- There are about 62.4 million people on Medicare, the majority of whom are at least age 65, which is when you become eligible for coverage.
- While some beneficiaries are automatically signed up, others may only partially enroll or take no action because they have qualifying coverage elsewhere.
- Missing the deadlines that apply to your situation could result in negative consequences, including financial penalties and/or a period of having no coverage.
While turning 65 makes you eligible for Medicare, not everyone will follow the same path to enrollment. Some beneficiaries are automatically signed up, while others may partially enroll or take no action until long after their eligibility age.
Roughly 62.4 million people are enrolled in Medicare, the majority of whom are age 65 or older. Basic Medicare consists of Part A (hospital coverage) and Part B (outpatient care and medical equipment). Most people qualify for premium-free Part A because they have a long-enough work history of paying into Medicare through payroll taxes. Part B comes with a standard monthly premium, which is $144.60 for 2020.
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