How Long Does Medicare Last?

How Long Does Medicare Last?

Currently, Medicare is a federal program that offers health care coverage for people aged 65 and older. It’s funded by payroll taxes, a premium, and copayments or deductibles.

The program covers doctor visits, hospital stays, and preventive services. It also includes supplemental insurance, like prescription drug plans (Part D), and medical management.

There are many ways to qualify for, including working full-time, receiving Social Security Disability Insurance or certain Railroad Retirement Board benefits, and having amyotrophic lateral sclerosis. Individuals with End Stage Renal Disease (ESRD) also qualify for Medicare.

How to Sign Up for Medicare

Generally, when you turn 65, you’ll have an Initial Enrollment Period. This is a 7 month period that starts 3 months before your birthday and ends 3 months after it.

In some cases, you can delay your enrollment period until the General Enrollment Period from January 1 through March 31 each year if you or your spouse have a group health plan with your employer/union. However, if you do not enroll during the Initial Enrollment Period or the General Enrollment Period, you’ll be required to pay a premium surcharge each year.

How to Become Eligible for Medicare

You can qualify for Medicare if you’re under age 65 and have received disability benefits from Social Security or the Railroad Retirement Board for at least 24 months. You may also be eligible if you have amyotrophic lateral sclerosis or end stage renal disease.

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