Medicare is our country's national health insurance program for people age 65 or older, certain people with disabilities who are under age 65, and people who have permanent kidney failure. It is administered by the Health Care Financing Administration. After you become 65, you will be eligible for Medicare whether you continue to work or not. Medicare has two parts:
- Part A is hospital insurance that helps pay for inpatient hospital care and some follow-up services
- Part B is medical insurance that helps pay for doctors' services, outpatient hospital care, diagnostic tests, prosthetic services, physical therapy and other medical services. Part B is an optional program, and you pay a fee for benefits.
Medicare will not pay for 100 percent of your medical expenses. Therefore, you should:
- Make sure that any other health insurance coverage you have, such as an HMO or employer's plan, knows you are eligible for Medicare.
- Consider obtaining a medigap insurance policy that may cover Medicare's deductibles and "fill in the gaps" in your Medicare coverage
- Study the Medicare Handbook and other resources to understand exactly what health coverage you have under Medicare.
How Do I Apply for Medicare?
Go to your local SSA office three months before your 65th birthday and complete an application. Ask for a copy of the Medicare Handbook. If you are already receiving Social Security benefits when you turn 65, you will automatically be enrolled in Medicare. If you are disabled, you will automatically be enrolled in Medicare after you have been getting disability benefits for 24 months.
