The price of Medicare depends on you the health plan that you choose. Medicare is not free and you will pay a premium, which is often deducted from your Social Security check, for Part B along with an annual deductible and a percentage, usually 20%, of the total bill. Purchasing supplemental insurance can help contain costs associated with deductibles, co-payments and prescription drugs. When meeting with a licensed insurance agent, make sure you understand any coverage rules that may affect your costs by asking them the following questions.
- How much your premiums, deductibles, and other costs will be?
- How you’ll pay for services like hospital stays or doctor visits?
- Is there a yearly limit on what you could pay out-of-pocket for medical services?