Here’s a step-by-step guide to help you get started:
Eligibility
You’re eligible for Medicare if you’re 65 or older, or if you have a disability or End-Stage Renal Disease (ESRD) ¹ ² ³.
Automatic Enrollment
If you’re receiving Social Security benefits, you’ll be automatically enrolled in Medicare Part A and Part B when you turn 65 ¹ ² ³.
Manual Enrollment
If you’re not automatically enrolled, you can:
– Apply Online: Visit the Social Security Administration website to apply for Medicare online ¹.
– Call: Contact the Social Security Administration at 1-800-772-1213 (TTY 1-800-325-0778) to enroll over the phone ¹.
– Visit: Stop by your local Social Security office to enroll in person ¹ ² ³.
Initial Enrollment Period
The Initial Enrollment Period begins three months before your 65th birthday and ends three months after ².
Medicare Parts
You’ll need to choose which Medicare parts you want to enroll in:
– Part A: Hospital insurance ²
– Part B: Medical insurance ²
– Part C: Medicare Advantage plans ²
– Part D: Prescription drug coverage ²
Medicare Components:
There are four main parts to Medicare:
– Part A: Covers hospital, skilled nursing, home health care, and hospice services. This part is largely funded by revenue from a 2.9% payroll tax levied on employers and workers ¹.
– Part B: Covers outpatient services, including doctor visits, durable medical equipment, and some prescription drugs.
– Part C: An alternative to Parts A and B, offering private plans with different benefit structures.
– Part D: Covers self-administered prescription drugs.
Eligibility and Enrollment:
To be eligible for Medicare, individuals must be U.S. citizens or permanent residents, and:
– Be 65 years or older
– Have a disability and receive Social Security Disability Insurance (SSDI) payments
– Have end-stage renal disease (ESRD) or amyotrophic lateral sclerosis (ALS)
Costs and Financing:
Medicare spending was over $900 billion in 2022, accounting for about 4% of the U.S. gross domestic product ¹. The program is funded through payroll taxes, premiums, and trust funds.
Benefits and Coverage:
Medicare covers a range of services, including:
– Hospital stays (up to 90 days)
– Skilled nursing facility care (up to 100 days)
– Hospice care for terminally ill individuals
– Outpatient services, including doctor visits and durable medical equipment
