Due to the intertwined nature of Medicare and Social Security, there’s a common mix-up between these two distinct entities. While they have several interlinking features, Medicare and Social Security stand as individual federal programs.
Medicare – This program extends its health coverage to individuals aged 65 and above, those battling long-standing illnesses, and patients suffering from terminal kidney ailments.
Social Security – This acts as a governmental retirement scheme accessible to individuals who have surpassed the age of 62 and are living with persistent disabilities. Recipients of Social Security are entitled to Medicare benefits, and the reverse holds true as well. Furthermore, there are a handful of other areas where Medicare and Social Security’s paths cross.
Enrollment: Registering for either program necessitates initial enrolment through the Social Security Administration. If you’re looking to sign up for a Medicare plan or postpone your Medicare benefits (perhaps to switch back to a work-based plan), the Social Security Administration is your go-to.
Premiums: Increases in Medicare premiums are linked to the sum of Social Security retirement benefits. Typically, Medicare Part B premiums are subtracted directly from an individual’s Social Security retirement checks.
Eligibility: Those who are beneficiaries of Social Security Disability (SSD) are enrolled in Medicare without extra steps. Likewise, individuals who collect Social Security retirement funds at the age of 65 are concurrently enrolled in Medicare (though they hold the option to delay Medicare should they possess alternative coverage).
