Adding a Social Security and Medicare Safety Net Into Your Retirement Plan

WHO IS ELIGIBLE FOR MEDICARE?

will pay approximately $150 per month. Your premium could be higher if you are considered a high-wage earner. Medicare Part D plans are sold through private insurance companies so that the premium could differ from one policy to another. Likewise, Medicare Advantage plans (i.e., Medicare Part C) are also obtained via insurance carriers. However, Medicare Advantage participants will also be responsible for paying their Medicare Part B monthly premium. Medicare recipients may also have to pay various out-of-pocket charges, such as deductibles and copayments. Because these costs can be high, many Original Medicare participants purchase Medicare Supplement insurance (or “Medigap”) to help reduce these expenses.

To be eligible for Medicare benefits, a participant must have lived in the United States for at least five continuous years and be a permanent resident of the country. Also, qualified recipients of Medicare benefits must be at least 65 or over or have a specific type of disability.

HOW MUCH DOES MEDICARE COST?

For most people, Medicare Part A is free. However, if you do not have at least ten years of work credits, you may have to pay a premium. There is a premium required for Medicare Part B. Most Part B recipients

info@certifiedsafemoney.com www.certifiedsafemoney.com

10

CSM202101SSANDMEDICARE