Turning 65 or new to Medicare?
What is Original Medicare?
A Federal Health Insurance program
Original Medicare is comprised of two parts:
- Part A - helps pay for hospital stays
and inpatient care. - Part B - helps pay for doctor visits and outpatient care.
Medicare pays a fee for your care directly to the doctors and hospitals you visit.
Original Medicare has no limit to your out-of-pocket costs.
Who can get Medicare?
Medicare Eligibility
U.S. citizens and legal residents. (Legal residents must live in the U.S. for the 5 years just before applying for Medicare.)
You Must also meet one of the following:
- Age 65 or older
- Younger than 65 with a qualifying disability
- Any age with a diagnosis of end-stage renal disease or ALS
Medicare Late Enrollment Penalties
PART A Late Enrollment
People who pay a Part A premium (most don’t) could pay an additional 10% of the premium amount. The penalty is charged every month for twice the number of years enrollment was delayed.
PART B Late Enrollment
You could pay an additional 10% of the premium amount for each full 12-month period enrollment is delayed. The penalty is charged every month for as long as you have Part B.
PART D Late Enrollment
You could pay an additional 1% of the average Part D premium for each month you delay enrollment. The penalty is charged every month for as long as you’re enrolled in Part D.