Navigating Medicare can be confusing—especially with so many myths floating around. Let’s clear up the most common misconceptions so you can make informed decisions for yourself or your spouse.
Myth: You’re eligible for Medicare as soon as you retire.
Fact: Medicare eligibility typically begins at age 65, regardless of when you retire. Exceptions exist for individuals with qualifying disabilities, ALS, or end-stage renal disease, or those covered by the Railroad Retirement Board.
Myth: You can’t enroll in Medicare if you or your spouse are still working and have employer health coverage.
Fact: If you’ve paid Medicare taxes for at least 10 years, you’ll be eligible for premium-free Part A (Hospital), even if you’re employed. Many people enroll in Part A at 65 because it’s free and can supplement employer coverage. Whether you sign up for Medicare Part B—or delay—largely depends on the size of your employer. Check out this blog post for more information: When to Sign Up for Medicare If You’re Still Working at 65.
Myth: Spouses can share a Medicare plan.
Fact: Medicare is individual coverage. However, a non-working spouse aged 65 may be able to qualify for Medicare based on the working spouse’s history.
Myth: Widowed or divorced spouses can’t qualify based on a former spouse’s work history.
Fact: If you were married for at least 10 years before divorce or nine months before your spouse’s death, you may be eligible for Medicare based on their work record.
Key Eligibility Requirements Everyone Should Know
- You must be a U.S. citizen or a legal resident with a stable U.S. address for at least five years.
- Once enrolled, you must stop contributing to Health Savings Accounts (HSAs), though you can still use existing funds for qualified expenses.
Bonus Tip: Don’t Miss Your Enrollment Window
Most people must enroll during their Initial Enrollment Period (IEP)—a seven-month window around your 65th birthday. Missing it could lead to lifetime penalties. If you’re still working, you may qualify for a Special Enrollment Period instead.
Want more? Check out our blog, Understanding the Difference: Original Medicare vs. Medicare Advantage
We’re Here for You!
Bankers Life is here to help customers with their financial and insurance needs so please visit us at BankersLife.com to learn more.
Bankers Life is not affiliated with or endorsed by the U.S. government or the federal Medicare program.
