age to collect medicare benefits
Today's 47-year-old man will have paid an estimated $87,000 in Medicare taxes, on average, by the time he turns 65. His expected lifetime Medicare benefits would be $251,000. And a 47-year-old woman would collect $275,000 in benefits, on average, because women live longer than men. However, the age to get full Social Security retirement benefits (called. your “Full Retirement Age”) has changed for some people. It now depends on the. year you were born, and some people don’t get full retirement benefits until age 67. To find out when you will reach your full retirement age and how that affects your. Social Security retirement benefits, visit www.socialsecurity.gov on the web. If you do not qualify on your own or your spouse's work record. Provided that you're a U.S. citizen or have been a legal resident for at least five years, you can still get full Medicare benefits at age 65 or older by: Paying premiums for Part A (hospital insurance). If you have fewer than 30 work credits, you pay the maximum premium, $411 in 2016. If you have worked for at least 10 years and paid Medicare (FICA) taxes, AND you are at least age 62, your spouse can get Medicare Parts A & B when he turns 65. If you have worked at least 10 years but are not yet age 62 when he turns age 65, he will not be eligible for premium-free Part A until you are age 62. He should still enroll in Medicare Parts B and D, however, in order to avoid a penalty later on. Medicare assigns a 10% late enrollment penalty when people do not join Part B when they’re first eligible, generally at age 65. The penalty grows every year a person waits to enroll; for example, waiting four years results in paying 40% more each month. Most people are eligible to get Medicare when they reach the age of 65. Some people who are younger (ages 18 to 65) and have certain disabilities that prevent them from working can also get Medicare. To get Medicare Parts A & B (Original Medicare), you must meet the following criteria. You can also qualify for premium-free Part A benefits on your spouse's work record if he or she is at least age 62 and you are at least age 65. You also may qualify on the work record of a divorced or deceased spouse. Following the Supreme Court's 2015 ruling, people in same-sex marriages can qualify for Medicare on their spouse's work record, regardless of where they live or where they were married. You qualify for full Medicare benefits under age 65 if: 1  You have been entitled to Social Security disability benefits for at least 24 months (which need not be consecutive); or.  You receive a disability pension from the Railroad Retirement Board and meet certain conditions; or. Medicare is individual, not group/family, insurance. To get Medicare, a person must be eligible based on age or disability. Therefore, anyone who qualifies to receive Medicare can get it – regardless of work history. If you are getting Social Security benefits, the Part B premium is taken out of your. monthly Social Security payment. If you don’t get full Social Security benefits yet, Medicare will send you a bill for your Part B premium every 3 months. If you aren’t eligible for full Social Security retirement benefits at age 65, and you. aren’t getting Social Security benefits, you can still get your full Medicare benefits. (including premium-free Part A) at age 65, but you must contact Social Security to. sign up.
Age 65