Who must pay for Medicare?

Today we want to talk about who should pay for Medicare.

To answer this question, the different parts of Medicare must be considered in order to know who pays for each part and how much is paid for each part.

Medicare consists primarily of four parts: Part A for hospital, Part B for physicians, Part C, which is actually the Medicare Advantage plans, and Part D which is the prescription drug plan.

Generally, people who receive the Part A do not pay for this part, that is, they receive it at no cost, because this person or his or her spouse has already worked and paid Social Security contributions for at least ten years. Then this person already has what is called 40 quarters or credits required by Medicare to receive Part A at no cost. For those who have between 30 and 39 quarters saved, they can purchase Medicare Part A by paying $274 monthly in 2022. For the person who has less than 30 credits saved, you can buy it at a cost of $499 per month, which may be a little high, especially for those who have a small amount of income.

With respect to the Part B Medicare premium this year is costing $170.10. Most people pay this amount, but it depends on income. The higher your income, the more you may pay as much as $578.30 per month. Social Security determines how much Part B will cost you based on your income. Although some people do not actually pay for Part B, since they have very low incomes within certain limits and the State helps them pay this monthly premium with programs such as the Medicare Savings Programs y Medicaid. Some people qualify for both programs, but there are people who may not qualify for Medicaid, but may qualify for the Medicare Savings Programs according to their level.

The Part D The Medicare card is the prescription drug plan. Some people receive the Medicare card automatically, but the vast majority do not know how it works, what they should do if they need something else besides just getting the card and using it if needed, but it is extremely important that when you receive this card you have more options. In this case contact a local agency or a local agent. When you receive Part A and Part B, you should know that you qualify for Part D which is a prescription drug plan. It is very important to purchase one, even if you do not take medication. There are plans designed especially for these types of people costing you very little each month to avoid a penalty.

A plan of the Medicare Advantage (Part C) You can purchase it directly from a private company that offers it or from an agency like us, where we can, according to your needs, review the plans available in your area and help you see which plan gives you the best coverage at the lowest cost.

Many of these plans, depending on the area, have zero monthly premium as do others that do have a cost, and these help you control that 20% that Medicare doesn't cover. You only pay as you use the plan. It is important to know that you can get one of these plans if you have both Medicare Part A and Part B. If for whatever reason you only have Medicare Part A, you can get one of these plans. If for any reason you only have Part A and do not have Part B or vice versa, you cannot qualify because both parts are needed.

To receive advice on these plans also contact an independent agency, as they can review the available plans and help you with the ideal option according to your needs and preferences. If you do not have an independent agency, an independent agent, to help you with this whole process, with all these options and also to educate you when you have questions, we are glad to answer all your questions. We are present in several states across the country helping especially the Hispanic population with this transition and options. Making sure you have the ideal plan every year, helping you to review according to the changes in your health, according to your medications. Trust us and we will make sure you have the ideal plan.

Our local number is 512-520-5957 or you can call us on our toll free number which is 855-GO-AVILA. We are here to serve you.