For today’s guest post on Medicare, please welcome Danielle Kunkle Roberts from Boomer Benefits.
As you are looking at the future and trying to plan, there may be a few fundamental necessities you know you need to budget for. Health insurance is most likely one of them. Every situation is different, whether you are retired and starting Medicare at age 65 or working and will start Medicare after. Previous income can affect your Medicare premiums, and the supplemental coverage you may choose can determine what you will spend on health coverage in a year.
For most Medicare beneficiaries, Part A has a $0 monthly premium. However, if you have not worked at least 40 quarters in the United States, you will have to buy Part A. If you fall between 30-39 quarters, your premium will be $259 per month, and if you are lower than 30 quarters, it will be $471. Each time you are admitted into the hospital as an inpatient, there will be a $1,484 deductible per benefit period. Additional costs and coinsurance can occur while you are in the hospital.
Continue reading“An Overview of Medicare 2021”