“What is the Cost to Get Started with Medicare?”
Specifically, what is the cost to get started with original Medicare Part A and Part B. One size does not fit all. It’s like trying on a pair of shoes. Each person’s foot is different; so is each person’s situation. Just because it fits one person doesn’t mean it’s going to fit you – at least not the same way.
Let’s start with Original Medicare Part A. There are some individuals who do not have to pay a premium for Part A because they worked 40 quarters and paid Medicare taxes out of their paychecks. So, when they turn 65, Part A premium is already paid – because you already paid for it. It is a little different when talking about paying for Part A if you have never paid Medicare taxes and now want to have Part A. However, under different circumstances, some qualify for it based on their eligibility with no premium.
“What is the Premium for Medicare Part A?”
The standard Part A premium is $499 per month if you have never paid Medicare taxes or if you worked less than 30 quarters. If you worked 30 – 39 quarters, the Part A premium is $274.00. If you worked the full 40 quarters, there is no premium required to get Medicare Part A.
There are different situations which I do not have time to explain in this short video. This is another reason for you to give us a call at 425-418-9034, at Medicare Superhero Agency, to discuss your individual needs. We will make sure you understand what will work for you or your loved ones.
We love making Medicare plain and simple for people – which is the reason why I love doing what I do – and that is helping people to understand the benefits.
“What is the Premium for Medicare Part B?”
The standard premium for Part B in 2022 is $170.10 each month. Most people pay the standard Part B premium amount. If your modified adjusted gross income, as reported on your IRS tax return for two years ago, is above a certain amount, you will pay the standard premium amount and an income-related monthly adjustment amount, ERMA. ERMA is an extra charge added to your premium. Again, what applies to one person may not apply to you.
Never fear; Medicare Superhero is here anytime you have questions.
Contact us online, give us a call at 425-418-9034, visit our website, or visit our business Facebook page.
This is Bruce Wayne, Medicare Superhero, God bless you. Have a great day.
Related Medicare Information
- Answers to More Medicare Frequently Asked Questions
- Medicare Advantage Plans, Medicare Part C, adds benefits to original Medicare Part A and Part B
- Medicare Supplement Plans, Medigap, fill the gaps in original Medicare Part A and Part B
- Medicare Prescription Drug Plans, Medicare Part D
- Meet Bruce Wayne, Medicare Superhero
- Medicare Enrollment Periods