Will you qualify for Medicare if you retire early?

[Stillwater007]

I plan to retire at 55 ( 5 years from now) after 30 years in Education. I've been paying into Medicare the entire time, and wondered how it works when you stop working and suddenly stop paying into Medicare. Someone told me that in order to still qualify (Part B I think?), that you have to continue to pay into Medicare, even if you are not working until you hit the qualifying age (62). But another co-worker indicated that everyone would qualify when they reach a certain age.

Any insight from many here I'm sure who have lived and experienced this type of scenario.

Thank you in advance.

 

[ShokWaveRider]

Here you go. All explained here:

https://www.aarp.org/health/medicare-qa-tool/qualifying-for-medicare/

 

[ExFlyBoy5]

Here you go. All explained here:

https://www.aarp.org/health/medicare-qa-tool/qualifying-for-medicare/

Relevant part for the OP:

To be “fully insured” you must have earned at least 40 work credits through paying Medicare payroll taxes at work (equivalent to about 10 years of employment). This guarantees that you pay no monthly premiums for Part A hospital insurance. You can also qualify for premium-free Part A on the work record of your spouse, including (in some circumstances) a divorced or deceased spouse. If neither you nor your spouse has earned 40 work credits, you can nonetheless receive Part A benefits by paying monthly premiums for them.

You don’t need any work credits to qualify for Part B or Part D services — you just pay the required monthly premiums.

 

[Stillwater007]

Thank you for the link and the emphasis. So it appears I will qualify for Medicare when I reach 65 (not 62) since I have worked over 10 years/ 40 work credits.

I was afraid it was going to be more complicated for us Early Retirees.

Thanks again!

 

[MissMolly]

As long as you have 40 credits (about 10 years work) for which you paid into Medicare you will qualify. It is not dependent upon you working until age 62, which is not a qualifying age for Medicare anyway. Medicare for most folks starts at 65.

https://www.healthline.com/health/medicare/medicare-work-credits

 

[pacergal]

OP--You will need to plan to pay for medical insurance for 10 years if you leave employment at 55. Medicare sign up is at age 65.

 

[NW-Bound]

OP--You will need to plan to pay for medical insurance for 10 years if you leave employment at 55. Medicare sign up is at age 65.

If the OP's employer does not offer retiree's insurance, then there's ACA to use till 65.

 

[N02L84ER]

Just be aware that after x years (I think it is 5 years) of not paying into Medicare you will no longer be eligible for Social Security Disability.

 

[jim584672]

Just be aware that after x years (I think it is 5 years) of not paying into Medicare you will no longer be eligible for Social Security Disability.

Can confirm. My Social Security statement now says I am not eligible for SSDI. Retired more than 5 years now.

 

[youbet]

Someone told me.......... But another co-worker indicated that everyone would qualify when they reach a certain age.

Here's a little advise from the DH of a retired teacher........

Don't listen to random statements and rumors regarding any of your benefits, especially from your fellow educators. For whatever reasons, I found that DW and her colleagues harbored more inaccurate information, speculation, etc., than I thought possible. Even on subjects easily researched.

You mentioned you paid into Medicare. Did you also pay into SS? Here in Illinois, most public school teachers pay into Medicare but not SS. Do you understand GPO and WEP? Will you be covered by a state retiree health plan from your retirement until Medicare?

 

[Tetto]

Sooo, if 40 credits is equal to at least 10 years of continuous work or just work, and if that’s the only caveat, at 56 I should qualify for part A. But I don’t, because the medic are website says you must be at least 65, apparently no matter the work credit status, no?

 

[youbet]

Sooo, if 40 credits is equal to at least 10 years of continuous work or just work, and if that’s the only caveat, at 56 I should qualify for part A. But I don’t, because the medic are website says you must be at least 65, apparently no matter the work credit status, no?

You can trust the Medicare web site ref the information regarding the qualifications for Medicare Tetto.

 

[MichaelB]

Sooo, if 40 credits is equal to at least 10 years of continuous work or just work, and if that’s the only caveat, at 56 I should qualify for part A. But I don’t, because the medic are website says you must be at least 65, apparently no matter the work credit status, no?

Yes, you qualify with the 40 credits of work, but become eligible for benefits once you reach age 65.

 

[youbet]

Yes, you qualify with the 40 credits of work, but become eligible for benefits once you reach age 65.

It would make zero sense otherwise. For example, I would have qualified for Medicare when I was 27 if there was no age eligibility requirement. I had 40 quarters credit by then.

 

[MissMolly]

Just any 10 years/40 credits of work. It doesn’t have to be continuous.

 

[audreyh1]

Just any 10 years/40 credits of work. It doesn’t have to be continuous.

+1 40 quarters, not necessarily contiguous.

 

[braumeister]

No need to feel bad about being confused. Medicare has only been around for 56 years and most of us are still ignorant about some it its provisions. Fortunately, they have plenty of folks whose job it is to answer our questions, and in my experience they do an excellent job of it.

 

[Tetto]

It would make zero sense otherwise. For example, I would have qualified for Medicare when I was 27 if there was no age eligibility requirement. I had 40 quarters credit by then.

Exactly! I got giddy there for a second…oh well, I can wait!

 

[Go Bolts]

The only way anyone gets on Medicare before age 65 is for them to be disabled or have End Stage Renal Disease. Period.

You will need a bridge until 65, might be ACA, retiree health insurance, etc.