Medicare Eligibility
Medicare Eligibility
Medicare has specific eligibility requirements that you must know, because it is the difference between obtaining a policy with a free Part A premium with no late fees whatsoever, and paying late fees for the remainder of the time you have a policy.
Interested in learning more?
Why it’s important to know
This page will give you the information you need that can save you both time and money. And it’s not the difference between minutes and small dollar amounts, either. This is a matter of precious hours and thousands of dollars.
Reaping the fullest extent of Medicare’s benefits means taking action as soon as you become eligible. Medicare enrollment is time-sensitive, and waiting can be costly.
Eligibility and Social Security
This can save you hours’ worth of time. If you’re on Social Security or you receive Railroad Retirement Board benefits, you do not have to do anything other than wait. That’s it. You don’t have to make any calls or set up appointments. As soon as you turn 65, you can use Medicare to make your healthcare treatments more affordable than ever before.
When you’re getting Social Security or Railroad Retirement Board benefits, you don’t have to come to Medicare. Medicare comes to you.
Disability
Being on disability for 24 months or more automatically grants you Medicare coverage. This is the one instance where you don’t need to wait until you’re 65 for benefits to begin.
For all others
If you do not fit into the groups previously mentioned, you will have to take action. Your eligibility starts three months before your 65th birthday. It’s ideal for you to join at this time, because from this point until the three months after the month of your 65th birthday, you can enroll in Medicare Part A with a premium free of charge. You also won’t deal with any late enrollment penalties when joining at this time.
Medicare eligibility never expires, so even if you do not join when you’re first able to, the door is always open.
Eligibility and financial assistance
Insurance companies recognize that not everyone earns the same income. While Medicare premiums are modest in comparison to alternative health insurance plans, it can still be more of a burden than an asset to those who have a lower income.
That’s why Medicare and Medicaid work together. Eligibility here is determined by your state’s Modified Adjusted Gross Income (MAGI) standards. If you’re low-income yet you still earn above the maximum amount, you can “spend down” by subtracting medical costs from your income.
We can help
Whether you’re not eligible yet, newly eligible, or have been eligible for a long time, Wichita, Kansas’s very own Medicare With Jake puts forth the same effort in giving you the best policy according to where you are in your eligibility status. At Medicare With Jake, it’s never too soon to learn, and it’s never too late to join.
