Medicare is a federal health insurance for people age 65 or older, under 65 with certain disabilities and any age with End Stage Renal Disease (permanent kidney failure) requiring dialysis or a kidney transplant. Medicaid is a medical assistance program for low-income people and jointly funded by the federal government and the states.
To qualify for Medicare you must have contributed to it through U.S. payroll taxes for at least 10 years (40 quarters) before turning 65. For this fact alone, it’s not free. However, many people do not pay a premium for Part A. Part B is not free. Today’s monthly premium is $164.90 or higher (for 2023)! Advantage plans and supplemental insurance add to the cost.
If you began receiving Social Security income prior to age 65 or you receive Social Security disability income, your enrollment is automatic. Those who are already receiving benefits from the RRB are enrolled automatically. Everyone else must apply for Medicare through the Social Security office.
If are just now turning 65, you have a total of seven months to enroll beginning three months before the month of your 65th birthday and ending three months after the month of your 65th birthday. If you apply before your birth month, your Medicare coverage should start on the first day of your birth month.
If you don’t enroll in Medicare during your initial seven-month enrollment period, you must wait to apply during the next general enrollment period (January through March each year and the effective date will be July 1). You may also owe a 10 percent penalty on your Part B premium for each year you delay Part B. A beneficiary’s Part B premium may go up 10% for each full 12-month period in which s/he could have had Part B but didn’t.
We can! Whatever you do, we recommend that you talk to someone who can ask the right questions, come to understand your circumstances, needs and budget, and recommend a plan that is right for you.
No. Call us to find out what options for vision, dental and hearing coverage are available.
Medicaid is available only to certain low-income individuals and families who fit into an eligibility group that is recognized by federal and state law, and some disabled individuals. Medicaid does not pay money to you; instead, it sends payments directly to your health care providers. For more information Medicare.gov's, Medicare Savings Programs page.