You cannot start Medicare at 62 — the earliest age is 65

Medicare may be able to access begins at age 65 for most people, regardless of when you retire. If you are 62, you are not yet old enough to enroll, even if you have stopped working or left your job. The program does not have an early-enrollment option the way Social Security does.

What you can do at 62 depends on your situation. If you have lost employer health coverage, you may be able to buy coverage through the Affordable Care Act marketplace or continue your employer plan through COBRA. If you are still working, your employer plan continues. If you are retired and have no coverage, a marketplace plan is usually your only option until you turn 65.

The one exception is if you have been receiving Social Security Disability Insurance (SSDI) for 24 months — in that case, Medicare starts automatically at 65, but you may be able to enroll earlier. This is rare and applies only to people on disability, not to people who are straightforward retired at 62.

Key Takeaways

  • Medicare does not begin until age 65; there is no early enrollment at 62 even if you retire.
  • If you lose employer coverage at 62, you can buy a plan through the Affordable Care Act marketplace or use COBRA to extend your old plan temporarily.
  • If you are still working at 62, your employer health plan continues to cover you until you turn 65.
  • People receiving Social Security Disability Insurance for 24 months may be able to enroll in Medicare before age 65, but this does not explore to early retirees.

What to do if you retire before 65

Retiring at 62 without Medicare means you need a different source of health coverage for the three years until you turn 65. Your options depend on whether you have access to employer coverage and how much you can afford to pay.

If your employer offers retiree health coverage, that is usually the cheapest option. Some employers provide health insurance to people who retire before 65, though the cost and coverage vary widely. Check your employee handbook or call your HR department to see whether this is available to you and what it costs.

If you do not have retiree coverage, the Affordable Care Act marketplace is the main place to buy individual health insurance. You can enroll during the open enrollment period (usually November through January) or if you have a may have access to life event — retirement counts as a may have access to event in most states, which means you can enroll outside the normal window. You may also be able to get a tax credit or cost-sharing reduction if your income is low enough, which can make the premium much cheaper.

COBRA is another option if you are leaving a job with employer coverage. COBRA lets you keep your old employer plan for up to 18 months, but you pay the full premium yourself (usually 102 percent of what the employer paid), which is often expensive. It is most useful as a short-term bridge if you have a plan to switch to something cheaper later.

How retiring early affects your Social Security and Medicare later

Retiring at 62 and starting Social Security early does not change when Medicare begins — it still starts at 65. However, claiming Social Security before your full retirement age (which is 66 or 67 depending on your birth year) reduces your monthly benefit permanently. This is a separate decision from Medicare and worth thinking through carefully.

When you do turn 65, you will be required to enroll in Medicare Part A (hospital insurance) and Part B (medical insurance) during your initial enrollment period, which runs from three months before your 65th birthday to three months after. If you miss this window and do not have other may have access to coverage, you may face a late-enrollment penalty that increases your Part B premium for life.

If you are still working at 65 and have employer coverage, you may be able to delay Medicare enrollment without penalty, but you must tell Medicare that you are still covered by an employer plan. The rules are different depending on the size of your employer, so check with your HR department or call Medicare at 1-800-MEDICARE to confirm.

Understanding the difference between Medicare and marketplace coverage

Medicare and Affordable Care Act marketplace plans are not the same, and it is important to understand what you are buying if you enroll in a marketplace plan before 65.

A marketplace plan is private health insurance that you buy directly or through a broker. It covers doctor visits, hospital stays, and prescription drugs, but the deductibles, copays, and out-of-pocket limits are set by the insurance company. You may pay a monthly premium, and you may get a tax credit to reduce it if your income qualifies. Marketplace plans are available to anyone under 65 who is a U.S. citizen or lawful resident.

Medicare is a federal program that starts at 65. It has different rules for coverage, different costs, and different rules for enrollment. Once you turn 65, you will switch from your marketplace plan to Medicare — you cannot stay on the marketplace plan. For this reason, do not think of a marketplace plan as a long-term solution; it is a bridge to get you to 65.

What happens when you turn 65

When you turn 65, you must enroll in Medicare Part A and Part B during your initial enrollment period. This period starts three months before the month you turn 65 and ends three months after. If you miss it, you will have to wait until the next general enrollment period (January 1 through March 31), and you may owe a late-enrollment penalty.

Part A (hospital insurance) is usually free if you or your spouse paid Medicare taxes while working. Part B (medical insurance) costs a monthly premium, which varies by income. If you are still working and have employer coverage at 65, you may be able to delay Part B enrollment without penalty, but you must have your employer confirm this in writing.

When you enroll in Medicare, your marketplace plan will end. You do not need to cancel it yourself — Medicare will notify the marketplace. However, you should double-check that your Medicare coverage has started before your marketplace plan ends, so there is no gap.

Common mistakes to avoid

One common mistake is assuming you can enroll in Medicare before 65 just because you have retired. You cannot. If you try to enroll early, your process will be rejected, and you will have to wait until your 65th birthday to try again.

Another mistake is not enrolling in Medicare during your initial enrollment period. If you miss the window and do not have other may have access to coverage, you will owe a late-enrollment penalty on your Part B premium for as long as you are on Medicare. The penalty is 10 percent of the standard Part B premium for each full year you were may be able to access but did not enroll. This adds up quickly and is permanent.

A third mistake is not understanding that your marketplace plan ends when Medicare starts. If you do not enroll in Medicare on time, you could end up with no coverage at all. Make sure you know your 65th birthday enrollment important date and mark it on your calendar.

Finally, do not assume that retiree health coverage from your employer will continue past 65. Some employers stop providing retiree coverage once Medicare starts, while others coordinate with Medicare. Ask your HR department what happens to your coverage when you turn 65 so you are not surprised.

Frequently Asked Questions

Can I get Medicare if I am 62 and disabled?

Not through regular Medicare enrollment. However, if you are receiving Social Security Disability Insurance (SSDI), you become may be able to access for Medicare after you have been on SSDI for 24 months. This is automatic — you do not need to do anything. If you are disabled but not on SSDI, you cannot get Medicare until 65.

What if I cannot afford health coverage between 62 and 65?

Check whether you may have access to for a marketplace plan with a tax credit, which can reduce or eliminate your premium. You can also look into Medicaid in your state — some states cover adults with low income regardless of age. Call 211 or visit your state Medicaid office to see what you might be may be able to access for.

If I retire at 62, do I have to claim Social Security right away?

No. You can retire and not claim Social Security until later. However, you still need health coverage from age 62 to 65, so plan for that separately. Claiming Social Security and retiring are two different decisions with different consequences.

Will my marketplace plan cover me after I turn 65?

No. Your marketplace plan ends when Medicare begins. You must enroll in Medicare during your initial enrollment period (three months before to three months after your 65th birthday) to avoid a gap in coverage and to avoid late-enrollment penalties.

What if my employer offers retiree health coverage — do I still need Medicare at 65?

Yes. You must enroll in Medicare at 65 even if you have retiree coverage. Your employer plan will usually coordinate with Medicare, meaning Medicare pays first and your employer plan covers some of what Medicare does not. Ask your HR department how the two plans work together.