Medicare Eligibility
There are three ways to qualify for Medicare, turning sixty-five years old, being disabled before the age of sixty-five, or being diagnosed with end-stage kidney disease or ESRD. For those turning sixty-five and qualifying, you or a spouse must have forty quarters of work credits to be eligible and you must also be a legal U.S. citizen or be legally in the U.S. for five consecutive years.
Medicare eligibility for Medicare parts A & B for sixty-five year olds, opens up three months prior to their sixty-fifth birth month and extends for the three months following that birth month, for a total of a seven month window to enroll without incurring a penalty without a qualifying waiver. If you are sixty-five or older and miss your initial window to enroll, you are able to enroll in parts A & B from January 1st through March 31st for a July 1st effective date with your penalties applying to the total cost. If you are sixty-five or older and losing qualifying coverage from an employer or a spouse's employer, you are able to enroll in parts A & B upon the end of the qualifying coverage. You have a sixty-three day window from the end of the qualifying coverage's termination to enroll without incurring penalties.
Once you have successfully enrolled in parts A & B through Social Security's web application page or, by stopping into your local Social Security office, it is time to figure out the best option for your healthcare coverage. (For those that are already drawing from Social Security, you will be automatically enrolled in parts A & B once your eligiblity window opens up.) There are a bunch of carriers and even more health plans to choose from, if help is needed to figure out which plan makes the most sense for you, contact a Poindexter representative and they would be more than happy to illuminate your available options.
Medicare Eligibility Steps
Step 1: The easiest way to apply for parts A & B is online through social security's portal. Here is the link to that page; https://secure.ssa.gov/iClaim/rib. (Copy and Paste this into your browser to be taken to the page.) Medicare parts A & B will become effective the first of the month you turn sixty-five. The base premium for Medicare part B is $164.90 per month for 2023 without an IRMAA or MSP. The bill for this will come in a quarterly statement, or be drawn directly from your Social Security check for those that are currently drawing. For those over sixty-five years old you are unable to enroll in parts A & B online, you will need to visit your local social security office to enroll.
Step 2: The next step is to determine which plan makes the most sense for you. There are two main route's that individuals take, the Medicare Advantage plan route, or the Medicare Supplement (Medigap) along with a Prescription Drug Plan (PDP). Everyone's situation is unique to them and the level of healthcare they require. The most efficient way to figure out which path would benefit you the most, is to speak with a licensed agent at Poindexter. The agent will help you through this process, and ensure proper enrollment once a plan is found that makes the most sense for you.
