Am I Eligible For Medicare Part A & Part B?

I can provide general guidance on the eligibility requirements for Medicare.

First, most people are eligible for Medicare Part A and Part B when they turn 65 years old, as long as they or their spouse have worked and paid Medicare taxes for at least 10 years (40 quarters).

Second, some people may be eligible for Medicare before they turn 65 years old if they have certain disabilities or end-stage renal disease (ESRD).

Third, if you do not have enough work credits to qualify for premium-free Medicare Part A, you may still be able to purchase it if you are age 65 or older and you or your spouse have worked and paid Medicare taxes for at least 10 years.

Fourth, you can enroll in Medicare Part B during certain enrollment periods, such as the initial enrollment period when you turn 65, the general enrollment period from January 1 to March 31 each year, or a special enrollment period if you or your spouse are still working and have group health coverage through an employer.

Finally, there are premiums associated with Medicare Part B, and they may be higher for people with higher incomes. The premiums are typically deducted from your Social Security benefits.

Overall, determining your eligibility for Medicare Part A and Part B can be complex and may require consultation with a healthcare professional or the Social Security Administration.

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Robert J. Pyle, CFP®, CFA, AEP® founded Diversified Asset Management, Inc., in 1996 to provide personalized, comprehensive wealth management services to successful individuals, families, single women, and business owners. His specialty is addressing the complex financial needs of self-employed professionals, corporate executives, and small-business owners. Our disclosure can be found here. The views, opinion, information, and content provided here are solely those of the respective authors, and may not represent the views or opinions of Diversified Asset Management, Inc. Diversified Asset Management, Inc. cannot guarantee the accuracy or currency of any such third party information or content, and does not undertake to verify or update such information or content. Any such information or other content should not be construed as investment, legal, accounting, or tax advice.