You do not have to be on Social Security to get Medicare. But, if you get on Social Security at any point, you can use your payment towards your monthly premiums.
Qualifying for Medicare Regardless of Social Security
Medicare is a federal health insurance program available to all U.S. citizens and legal permanent residents at least 65 years old, as well as any-age individuals with disabilities or conditions such as end-stage renal disease.
If you are not yet receiving Social Security benefits, you can still enroll in Medicare when you become eligible. You can sign up during the Initial Enrollment Period (IEP), which is a seven-month period that begins three months before you turn 65. You can also enroll during the General Enrollment Period (GEP), which runs from January 1st to March 31st each year.
Medicare Enrollment With and Without Social Security
Suppose you are already receiving Social Security benefits when you turn 65. In that case, you will automatically be enrolled in Medicare Part A and Part B. But, if you have other health insurance and do not want to enroll in Medicare, you can choose to opt-out. Or you can also keep both Medicare and your employer’s health insurance.
Suppose you are not receiving Social Security benefits when you become eligible for Medicare. In that case, you will need to actively enroll online, by phone, or by visiting a local Social Security office.
Why Wait on Social Security?
You can start receiving Social Security benefits as early as age 62. So, why wouldn’t you want to be enrolled by the time you’re eligible for Medicare at age 65? The earlier you enroll in Social Security before age 65, a deduction will be taken from your monthly payments.
On the other hand, you may wait to enroll until age 70 and earn more monthly benefits than you would if enrolled at age 65. So, even though it may seem like a singular path for everyone to take for retirement benefits, you can choose a schedule to meet your needs.
The Next Step is Waiting for You
With one of your Medicare questions answered, you may wonder, “what’s next?” Toni Buffington Medicare Solutions can help. We will walk through the Medicare process with you so that you’re comfortable and prepared every step of the way. Call (918) 902-2304 or fill out our form to get started.