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

The Junk Drawer Approach to Investing

The Junk Drawer Approach to Investing

It's easy to let investments accumulate like old receipts in a junk drawer.

Leaving Your Lasting Legacy

Leaving Your Lasting Legacy

Want to do more with your wealth? You might want to consider creating a charitable foundation.

Conquering Retirement Challenges for Women

Conquering Retirement Challenges for Women

Looking ahead can help you conquer these unique obstacles.

 

Have A Question About This Topic?







Thank you! Oops!

The ABCs of Zero Coupon Bonds

Understanding some basic concepts may help you assess whether zero-coupon bonds have a place in your portfolio.

Keep Your Umbrella Handy

Umbrella liability can be a fairly inexpensive way to help shelter current assets and future income from the unexpected.

The Ivory Tower Changes Wall Street

Thanks to the work of three economists, we have a better understanding of what determines an asset’s price.

View all articles

Saving for College

This calculator can help you estimate how much you should be saving for college.

Assess Your Life Insurance Needs

This calculator estimates how much life insurance you would need to meet your family's needs if you were to die prematurely.

What Is My Life Expectancy?

Estimate how many years you may need retirement assets or how long to provide income to a surviving spouse or children.

View all calculators

Principles of Preserving Wealth

How federal estate taxes work, plus estate management documents and tactics.

Managing Your Lifestyle

Using smart management to get more of what you want and free up assets to invest.

Your Cash Flow Statement

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

View all presentations

Keeping Up with the Joneses

Lifestyle inflation can be the enemy of wealth building. What could happen if you invested instead of buying more stuff?

When Special Care Is Needed: The Special Needs Trust

A special needs trust helps care for a special needs child when you’re gone.

Making Your Tax Bracket Work

Have you explored all your options when it comes to managing your taxable income?

View all videos