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Medicare, Medicaid, Life and Health Insurance/Cost for Medicare vs pre-medicare plan


I'm 63 and used to pay a ton for individual health insurance, almost $400 mo in premiums with a very high deductible. But with the Affordable Care Act(ACA) and based on my income, I pay only $57 a month for a health plan that also has a low deductible. It's really helped me out. But assuming people are required(?) to be on Medicare at age 65, the cost for the supplements will be much more than the individual health plan I now have through the ACA, something like $250-$300 vs the $57. Am I understanding this correctly, and I'll have to actually pay a lot more for Medicare than what I'm paying now??  Thanks

Once you are 65, medicare becomes your primary insurance carrier.  The cost is about $100 a month for Part B which are for your physician services.  If you have worked 40 quarters or more in your lifetime and paid into Medicare with payroll deductions you will not pay for Part A which are the facility fees.(hospital). Check in your area for the Medicare HMOs which may give you more benefits but you will have copays.  Also with Medicare they will only pay 80% of the, approved amount leaving you with a sizable balance unless you have a secondary insurance.  but.. don't panic.  you may be eligible for Medicaid when you turn 65 which will pay not only your medical bills but your Medicare premium.  and what I tell you today may change tomorrow.  You are wise to ask questions now but things could, easily change.  

Medicare, Medicaid, Life and Health Insurance

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Merry Schiff


I am very familar with Medicare and general insurance questions. I can answer general questions about HMO's.


I have been in the medical billing industry for 50 years. I have helped develop software for this industry. I am a consultant to billers and the medical profession.

I am the Executive Director of NEBA, a medical billing organization with nearly 1000 members.

I have been teaching medical billing for many years as well as being a published author with Pearson Education. One book on medical billing (nearly 800 pages) and one on HIPAA.

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