Many people today have either started their own business or ventured into the workforce as a freelancer or contractor. If you’re self-employed and are about to enroll in Medicare, you may not be aware how self-employment impacts your Medicare choices. And in some cases, you could actually gain some tax benefits as a self-employed individual.
Today, it’s not uncommon for people who leave the workforce around Medicare eligibility age (age 65) to return to work later on. In fact, it’s estimated that by 2026 about 30 percent of people ages 65 through 75, and 11 percent of people 75 and older, will be working. Maybe it’s a passionate side-gig, a part-time job or you’ve gone back full-time. In any case, when you go back to work, what does that mean for your Medicare coverage?
Mammograms may rival colonoscopies for the least-favorite screening test among women. In spite of this, many women stick to a regular schedule of getting them—and with good reason.
When a veteran becomes eligible for Medicare, he or she may already have other insurance such as from an employer, the Veterans Administration (VA) benefits or TRICARE. Because of this, you may ask the following:
Some people can qualify for Medicare due to disability. In this case, if you have a qualifying disability, you are eligible for Medicare even if you are not yet age 65. To find out if your disability qualifies for disability benefits or for Medicare, you’ll need to speak with Social Security directly, but in general, you become eligible the 25th month of receiving Social Security Disability Insurance benefits (SSDI).
Medicare fraud can be big business for fraudsters and a big problem for taxpayers. And emergent health crises, such as the one around COVID-19, may create environments prime for scammers to take advantage of unsuspecting people.
If you’re planning to retire in 2020, there are some things to know about Medicare enrollment. Depending on which situation you best match below, you have some options to think about. Read through a quick list of things everyone should know about Medicare and then find the situation that best matches you.
In 2018, a Nationwide Retirement Institute survey found that despite nearly 86 percent of older adults being enrolled – or planning to enroll – in Medicare, a whopping 72 percent wish they had a better understanding of Medicare coverage. The study further found the following as misconceptions that people have about Medicare:
The first time most people can enroll in Medicare is during their Initial Enrollment Period (IEP). This 7-month period begins three months before the month in which you turn 65 and ends three months after. But, what if you miss your IEP? What happens?