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Medicare Rates

Finding Medicare rates is not that simple. The amount you'll spend can vary depending on the type of coverage you have, your income and assets, and many other factors.  For most people Medicare Part A is free. Most people do not have to pay any Medicare rates. That's because they or their spouses were paying Medicare taxes while they worked.

You might have pay Medicare rates for Medicare Part A if you were self-employed or didn't work during much when you were younger. If you or your spouse paid Medicare taxes for less than 10 years total, you will have to pay a monthly fee for Part A coverage.

Part B isn't free. You have to pay Medicare rates monthly premium, which is usually taken right out of your Social Security check. Part B is optional. If you don't want it, because you have other coverage through an employer, for instance, you don't have to pay for it. But you have to ask to opt out. If not, the Medicare premium is subtracted from your Social Security check automatically.

Medicare Advantage is health plan sold by insurance companies but overseen by Medicare. They are alternatives to Original Medicare, and usually offer more services than Original Medicare at a higher price. To qualify for Medicare Advantage, you need to have Medicare Parts A and B. So that means that you'll at least need to pay Medicare rates of the Part B monthly premium. On top of that fee, you may need to pay Medicare rates monthly premium for the Medicare Advantage plan itself. The prices vary a great deal depending on the plan you've chosen. Some may have further charges, like deductibles and premiums for additional coverage for things like prescription drugs.

With Part D, you must pay a monthly premium and annual deductible to get prescription drug coverage from Medicare. Since there are many different plans, the Medicare rates can vary widely.  

Therefore, in most plans, you'll have Medicare rates for a monthly premium. 1.) The fee varies by plan and region, although the average is estimated to be $38. 2.) A yearly deductible. The standard is $320, although it varies depending on your plan.  After you have paid the deductible out of your own pocket, your Medicare prescription drug plan kicks in. 3.) Part of the cost of your medications. Again, the amount depends on the plan you've chosen, so, choose wisely.