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Answers to your Medicare questions

Health insurance is a big part of retirement planning. Learn when you may be eligible for Medicare benefits.

If I retire at age 62, will I be eligible for Medicare at that time?

No. Medicare benefits do not begin until a person is age 65. If you retire at age 62, it's important to make sure you can maintain medical coverage until you reach age 65.

You may be able to purchase coverage through your employer, or your spouse's employer. Or you can purchase insurance individually.

Also, make sure you understand the costs of these options and differences in benefits before you make a final decision on when you'll retire.

Who is eligible for Medicare?

Generally, Medicare is available for people age 65 or older and younger people with disabilities. People with end stage renal disease—permanent kidney failure requiring dialysis or transplant—are also eligible.

Medicare has two parts:

  • Part A (hospital insurance)
    • Most people do not have to pay a premium for Part A.
    • You are eligible for premium-free Part A if you are age 65 or older and you or your spouse worked and paid Medicare taxes for at least 10 years.
  • Part B (Medicare insurance)
    • Everyone must pay for Part B if they want it.
    • This monthly premium is deducted from your Social Security, railroad retirement or civil service retirement check.
    • If you do not get any of these payments, Medicare sends you a bill for your Part B premium every three months.


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