Social Security Medicare – Eligibility, Plan & Payment Amount

The health insurance program in our nation for those 65 years of age or older is called Medicare. Through Social Security, you will enroll in Medicare Parts A and B. 

Social Security Medicare

The health insurance program in our nation for those 65 years of age or older is called Medicare. If you get disability payments or have chronic renal failure, you can also be eligible.

Its divided into two parts:

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Part A of Medicare

  • Your inpatient care in hospitals and skilled nursing facilities may be partially covered by Medicare Part A (Hospital Insurance). 
  • Hospice treatment and a portion of home health care are also covered.

Part B of Medicare

  • Medicare Part B (Medical Insurance) assists in paying for outpatient care and services provided by your doctors.
  • In addition, it provides coverage for certain medical services not covered by Part A, such as certain treatments provided by physical and occupational therapists, as well as supplies when required by medical necessity.

Social Security Medicare Program Eligibility 

A few months before you are eligible for Medicare, Social Security will get in touch with you if you are already receiving retirement, disability, or railroad retirement benefits, and they will provide you with the registration materials.

One of the following conditions must be satisfied in order for you to be eligible for this benefit program:

  • Are 65 years of age or older.
  • Obtain payments from Social Security Disability.
  • Possess specific impairments or chronic renal failure (even if younger than 65).

Social Security Medicare

Social Security Medicare Program Plans

Older and disabled people can get health insurance through the Medicare program. Hospital insurance (HI) is covered by Part A and is paid for by a payroll tax of 2.9 percent on all income, with no upper limit.

  • Supplementary medical insurance (SMI) is provided by Part B and is partially funded by retiree contributions. 
  • These only account for about 25% of SMI expenses; ordinary government money is used to fund the remaining amounts.
  • The Medicare system typically functions on a fee-for-service model. 
  • The Medicare system determines the rates at which providers are paid, and beneficiaries are required to pay a deductible and a copayment, which is usually 20 percent.
  • This program covers just around 10% of Medicare members, and enrollment has been dropping in recent years.
  • Additionally, the HI system’s cash surpluses are placed in interest-bearing, nonmarketable government assets and kept in a trust fund.

Social Security Medicare Payment Amount

Medicare Part A (Hospital Insurance) Prescription Fees for Part A  and Part B. Most people who paid Medicare taxes while they were employed are exempt from paying a Part A premium. 

Part A

You pay up to $505 a month if you do not receive Part A, which is free of cost. You may be penalized if you choose not to purchase Part A when you first become eligible for Medicare, which is often when you reach 65. 

  • Deductible amount per benefit period: $1,632 
  • The first sixty days of any benefit term are free. 
  • For days 61 through 90 of each benefit period, $408 per day 
  • After day 90 of each benefit period, $816 is paid for each lifetime reserve day.
  • Stay at a Skilled Nursing Facility By 2024, you will pay: $204 per day from days 21 to 100 of each benefit period; $0 for the first 20 days. 

Part B

  • The majority of individuals pay the Part B monthly premium, which will be $174.70 in 2024. 
  • The precise amount you will pay for Part B in 2024 will be disclosed to you by Social Security. 
  • In 2024, if you enroll in Part B for the first time, you pay the regular price.
  • Refuse to accept Social Security payments. 
  • Obtain both Medicare and Medicaid; Medicaid will cover your premiums. (In 2024, your state will cover the $174.70 standard premium.)

How do I apply for Medicare benefits?

Enroll in both a and b within the eight-month special enrollment period that starts the month your work ends or your group health coverage expires, whichever occurs first. There are some steps below them.

  • Just go to the Official https://www.ssa.gov/medicare 
  • The option sing up for midcare now is here. 
  • When you click on it, a new page will load.
  • Before completing the payment, double-check the deails and putt all information that required.
  • Simply add all requirements and press enter.
  • Available in English and other languages Monday through Friday from 8 a.m. to 7 p.m. in the majority of US time zones. Dial (800) 772-1213.
  • Inform the agent that you would like to enroll in Medicare Parts A and B, or Part A alone.
  • If you are hard of hearing or deaf, dial TTY +1 800-325-0778.

Go to NCBLPC Homepage.

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