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MEDICARE ANSWERS

How much do I pay to have Original Medicare or Medicare Advantage?

Your Medicare coverage is not fully funded by the Medicare contributions you made when you were employed. You may be eligible for Part A Medicare coverage that is premium-free (no monthly cost) if you have paid Medicare taxes for a sufficient amount of time while working (often 10 years or 40 quarters by Social Security standards).

    1. Hospitalization and other inpatient treatments are covered by Medicare Part A. Depending on the number of years they have worked, individuals who haven't made enough Medicare tax contributions may have to pay a premium for Part A.

    2. In addition to Part A, you'll also need Part B coverage, which pays for things like doctor visits and other medical services. The Part B monthly premium changes annually, but there are mandatory premiums associated with Part B Medicare.

Higher earnings receive an extra Income Related Monthly Adjustment Amount (IRMAA), which raises the amount the beneficiary pays. In other words, if you were a high-income earner, your Part B provider premium would be more than the average beneficiary's middle-income premium. Keep in mind that with all parts of Medicare or Medicare Advantage, there will still be co-payments, coinsurance, and deductibles for certain services and products.

MedHelpCenter.us recommends that you call the Senior Health Insurance Agency at 813-592-8568 for further explanation.

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