Insurance Read Time: 2 min

Medicare At 65+

When you turn 65, you become eligible for Medicare if you:

  1. Either receive or qualify for Social Security retirement cash benefits
  2. Or, currently reside in the United States and are either:
    a. A U.S. citizen
    b. Or, a permanent U.S. resident who has lived in the U.S. continuously for five years prior to applying

How you enroll at age 65 depends on whether or not you are already receiving Social Security retirement benefits or Railroad Retirement benefits. Also, there are circumstances in which someone may become Medicare-eligible at age 65 but defers Medicare enrollment without future penalties—for instance, if an individual has qualifying insurance from an employer.

How much you have to pay for your Medicare coverage depends on your work history (i.e. if and how long you have paid Medicare taxes). Everyone owes a monthly premium for their medical insurance (Part B). Most people with Medicare get their hospital insurance (Part A) premium-free.

For questions regarding Medicare eligibility, call the Medicare Rights Center’s free national helpline at 800-333-4114.

© Medicare Rights Center. Used with permission.

The content is developed from sources believed to be providing accurate information. The information in this material is not intended as tax or legal advice. It may not be used for the purpose of avoiding any federal tax penalties. Please consult legal or tax professionals for specific information regarding your individual situation. This material was developed and produced by FMG Suite to provide information on a topic that may be of interest. FMG, LLC, is not affiliated with the named broker-dealer, state- or SEC-registered investment advisory firm. The opinions expressed and material provided are for general information, and should not be considered a solicitation for the purchase or sale of any security. Copyright FMG Suite.

 

Related Content

What to Look for in Personal Finance Apps

What to Look for in Personal Finance Apps

An increasing number have been developed to help individuals with their personal finances.

Insurance Needs Assessment: When You're Newly Married

Insurance Needs Assessment: When You're Newly Married

Marriage changes everything, including your insurance needs.

Social Security: Five Facts You Need to Know

Social Security: Five Facts You Need to Know

Here are five facts about Social Security that are important to keep in mind.

 

Have A Question About This Topic?







Thank you! Oops!

Social Media: #NewestBusinessLiabilityRisk

Social media may be a modern imperative for businesses looking to grow and build their brand, but it also introduces risk.

AI Tools Changing Retiree Entrepreneurship

The impact that Artificial Intelligence (AI) tools can have on retirees with a consulting or small business venture.

Red Flags for Tax Auditors

Here are six flags that may make your tax return prime for an IRS audit.

View all articles

What's My Potential Estate Tax?

This calculator helps estimate your federal estate tax liability.

What Is the Dividend Yield?

This calculator helps determine your pre-tax and after-tax dividend yield on a particular stock.

Saving for Retirement

This calculator can help you estimate how much you may need to save for retirement.

View all calculators

Your Cash Flow Statement

A presentation about managing money: using it, saving it, and even getting credit.

Long-Term-Care Protection Strategies

The chances of needing long-term care, its cost, and strategies for covering that cost.

An Inside Look at Retirement Living

A number of questions and concerns need to be addressed to help you better prepare for retirement living.

View all presentations

Questions to Consider When Buying a Vacation Home

Doing your research is key before buying a vacation home.

From Boats to Brokers

From the Dutch East India Company to Wall Street, the stock market has a long and storied history.

It May Be Time for a Financial Checkup

It’s never a bad time to speak with your financial professional about changes in your situation.

View all videos