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What health care benefits are available in retirement?

Medicare

In general

Medicare

is a federal health insurance program created in 1965. Medicare primarily assists those who are 65 or older, but if you are disabled or have kidney disease, you may be eligible for Medicare coverage no matter what your age. Medicare currently consists of

Part A

(hospital insurance),

Part B

(medical insurance),

Part C

(which allows private insurance companies to offer Medicare benefits), and

Part D

(which covers the costs of prescription drugs), with each part having its own eligibility requirements. You may qualify for one or more parts, or you may choose to accept or decline coverage if you are eligible. Many health policies limit coverage for Medicare-eligible individuals regardless of whether they have accepted Medicare coverage.

Medicare benefits for disabled individuals

Under certain conditions, the disabled are eligible to enroll in Medicare before age 65. If you have been receiving (or have been entitled to receive) Social Security disability benefits for at least 24 months (not necessarily consecutively), you may be eligible to enroll in Medicare. To enroll, you must be entitled to benefits in one of the following categories:

·         A disabled individual of any age receiving worker’s disability benefits

·         A disabled widow or widower age 50 or older

·         A disabled beneficiary who is older than age 18 and receives benefits based on a disability that occurred before age 22

In addition, Medicare may be available at any age if you are disabled as a result of chronic kidney failure requiring dialysis or a kidney transplant. For more information, see

Medicare Benefits for Disabled Individuals.

Qualified Medicare Beneficiary program

If you have limited means, you may be eligible for the Qualified Medicare Beneficiary (QMB) program. Here, your state’s Medicaid program may pay for your Medicare Part B premium, Part A and Part B deductibles, and coinsurance requirements. Eligibility rules may vary from state to state, but in general, you must meet the following three criteria:

·         You must be entitled to Medicare Part A

·         Your income must be at or below the national poverty level

·         The value of your assets must be below a certain level

There are also other related programs that have somewhat less restrictive eligibility requirements. For more information, see

Qualified Medicare Beneficiary Program.

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