Healthcare

Changing from Marketplace to Medicare

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If you have Marketplace coverage and qualify for Medicare or are soon turning 65, consider getting your health coverage through Medicare instead of the Marketplace.

Once you're eligible for Medicare Part A (Hospital Insurance), you no longer qualify for savings on your Marketplace plan premiums or out-of-pocket costs. You'll have to pay full price for your Marketplace plan. 

Sign up for Medicare when you're first eligible

Your first chance to sign up for Medicare (called your "Initial Enrollment Period") is usually when you turn 65. It lasts for 7 months, starting 3 months before you turn 65, and ending 3 months after you turn 65. 

You may be eligible to get Medicare earlier if you have a disability, End-Stage Renal Disease (ESRD), or ALS (also called Lou Gehrig’s disease).

If you miss your Initial Enrollment Period, you may have to wait to sign up. You may also have to pay monthly late enrollment penalties that go up the longer you wait.

Find out how and when to sign up for Medicare.

End your Marketplace coverage

Marketplace coverage doesn’t end automatically when Medicare starts. Update your Marketplace application to end Marketplace coverage for those starting Medicare. You can report a Medicare start date on your application up to 3 months before Medicare starts. After you submit your application update, make sure you confirm the plan for others in your household who need to keep their Marketplace coverage. 

Get example of when to update your Marketplace application.

Avoid paying back the premium tax credit
If you don't end your Marketplace coverage, you may have to pay back some or all of the premium tax credit you used when you file your federal taxes. 

Marketplace coverage doesn't lower your out-of-pocket costs in Medicare. Medicare offers:

Can I keep my Marketplace plan if I have Medicare?

Get steps to end coverage

 


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