WHAT DOES MEDICARE COST?
MEDICARE COSTS EXPLAINED
Contrary to what many believe, Medicare is not free. Read below to find out what costs you can expect to pay when enrolled in Medicare.
MEDICARE PART A
Free for Most People
Medicare Part A (Hospital Coverage) is free for most people, but there are instances where you may need to pay a premium for Part A.
You can may qualify for premium-free Part A if
Under 65:
You received Social Security Disability Income (SSDI) or Railroad Retirement Board (RRB) disability benefits for 24 months
You have End-Stage Renal Disease (ESRD) and meet certain requirements
65 or Older:
You or your spouse paid Medicare taxes for 10 years while working
If you are not on SSDI or RRB Disability and have not paid Medicare taxes while working for at least 10 years, you may have to pay a premium, up to $499 in 2022, for Part A.
MEDICARE PART B
$170.10 for Most People in 2022
Medicare Part B (Medical Coverage) is not free for most people and the premium may change from year to year.
However, there are income based programs available that you may qualify for that may pay the premium for you.
Senior Health Marketplace can help you find out if you qualify to have your Part B premium paid for you and then help you apply. Call us today at 888-895-0059
MEDICARE PART C
$0 to Low Premium
Medicare Part C, Medicare Advantage Plans, price will vary based on where you live.
Since Medicare Advantage plans are insurance plans provided by private health insurance companies, the plans and their cost will depend on where you live. Frequently, but not always, a $0 plan may be available. Surprisingly, a plan that has a cost may not be better for you than a $0 plan!
When choosing a Medicare Advantage plan, be sure to verify that each prescription is covered and that your desired medical providers accept the plan. Not doing so can result in an expensive mistake.
Before selecting a Medicare Advantage plan, you should know the differences between Medicare Advantage Plans and Medicare Supplements. Read our short article here.
Shopping for a Medicare Advantage plan by yourself can be time consuming, frustrating, and costly if done wrong. At Senior Health Marketplace, we have the tools to make this easy. Call us at 888-895-0059 to get help unbiased help from a professional.
MEDICARE PART D
Low to High Premium
Medicare Part D is optional Prescription drug coverage and like Medicare Part C, the plans vary by where you live. Plan premiums can range from under $10 to more than $100.
Not all plans cover all prescriptions the same. So this means that a plan that works well for your neighbor may not work well for you.
If you have a Medicare Advantage Part C Plan with prescription drug coverage, you will not need to have a separate Part D plan. In fact, if you choose a Part D plan you may accidentally disenroll yourself from your Part C plan.
Shopping for a Prescription Drug plan by yourself can be time consuming, frustrating, and costly if done wrong. At Senior Health Marketplace, we have the tools to make this easy. Call us at 888-895-0059 to get help unbiased help from a professional.
MEDICARE SUPPLEMENT
Low to High Premium
You may decide that you want the coverage flexibility of a Medicare Supplement to pay what Original Medicare does not.
Since Medicare Supplements are insurance plans provided by private insurance companies, their cost will depend on where you live, your gender, your age, and other factors. If you are around age 65, you can estimate a cost of $100 to $200 each month.
Before selecting a Medicare Supplement plan, you should know the differences between Medicare Advantage Plans and Medicare Supplements. Read our short article here.
Shopping for a Medicare Supplement plan by yourself can be time consuming, frustrating, and costly if done wrong. At Senior Health Marketplace, we have the tools to make this easy. Call us at 888-895-0059 to get help unbiased help from a professional.