Get started with Medicare
Medicare is a federal health insurance program in the United States primarily designed for individuals who are 65 or older. This program is crucial as it provides health coverage for seniors and reduces the medical and hospital costs they might have to incur.In addition, people of any age with End-Stage Renal Disease (ESRD), which is permanent kidney failure requiring dialysis or a kidney transplant, are eligible. Another condition covered is Amyotrophic Lateral Sclerosis (ALS), also known as Lou Gehrig’s disease, which is a specific disease that affects the nerve cells in the brain and spinal cord.
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Enrollment in Medicare is not always automatic. For those who are already receiving Social Security or Railroad Retirement Board benefits, enrollment into Medicare is typically automatic when they turn 65. For others, active enrollment is required. This means they need to sign up during an Initial Enrollment Period, which usually begins three months before their 65th birthday and ends three months after their birthday month. In summary, while Medicare is commonly associated with individuals who are 65 or older, it also provides vital health coverage for younger individuals with certain disabilities or conditions. The process of enrollment may vary, with some people getting Medicare automatically and others needing to sign up manually. It’s always recommended to check your eligibility and understand the enrollment process.
Who Is Eligible For Medicare?
All US citizens become eligible for Medicare when they turn 65. Non-citizen permanent residents are eligible at 65 also, provided they have lived in the country for at least five years.
If you are under 65, you might qualify for Medicare if:
⚪You are permanently disabled and have received Social Security Disability benefits for at least 24 months
⚪You have been diagnosed with end-stage renal disease (kidney failure)
⚪You have been diagnosed with Amyotrophic Lateral Sclerosis (Lou Gehrig’s disease) and are receiving Social Security Disability benefits
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As with most large, complex government programs, Medicare can seem a bit overwhelming at first. That’s why we’ve created this guide to help you navigate the application procedure, annual enrollment, and more.
When Should You Apply For Medicare?
You become eligible for Medicare when you turn 65 years old. However, if you have already claimed Social Security benefits at that time, you will be automatically enrolled in Medicare on your 65th birthday. You will receive Medicare Parts A and B. To enroll in other Medicare programs, such as Part C (Advantage) or Part D (prescription) you must meet with an insurance professional to elect those benefits.
Those who have not already begun to draw Social Security benefits will need to apply for Medicare when they turn 65.
The Initial Enrollment Period (IEP) begins three months before your 65th birthday, lasts throughout the month of your birthday, and then for three months after that. So, you have seven months in total to complete the enrollment process. There is one exception to the above rule: If your birthday falls on the first day of the month, your IEP will begin one month earlier. Yes, you should apply for Medicare at age 65, even if you aren’t claiming your Social Security benefits yet. In fact, you must apply for Medicare during this initial enrollment period. Otherwise, if you sign up later you will face higher premiums for the rest of your life. Only under very specific conditions can you delay enrollment without incurring a penalty.
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At Dizon Financials, we are dedicated to providing comprehensive insurance solutions to meet the unique needs of our clients. With a team of experienced professionals, we strive to offer personalized service and tailored coverage options. Our commitment to excellence and customer satisfaction sets us apart in the industry. Whether you are looking for life insurance, health insurance, or retirement planning, we are here to help you navigate the complex world of insurance and secure your financial future.
