If you are approaching retirement age, you may be wondering when you can enroll in Medicare. Here’s what you need to know.
What Is Medicare?
Medicare is a federal health insurance program that provides affordable coverage to millions of Americans. You can receive hospital insurance, medical insurance, and prescription drug coverage through Medicare. Each of these benefits categories is offered through different sections of the Medicare program, called Parts.
What Are Medicare’s Parts?
Medicare Part A provides hospital insurance that covers inpatient stays and other hospital-related costs. Part B covers medically necessary services and preventive health services. Part D offers prescription drug coverage. Part C combines coverage from Parts A and B and typically includes additional benefits, such as prescription drug coverage. Knowing which parts of Medicare you are eligible for can help you plan your retirement health care.
Who Is Eligible For Medicare Part B?
The eligibility requirements for Medicare Part B are the same as the requirements for Medicare Part A. Together, these two parts make up Original Medicare. To be eligible for Original Medicare, the base requirement is that you must be age 65 or older. Though, it is possible to qualify if you are younger. You just need to be diagnosed with a qualifying disability and receive Social Security Disability benefits for at least 24 months.
If you are under age 65 and have been diagnosed with amyotrophic lateral sclerosis or End-Stage Renal Disease, you can get Medicare benefits without waiting through the 24 month waiting period. People with these conditions can get Medicare coverage within months of their initial diagnosis.
Who Is Eligible For Premium-Free Medicare Part A?
Some Medicare applicants are eligible to receive their Part A benefits premium-free. To receive premium-free Part A coverage, you must have worked a specified number of quarters and paid Medicare taxes. The exact number of quarters required depends on whether the person is applying to Part A based on age, disability, or End-Stage Renal Disease.
Find Out When To Enroll
If you’re waiting to enroll in Medicare Part B, it’s time you got some guidance. Magellan Healthcare is ready to help you move forward. Just give us a call at 866-779-3553 to get started with a free Medicare consultation.
