What is Medicare?
Medicare is a health insurance program created by the federal government to sponsor healthcare services for people that have reached the age of 65. Medicare is overseen by the Centers for Medicare and Services (CMS). This program also extends coverage for younger individuals with disabilities, and End-Stage Renal Disease or ALS (also called Lou Gehrig’s disease).
Medicare Eligibility
Medicare eligibility generally begins when you turn 65. However, individuals who have been receiving Social Security disability benefits for at least 24 months are also eligible. There are additional criteria that provides you with the eligibility you need to receive Medicare benefits. If you are a US citizen or a permanent resident and has lived in the United States for five continuous years can qualify for Medicare.
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Eligibility by Parts:
Part A
Most individuals are eligible for zero cost premium Medicare Part A coverage at 65 as long as you or your spouse has worked for at least 10 years in the United States. Anyone 65 or older who has not worked for at least 10 years can still purchase Part A coverage. You must enroll in Part B and maintain Part B coverage to stay enrolled in Part A. If you have already enrolled in Social Security, you will be automatically enrolled in Part A. If your were not enrolled you should contact the Social Security office. Individuals who are under 65 and have been receiving Social Security disability benefits for at least 24 months are also eligible.
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Part B
The eligibility requirements for Part B are the same as Part A, but Part B does require a monthly premium based on your income. Medicare uses IRMAA (Income-Related Monthly Adjustment Amount) to determine your monthly premium.
Part C
Part C is also known as Medicare Advantage. You must enroll in Medicare Part A and Part B to be eligible to enroll in a Medicare Advantage plan.
Part D
Medicare requires individuals 65 or older to be eligible for a drug plan. You can enroll in a drug plan if you have enrolled in either Part A and/or Part B. You can enroll in a drug plan with Part A coverage only or you can enroll in a drug plan with Part B coverage only.
Your Medicare Card
Your card has a Medicare Number that’s unique to you — it’s not your Social Security Number. This helps protect your identity.
The card shows:
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You have Medicare Part A (listed as HOSPITAL), Part B (listed as MEDICAL), or both.
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The date your coverage begins.
Healthy, Informed, and Prepared!
Ready To Get HIP?
If you are new to Medicare or already enrolled in Medicare and want to learn more about your coverage, then we’re here to help you stay healthy, informed, and prepared. Feel free to give us a call or click the link below today, and we will find a time to talk about your specific coverage and the ways you can use it.
Our Mission
At The HIP Insurance Crew, LLC, each of our clients is unique. We don’t believe in an “one-size-fits-all” approach to offering insurance. We provide individual solutions for each of our clients and serve as advocates should you need one.
