Is Gaining Medicare A Qualifying Event To Drop Health Insurance?

Have you been hearing a lot of chatter lately about the Affordable Care Act (ACA)? If so, you’re not alone. ACA is one of the most talked-about and controversial pieces of legislation in recent years. But what exactly is it, and what does it mean for you? In this blog post, we will explore Medicare as a qualifying event to drop health insurance. From there, we will discuss some of the pros and cons of dropping health insurance, and how Medicare can help you gain access to quality healthcare.

What Is Medicare?

Medicare is a federal and state health insurance program for people aged 65 or older, and for people with certain disabilities. Medicare provides coverage for doctor visits, hospital bills, prescription drugs, and other medical expenses. You may be able to get Medicare if you’re already receiving Social Security benefits. If you’re not yet eligible for Social Security benefits, you can still get Medicare by paying premiums. Some people also receive Medicare through a employer.

To qualify for Medicare, you must have been born before December 31, 1954. You must be an US citizen or resident alien, have been: 55 years old or older when you first became eligible for Social Security benefits, or disabled since before the age of 27 (you don’t need to prove that the disability is still disabling), and have paid into the system for at least 10 years. If you’re married and your spouse is also eligible for Medicare, both of you are covered together.

If you become disabled while waiting to become eligible for Social Security benefits, your entitlement to those benefits will continue while you wait to become entitled to Medicare. Once you become entitled to Medicare, your entitlement to Social Security benefits will stop.

RAISE Act: What It Would Do and Why It’s a Big Deal

The RAISE Act, if passed in its current form, would fundamentally change how the U.S. healthcare system works by removing the requirement to maintain health insurance. The purpose of the act is to reduce costs and increase access to quality healthcare for all Americans, while preserving protections for people with pre-existing conditions.

The following are just a few of the reasons why the RAISE Act is so important:

1) It Would Reduce Costs: The act would allow people to purchase insurance across state lines, which would lead to lower premiums and increased competition. This would result in cheaper premiums for everyone, including those who currently have health insurance.

2) It Would Increase Access To Quality Healthcare: The act would remove the requirement that people have health insurance in order to receive government-provided healthcare benefits, such as Medicare and Medicaid. This would free up resources that could be used to provide more expensive care for those who do not have insurance or who have inadequate coverage.

3) It Would Preserve Protections For People With Pre-existing Conditions: The act preserves protections for people with pre-existing conditions by requiring insurers to offer policies that meet certain standards (such as covering essential health services). This allows people with pre-existing conditions to still receive affordable coverage while ensuring that they are not discriminated against based on their medical history.

What If I Qualify for Medicare but Don’t Want Insurance?

If you are 65 or older and meet the requirements for Medicare, you may not need health insurance. However, if you want to keep your health insurance, you may have to qualify for Medicare before your policy will be cancelled. Here’s how:

You must be a U.S. citizen or national, have been a resident of the United States for at least five years, and be able to prove you are medically unable to work because of a disability. If you are already receiving Social Security benefits, those benefits will count as proof of your disability.

Once you qualify, the health insurance company must give notice to your carrier that you have qualified for Medicare. Once notified, the carrier must cancel your policy within 30 days unless you agree to continue it with additional premiums. If your policy is canceled after 30 days but before it has expired, the insurer can charge only a prorated premium for the remaining months of the term.

The Dangers of Not Having Health Insurance

The Affordable Care Act (ACA), commonly referred to as Obamacare, is a landmark legislation that was signed into law by U.S. President Barack Obama in 2010. The ACA is designed to provide affordable health insurance for all Americans through the establishment of state-based health insurance exchanges and the expansion of Medicaid.

In order for individuals to qualify for coverage through an exchange, they must have a valid health insurance policy or be enrolled in a qualifying health plan offered through their employer. If an individual does not have health insurance, they may be considered uninsured and may face potential tax penalties. The most significant penalty is a tax on employee contributions to their retirement accounts, which can amount to $3,000 per year for individuals who are single and $6,000 per year for those who are married filing jointly. Additionally, an uninsured individual may be subject to other types of penalties such as being denied entry into certain hospitals or being unable to receive government benefits such as food stamps or housing assistance.

An uninsured person may also be at risk for serious medical expenses if they fall ill or are injured. Not having insurance can lead to high out-of-pocket expenses when seeking treatment from a doctor or hospital, which could result in debt collectors pursuing unpaid medical bills. In some cases, an uninsured person may even require surgery or emergency medical care that cannot be provided without payment upfront.

Can Dropping Health Insurance Cause Problems With Your Medicare Benefits?

If you have Medicare and drop your health insurance, you may have to pay a penalty if you later need Medicare services. The penalty is 1% of your annual income, up to $200 per year. You may also have to pay another premium if you want extra benefits, such as outpatient care. If you don’t have Medicare, you can still get health insurance through the government-run exchanges. But if you drop your coverage, the government may deny your application for a subsidy on the exchanges.


If you are considering dropping health insurance because you think you may have reached the qualifying event, it is important to understand that this is not always the case. In fact, there are a few key things you need to know in order to be sure that this decision is the right one for you. First and foremost, it is important to speak with a healthcare professional who can help assess your situation and make an appropriate recommendation. Secondly, it’s important to keep in mind that whether or not you have Medicare coverage will affect how easy it will be to find affordable replacement health insurance. Finally, be aware of any restrictions on preventive care services under Medicare as well as prescription drug coverage – if those services are impacted by your current health insurance plan, they might not be available through a Medicare-based plan either.