Medicare Enrollment
Enrolling in Medicare is typically done around the 65th birthday. This is when individuals have access to a wide variety of policy options and won’t have to pay any additional fees. If you decide to delay your coverage, then you’ll most likely have to pay more when you do enroll. Choosing to enroll in Medicare is an important decision and one that’s best to make sooner rather than later.
If you’re wondering whether or not Medicare is the right choice for you, be sure to do research and learn about all the different options available. Learning more about Medicare is an essential step in the process of picking the right policy for your specific medical needs. If you’re feeling confused or have some questions, reach out to an insurance agent. They’ll be able to provide you with more specific information and guide you towards the right policy choice.
Self-Employment
If you’re self-employed, then you may be wondering if you’ll still be able to enroll in Medicare. In short, yes. Medicare eligibility depends primarily on tax history and age at the time of enrollment. If you’ve paid the right taxes, you’ll be automatically enrolled in Medicare. If you haven’t paid the right taxes, you’ll still be able to get Medicare — but you’ll pay a premium for Part A.
Keep in mind that if you’re self-employed and have Marketplace coverage, you’ll need to enroll during your Initial Enrollment Period. Having Marketplace coverage does not mean that you’ll be able to get a Special Enrollment Period. Keep this in mind, because not enrolling on time could cost you significantly in the future.
Paying the Right Taxes
The self-employment tax includes a percentage for Medicare. If you’re paying that tax, then you’ll most likely be automatically enrolled in Medicare if you’ve been paying for long enough. If you’re feeling confused about this, make sure to ask whoever does your taxes. They’ll be able to assure you that you’re paying the right amount and will be eligible for Medicare.
Wondering if You Qualify for Medicare?
If you’re feeling anxious about qualifying for Medicare, make an appointment to speak with an insurance professional. They’ll be able to answer your questions and provide more detailed information about Medicare enrollment.
Rest assured, many people qualify for Medicare and are automatically enrolled around their 65th birthday. If you’re automatically enrolled, then you’ll be mailed a packet with information about your Medicare coverage and its details. Make sure to keep this packet and refer back to it if you have any questions. Remaining updated on your Medicare policy is one of the best ways to be sure you’re saving as much money as possible.
If you’re interested in learning more about being self-employed and enrolling in Medicare, let us know. Cornerstone Senior Advisors can make sure you have health insurance during retirement. Contact us to discuss your situation!