Medicare is health insurance for people ages 65 or older. It helps cover the costs of doctor visits, hospital stays, and more. Medicare can also be for some younger people with certain disabilities.
To get started with signing up for Medicare, visit this page on Medicare.gov.
If you are almost 65 years old, you should start planning to sign up for Medicare. Timing is very important with Medicare. If you wait too long to sign up (enroll), you risk having a gap in your health insurance coverage. You may also have to pay a penalty (an extra fee).
Read the section “When To Enroll In Medicare” to learn more.
Medicare Part A and Part B
The first step in planning to enroll in Medicare is knowing what part or parts you need.
Medicare has 2 main parts: Part A and Part B. Each part gives you a different type of health insurance coverage.
About Medicare Part A
Medicare Part A is known as hospital insurance. Medicare Part A helps cover:
- Inpatient care. This is care you get while you’re staying in a hospital.
- Home health care. This is care you get at home from a licensed healthcare provider.
- Care you get while you’re staying in a skilled nursing facility.
- Hospice care.
Cost of Medicare Part A
The monthly cost for a health insurance plan is called a premium.
Some people need to pay a premium for Medicare Part A. Others do not. It depends on how long you or your spouse (the person you’re legally married to) paid Medicare taxes.
- If you or your spouse paid Medicare taxes for 10 years, you will not have to pay a premium for Medicare Part A. This is called “premium-free Part A.”
- If you or your spouse didn’t pay Medicare taxes for long enough, you may have to pay a premium for Medicare Part A. This is called “premium Part A.”
You can still get Medicare Part A even if you did not pay Medicare taxes for long enough.
About Medicare Part B
Medicare Part B is known as medical insurance. Medicare Part B helps cover:
- Visits with doctors and other healthcare providers.
- Vaccinations.
- Cancer screenings.
- Outpatient care. This is care you get at a hospital and go home within 24 hours.
- Home health care.
- Durable medical equipment. This is medical equipment and supplies you can use over and over without replacing. Wheelchairs, walkers, and oxygen equipment are examples of durable medical equipment.
Cost of Medicare Part B
Everyone pays a monthly premium for Medicare Part B. How much you pay depends on your income (how much money you make). It also depends on when you enroll in Part B.
Most people pay the standard premium. In 2023, the standard premium is $164.90 per month.
When To Enroll in Medicare
The period of time when you can first sign up for Medicare is called your initial enrollment period.
Your initial enrollment period starts 3 months before you turn 65 and includes the month of your birthday. It ends 3 months after the month of your birthday.
Example: Your birthday is in August. Your initial enrollment period is May, June, July, August, September, October, and November.
It’s very important to enroll in Medicare during your initial enrollment period if:
- You have health insurance from a previous employer (job), including COBRA or retiree health insurance.
- You have TRICARE or CHAMPVA coverage and are eligible for premium-free Part A.
- You have health insurance from your or your spouse’s current employer and the employer has 20 employees or fewer. This does not include COBRA, retiree health insurance, or if your employer gives you money to buy health insurance.
- You have health insurance from the Health Insurance Marketplace (also called Obamacare or the Affordable Care Act) or private health insurance not from your employer and you are eligible for premium-free Part A.
- You only have Veterans Affairs (VA) coverage.
- You do not have health insurance.
If any of these are true for you, be sure to sign up for Medicare during your initial enrollment period. If you do not, you may have to pay a penalty. You may also have a gap in your health insurance coverage.
When It’s OK to Wait to Enroll in Medicare
A very small group of people may be able to sign up for Medicare after their initial enrollment period without having to pay a penalty. Contact your employer or union benefits administrator to learn if you can delay without a penalty.
Medicare Resources
Click here for a fact sheet from the Centers for Medicare & Medicaid Services: Deciding Whether to Enroll in Medicare Part A and Part B When You Turn 65
Questions about Medicare
- Visit Medicare.gov or call 1-800-MEDICARE (1-800-633-4227)
- Contact your State Health Assistance Program (SHIP). Find your state’s SHIP contact information.