Prepare for 2023 Medicare Requirements

According to the U.S. Department of Health and Human Services, Medicare is available for people aged 65 or older; younger people with disabilities; and people with End-Stage Renal Disease (permanent kidney failure requiring dialysis or transplant). Here’s more detail on the Medicare eligibility requirements.

1. People aged 65 or older
There is a Medicare age requirement. Medicare Part A (Hospital Insurance) and Medicare Part B (Medical Insurance) are available to people who are aged 65 or older. According to the Centers for Medicare & Medicaid Services, most people can receive Part A at no cost but others may have to pay a premium.

2. People with a disability
If you aren’t yet 65 but you live with a disability, you may still qualify for Medicare. You must have either received Social Security Disability Insurance (SSDI) benefits for 24 months, or have one of the two following conditions:

• End-Stage Renal Disease
• Amyotrophic Lateral Sclerosis (ALS, also called Lou Gehrig’s disease)

You will be individually assessed to determine whether your illnesses and conditions qualify you for Medicare.

3. People with End-Stage Renal Disease
People with End-Stage Renal Disease  you qualify for Medicare, regardless of age if you meet the, following criteria to receive Medicare under this requirement:

• Your kidneys no longer work 
• You need regular dialysis or have had a kidney transplant
• One of these applies to you:

   -  You’ve worked the required amount of time under Social Security, the Railroad Retirement
       Board (RRB), or as a government employee.
   -  You’re already getting or are eligible for Social Security or Railroad Retirement benefits.
   -  You’re the spouse or dependent child of a person who meets either of the requirements
       listed above.

The SSA explains that if you have a higher income, you’ll likely have to pay an additional premium to receive Medicare Part B and Medicare prescription drug coverage.

Most Medicare Part B beneficiaries pay about 25% of the Part B premium. The government covers the rest. But if you are a higher-income beneficiary, you’ll pay a larger percentage of the cost. Depending on how much income you report to the Internal Revenue Service (IRS), your monthly Part B premium might be equal to 35, 50, 65, 80, or 85% of the total cost

Annual Enrollment Period may have just ended, but it will be here again before you know it. Use these tips to make sure you’re ready.

Start early
The  right way to prepare for your Medicare coverage options is to start early. The requirements for Medicare can be confusing. That’s why it’s helpful to do as much research as you can on the Medicare eligibility requirements. The more you know, the better equipped you’ll be to make the decision that’s right for you.

Review your current plan
As you take stock of your current plan, consider the following:

• Benefits and coverage
• Total costs
• Convenience
• Your overall satisfaction

What do you like about your current plan and what would you change if you could? This will help you narrow in on what exactly you’re looking for.

Organize your information
Keep important information and documents organized in a single location. Use file boxes to store papers and a dedicated folder on your computer to store digital documents (remember to back up your files using the cloud or an external hard drive). This will help you easily locate these items when needed.

According to the SSA, to apply for Medicare, you will need to gather information on:

• Your current health insurance
• Your marriage and children, if applicable
• Your military service, if applicable
• Your employment or self-employment
• Your bank account

With a little education, planning and organization you will have everything you need for next year!

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