Medicare Part A can prove to be one of the most helpful health insurance policies one can get. Hospital stays, emergency room visits, and time spent receiving care in a skilled nursing facility can rack up costs. Luckily, Medicare Part A deals with these costs, and for some, Medicare Part A does not require any monthly payments.
The question is – who gets Medicare Part A without having to pay monthly premiums?
The Importance of the Initial Enrollment Period
The Initial Enrollment Period begins three months before you turn 65 and goes until the three months following your 65th birthday. Once you miss this, you will not only have to pay for a Part A premium, but you will have to pay an additional percentage on top of the standard cost as part of the late enrollment penalty.
Those who receive benefits from Social Security or the Railroad Retirement Board will receive a Medicare card in the mail three months before turning 65. This group will not have to pay monthly premiums for Part A.
Premium-free Part A is also available to those who have been receiving disability benefits. Those who receive disability benefits will be enrolled in the 25th month after first receiving disability benefits.
Who Doesn’t Qualify?
Premium-free Part A requires you to have paid Medicare taxes for a certain period of time. If you have not paid enough in Medicare taxes, then you will not be eligible.
Also, this is assuming you’ve joined Medicare right when you were in your Initial Enrollment Period. After that time is up, you can expect to pay beyond the standard $252 per month premium. A late enrollment penalty may add up to 10% extra, which means you could be paying an additional $25.20 every month. In short, you either join when you’re first eligible and pay nothing in monthly fees. Or, you could be paying roughly $277.20 every month because of joining after your Initial Enrollment Period has passed. This penalty will last for double the amount you went without Part A coverage. For example, suppose you went without Part A coverage for three years because you missed your Initial Enrollment Period. In that case, you will pay the penalty for six years. The decision is yours to make.
Keep in mind that if you meet the requirements listed above, you will also be automatically enrolled in premium-free Part A. You may also be automatically enrolled in Part B, but you will need to pay the premium, regardless of how you are enrolled.
Need Help?
If you have any questions about getting premium-free Medicare Part A, please contact us today by calling 800-805-6834.
