Despite its importance to many Americans 65 and older, many people don’t understand how Medicare works. Below are some of the most common questions you may have about Medicare and how it impacts you.
How Can I Receive Medicare Benefits?
Many Americans are eligible to receive Medicare benefits when they reach age 65, as long as they’ve paid enough into the system while they were employed. In addition, people with medical disabilities and those with end-stage renal failure of any age may also receive benefits.
If you qualify, you’re automatically enrolled in original Medicare, which includes Medicare Part A, Medicare Part B, but you also have the option to sign up for Medicare Advantage, or Medicare Part D.
Do I Have to Pay for Medicare Benefits?
Your employer deducts 1.45 percent of your paycheck to go directly to the Medicare program. However, you’ll still need to pay discounted premiums to receive coverage.
If you’re receiving Social Security benefits, the amount of your premiums may be deducted from each month’s social security check. However, many Americans past 65 years of age won’t have to pay at all for Medicare Part A. Medicare Part B ranges in cost from $134 to $428.60 per month, depending on the income of the enrollee.
What Does Original Medicare Cover?
Medicare Part A is the most common type of Medicare, covering hospital visits, hospice care, home nursing costs, and nursing facilities. Medicare Part B pays for medical supplies, outpatient care, and preventive services such as lab testing. Dental care, vision care, acupuncture, hearing aids, and some long-term care, aren’t covered under Original Medicare.
Now that you know how Medicare benefits affect you, you’ll be able to take steps to find the coverage you need. If you have questions about the enrolling in Medicare, turn to the Super Senior Connection community for assistance.
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