Of course, the vast majority of US retirees qualify for Medicare, and most of the choose Part A and Part B. Although it is bit more complcated than this, PART A is considered the “hospital plan”, and Part B is considered the “medical plan”. The covered person does not pay an extra premium for Part A, but the part B premium is usually withdrawn from a social security check. Many retirees are aware of the Part B premium, but some do not even realize it.

Basic Medicare does not cover every medical need, and it comes with deductibles and copays just like other health insurance plans. Many seniors opt for better health coverage than Medicare. They choose a Medicare Supplement or a Medicare Advantage type plan. Any medicare beneficiary, or caretaker, should understand Medicare health insurance for retired people.

Medicare supplements also have a premium, and they add benefits, and cover the deductiblles and copays. There are about a half dozen standard levels of coverage that seniors may choose from, and of course, they come with varying premiums. Some plans guarantee to lock in a rate, but most are subject to rate changes every year. Of course, most of the time these rate changes are increases. Rates also vary by zip code jand age ust like regular health insurance rates do.

Medicare Advantage plans are different than Medicare supplements. When a senior is enrolled in a Medicare Advantage Plan, it takes the place of basic Medicare, and usually provides more coverage and benefits. Some of these plans have an extra premium, some do not, and some actually “refund” a part of the Part B premium back so the senior has more money in their social security payment ever month. This is because these plans are funded by the Medicare tax money, and the premium (or lack of one) is the cost to the senior after the tax money is accounted for.

Now Medcare Advantage rates do not vary by age, but they do vary by zip code and type of plan.

If you would like some help, use our fast and free online form: Compare Health Insurance Rates.

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