How much does Medicare cost?

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Some people think Medicare is free, but that’s not entirely true.

By Mike Felice, HealthMarkets Insurance Agency

Over the next few months, we’re going to be exploring the top 10 Medicare questions I get asked and unpacking them one by one. This month the question is: How much does Medicare cost?

Some people think Medicare is free, but that’s not entirely true. If you worked 40 quarters in your life, Medicare Part A is available at no cost. It covers hospital, hospice and skilled nursing stays.

Part B for most people costs $135.50, which is the standard cost unless you’re in a higher income bracket. Medicare Part B covers doctor visits, testing and outpatient procedures.

Medicare Part A and Part B can be considered the fixed costs of Medicare. Everything else falls under the controllable cost category and can be tailored to suit your budget. So, for example, if you want coverage for prescriptions, vision and dental, there are plans available with a premium and some options with low or no premium. Your Part B premium will still apply.

Coverage options aren’t just black and white. There can be a lot of grey area to consider in between. My goal is to get the coverage that best fits your needs and budget. I offer a Medicare 101 educational event for clients to help them understand the options. Give me a call to get more information on how you can participate.

Regardless of where you fall on the Medicare spectrum, I can help you decipher what’s available to you, what your costs will be and how you can maximize your coverage.

Give me a call to find out how you can participate. As with all of my services, there is no charge to attend or meet with me.

HealthMarkets North Olmsted is located at 28881 Lorain Rd., in North Olmsted. Hours are Monday-Friday, 9 a.m.-5 p.m.. Other times by appointment. To get started with your free review, call Mike directly at 440-378-4210.

HealthMarkets Insurance Agency, Inc. is licensed as an insurance agency in all 50 states and the District of Columbia. Not all agents are licensed to sell all products. Service and product availability varies by state. Agents may be compensated based on enrollment. Medicare has neither reviewed nor approved this information. HMIA007113