Why was Medicare created? This federal health insurance program covers a wide range of services to keep you healthy as you get older
There are four parts of Medicare, and it's important to consider which coverage is right for you.
Learn more about what it could cost you and find out how you can get expert help in exploring your Medicare options.
What is the cost of Medicare for 2023? How much does Medicare usually cost a month? Is Medicare free at 65? How much is Medicare Part A and B? For older adults on a budget, these are common questions.
Medicare encompasses a wide range of medical services and can play an instrumental role in helping seniors stay healthy and well. But Medicare is not free – and it does not cover everything.
Anyone with Medicare will pay for a portion of their expenses, but what is paid will depend on the type of coverage enrolled in – Parts A & B (Original Medicare), Part C (a private Medicare Advantage plan), a Part D prescription drug plan and/or Medigap (supplemental coverage).
Costs of Medicare include:
This is the amount you pay each month for Part B, your Medicare Advantage plan, Part D, and/or Medigap. Some people who do not have a work history may also have to pay a premium for Part A.
This is the amount you must spend before Medicare pays for your insurance benefit. For example, if you had a hospital stay covered under Part A in 2023, you would have to pay $1,600 before Medicare kicks in.
You may have to pay a portion of the costs of a covered drug or service. This is called a copayment or coinsurance. It is also sometimes called cost-sharing.
If you want to see and compare costs for health care plans, visit the take our Medicare assessment.
Need Help Thinking Through Your Medicare Options?
Am I qualified for Medicare? Are Medicare Advantage plans worth it? Does Medicare pay for prescriptions? Does Medicare cover cataract surgery? We know you may have many questions surrounding Medicare. If you need help sorting through your options, NCOA has a trusted partner that is committed to serving your Medicare selection needs and priorities at no cost to you. Our process connects you with licensed Medicare enrollment specialists backed by our decades-long commitment to helping older adults thrive. To learn more, connect with an enrollment specialist from Medicare Choice Group today.