If you’re looking to retire at age 62, you might wonder if you’ll be eligible for Medicare as you transition away from your employer’s health insurance. In most cases, the answer will be no. That’s because Medicare was set up as a health insurance program for people 65 and older. However, there are circumstances where you can qualify before your 65th birthday.
When Am I Eligible for Medicare?
The United States government created Medicare to be available to everyone once they reach 65 years of age. This applies whether you’re still working at 65 or have already taken retirement. Your retirement age does not impact your qualification for Medicare.
If you are still working and have health insurance through your employer, it will remain your primary insurance for as long as you work. Medicare will be considered your secondary insurance. You become eligible for Medicare three months before the month you turn 65. You can enroll up to three months after your birthday month, giving you a total of seven months to apply for Medicare enrollment.
What Are Medicare Eligibility Requirements?
To qualify for Medicare, age is only one of the requirements. You’ll also have to meet other eligibility requirements, including:
- US citizenship – you must be a United States citizen or legal resident for at least the past five years.
- Address – you must prove you have a stable US address.
- HSA – you can no longer contribute to a health savings account (HSA). However, you can continue using funds within an existing HSA account.
In most cases, Medicare only covers treatment within the United States.
Can I Qualify for Medicare If I’m Younger Than 65?
While most people will not qualify for Medicare until their 65th birthday, there are a few exceptions. You can apply for Medicare if you meet any of the following criteria:
- You have received Social Security disability benefits for at least 24 months
- You receive Railroad Retirement Board (RRB) disability
- You have chronic medical conditions such as amyotrophic lateral sclerosis (ALS) or end-stage renal disease (ESRD)
Under certain circumstances, you may also qualify based on a relationship with a family member with Medicare benefits. If you are a disabled widow(er) under age 65, a disabled surviving divorced spouse under age 65, or a disabled child, Medicare may be available.
Is Medicare Enrollment Automatic?
Because Medicare is a right at age 65, it’s natural to assume that Medicare benefits will automatically kick in on your 65th birthday. Not so.
You will be automatically enrolled in Medicare at 65 if:
- You currently receive Social Security retirement benefits.
- You’re younger than 65 but receive Social Security disability. Medicare kicks in once you’ve received 24 months of benefits. You’ll be automatically enrolled in month 25.
- You’re younger than 65 and have been diagnosed with ALS. Medicare will start the same month as your Social Security disability benefits.
You will need to manually sign up for Medicare if:
- You aren’t receiving Social Security retirement benefits on your 65th birthday.
- You’re younger than 65 and have ESRD.
- You live in Puerto Rico.
In these circumstances, it will be up to you to sign up for Medicare once you become eligible. You may have to pay a penalty if you don’t enroll promptly.
Do I Get Full Medicare Benefits at Any Age I Sign Up?
Medicare is an all-in insurance program. You won’t have to decide between multiple providers and plans. You’ll be entitled to full Medicare Part A and Part B benefits when you become eligible for Medicare. You’ll also have the right to sign up for benefits beyond the standard Medicare benefits. These include:
- Medicare Advantage – this is often known as Medicare Part C. It often includes additional coverage, such as a prescription drug plan.
- Medicare Supplement – this private insurance plan provides additional coverage alongside your Part A and Part B. It’s often known as Medigap.
- Medicare Part D – this is a stand-alone prescription drug plan that provides additional coverage for prescriptions.
What If I’m Overwhelmed and Not Sure What to Choose?
Even a quick search online can leave you confused and overwhelmed as you start researching Medicare. There’s a lot to consider, especially with everything going on in your life. The good news is there are a lot of ways to get help.
Use the Get Started With Medicare section on the US government’s Medicare site. It provides a wealth of information and a step-by-step guide to help walk you through the process. And, if you need a little help, you can talk or live chat with someone 24 hours a day.
Finding the right Medicare plan doesn’t have to be overwhelming. Get started today.