A cash windfall should not affect your Medicare eligibility because Medicare is not based on income. A cash windfall may, however, affect the amount that you pay for Medicare premiums. Most people receive Medicare Part A (hospital insurance) without paying a premium, and they pay the standard premium for Medicare Part B (medical insurance). However, if your modified adjusted gross income is above a certain amount, you may pay more.
For more information about how a cash windfall may affect your Medicare eligibility and premiums, contact a tax attorney or your local Social Security office.
Continue Learning about Medicare
Important: This content reflects information from various individuals and organizations and may offer alternative or opposing points of view. It should not be used for medical advice, diagnosis or treatment. As always, you should consult with your healthcare provider about your specific health needs.