Comprehensive Financial Solutions, Inc.

440-343-4223

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

How to Retire Early

How to Retire Early

Retiring early sounds like a dream come true, but it’s important to take a look at the cold, hard facts.

Should You Ever Retire?

Should You Ever Retire?

A growing number of Americans are pushing back the age at which they plan to retire. Or deciding not to retire at all.

An Arm and a Leg

An Arm and a Leg

A visit to the hospital can be painful, for both your body and your wallet. Don’t let it be more painful than it has to be.

 

Have A Question About This Topic?







Thank you! Oops!

Do Your Kids Know The Value of a Silver Spoon?

You taught them how to read and how to ride a bike, but have you taught your children how to manage money?

Problems with Probate

Probate can be a completely public process, or it can be managed to include as little information as possible.

Insuring Your Business Against Cyber Liability

90% of small businesses in the U.S. don't protect their data from cyber attacks. Is your business at risk?

View all articles

Federal Income Tax

Use this calculator to estimate your income tax liability along with average and marginal tax rates.

What's My Potential Estate Tax?

This calculator helps estimate your federal estate tax liability.

Historical Inflation

This calculator shows how inflation over the years has impacted purchasing power.

View all calculators

Your Cash Flow Statement

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

Managing Your Lifestyle

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

Long-Term-Care Protection Strategies

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

View all presentations

Inflation and Your Portfolio

Even low inflation rates can pose a threat to investment returns.

Should You Invest in Exchange Traded Funds?

There are thousands of ETFs available. Should you invest in them?

Emerging Market Opportunities

What are your options for investing in emerging markets?

View all videos