. For those qualifying due to a disability, the IEP begins in the 22nd month of receiving social security benefits. For those who qualified before age 65 and are requalifying at age 65, there is a second IEP that begins seven months before that birthday.

    A Disability And A Long Wait Are Required For Early Medicare Enrollment

    When to Apply for Medicare

    Lisa Sullivan, MS, is a nutritionist and health and wellness educator with nearly 20 years of experience in the healthcare industry.

    Medicare isn’t available to most people until age 65, but if you have a long-term disability or have been diagnosed with certain diseases, Medicare is available at any age.

    According to Kaiser Family Foundation data, 14% of all Medicare beneficiaries are under age 65. As of April 2021, 63.3 million Americans were enrolled in Medicare. So roughly 9 million of those beneficiaries are under age 65 and eligible for Medicare because of a disability as opposed to age.

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    How Old Do You Have To Be To Get Medicare

    Are you wondering at what age you can get Medicare coverage? You could say that Medicare age ranges from 65 up, for the rest of your life, for most people in the U.S. If you qualify for Medicare by disability, you can get Medicare before age 65. Youâre generally eligible for Medicare if youâre younger than 65, and:

    • Youâve been getting Social Security disability benefits for at least 24 months. Youâre typically signed up for Medicare automatically when you start the 25th
    • You have end-stage renal disease . You might qualify for Medicare, but youâre not automatically signed up. You need to contact Social Security or visit their website, gov.
    • You have amyotrophic lateral sclerosis , also known as Lou Gehrigâs disease. Youâre automatically signed up for Medicare the same month your Social Security disability benefits start.

    Can You Get Medicare If You Are Still Working

    • Your current employment status is not a factor in whether or not youre eligible for Medicare at age 65.
    • If you initially decline Medicare coverage, you may have to pay a penalty if you decide to enroll at a later date.

    You can get Medicare if youre still working and meet the Medicare eligibility requirements.

    You become eligible for Medicare once you turn 65 years old if youre a U.S. citizen or have been a permanent resident for the past 5 years. You can also enroll in Medicare even if youre covered by an employer medical plan.

    Read on to learn more about what to do if youre eligible for Medicare and are still employed.

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    Does The Eligibility Age Change For Types Of Medicare Coverage

    No. You need to have Medicare Part A and Part B if you want to sign up for a Medicare Advantage plan or a Medicare Supplement insurance plan. If you sign up for a stand-alone Medicare prescription drug plan, you need Part A and/or Part B.

    So, itâs not like you can get a Medicare Advantage plan, for example, when youâre younger than 65 unless you qualify by disability.

    Other Ways To Get Medicare Coverage At Age 65

    Can I Get Medicare at Age 62?

    If you dont qualify for premium-free Medicare Part A coverage, you may be eligible to buy coverage. However, you must still be a U.S. citizen or a permanent resident for at least five years to qualify.

    Other Medicare Eligibility Options

    • You can pay premiums for Medicare Part A hospital insurance. Premium costs vary based on how long you have worked and paid into Medicare.
    • You can pay monthly premiums for Medicare Part B medical services insurance. Youll pay the same premiums as anyone else enrolled in Part B.
    • You can pay monthly premiums for Medicare Part D prescription drug coverage. Your premium will be the standard rate and would depend upon the plan you choose.

    You will not be able to purchase a Medicare Advantage plan or Medigap supplemental insurance unless you are enrolled in Original Medicare Medicare Parts A and B.

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    Getting Medicare Enrollment Assistance

    If you have questions about or need help with Medicare eligibility or enrollment due to disability, you will want to talk with Social Security office. You can also go to your local State Health Insurance Assistance Program office for Medicare counseling.

    If you get approved for disability benefits but arent yet eligible for Medicare yet , you can reach out your local state human services agency to see if Medicaid may be an option for you.11

    Do I Automatically Get Medicare When I Turn 65

    Some people automatically get Medicare at age 65, but those numbers have declined as the Medicare and Social Security ages have continued to drift apart.

    Most people who automatically get Medicare at age 65 do so because they have been receiving Social Security benefits for at least four months before turning 65. Traditionally, Medicare premiums are deducted from your Social Security check. For the longest time, you could retire with full Social Security benefits at 65 and start on Medicare at the same time.

    You are still automatically enrolled in Medicare Part A and Part B at 65 if youre drawing Social Security, but not as many people draw Social Security that early these days because of changes to the eligibility age for full Social Security benefits.

    In 2000, the Social Security Amendments of 1983 began pushing back the standard age for full Social Security benefits. The progressive changes are nearing their conclusion: Beginning in 2022, the standard age for full benefits will be 67 for anyone born after 1960.

    Besides the Medicare eligibility age of 65, what remains unchanged is that you can opt to begin drawing partial Social Security benefits as early as age 62. So, if you opt for accepting partial Social Security benefits before age 65, you are automatically enrolled in Medicare.

    A smaller group of people also automatically get Medicare at age 65: people who receive Railroad Board benefits for at least four months before 65.

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    Speeding Up An Ssdi Application

    Your application for SSDI is likely to move more quickly if you select one healthcare provider as the lead contact for your case. It’s best to go with one who:

    • Has experience with disability cases
    • Responds promptly to requests for information
    • Is familiar with your overall health situation

    It’s also a good idea to keep a detailed log of your everyday activities and experiences.

    For example, document any difficulties you have with mobility or side-effects you are experiencing from medications. This will help when you have your interview with a Social Security representative. The interview may take place on the phone or in person at your local Social Security office.

    The SSA website provides an easy-to-use Disability Starter Kit that includes FAQs, a checklist, and a worksheet to help you get ready for your interview. You can save time during your interview if you fill out the needed applications online before your appointment.

    According to the SSA, most applications are processed within three to five months.

    What Does Medical Retired In Football Mean

    Can I Get Medicare Before Turning 65?

    This option allows those who suffer severe injuries and can no longer participate in collegiate athletics an opportunity to still have their education paid for. This allows the schools athletic director the option to continue paying for an injured athletes scholarship or providing them with financial aid.

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    Is It Mandatory To Sign Up For Medicare After Age 65

    No, it isnt mandatory to join Medicare. People can opt to sign up, or not.

    If you dont qualify for Social Security retirement benefits yet, you may need to manually enroll in Medicare at your local Social Security office, online or over the phone when you turn 65. You can also apply online for your Medicare coverage at www.medicare.gov.

    Enrolling in Medicare as soon as youre eligible ensures you get the subsidized health care you deserve without waiting periods or financial penalties.

    If you continue to work for a company employing 20 or more people after you turn 65, you could delay your Medicare enrollment. Your employee group plan provides enough medical coverage while youre working, meaning you may be able to wait to sign up for Medicare once you retire without incurring any late penalties.

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