Don't people know that medicare is not free?

  • by Neengefan
  • Aug 06,2018
  • 5 answers

Don't people know that medicare is not free?


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Insurance Answers (5)

Judith 3 months ago

If this was news to you then YOU weren't paying attention. You aren't telling people something they don't already know. I know of no one who doesn't know that they will pay a premium for Part B (Medical) of Medicare. Most people with Part A (Hospital) don't pay premiums either but some do. That's because most people paid into the social security program when they worked and a portion of the SS tax went for Part A Medicare coverage. Those who didn't pay into the social security program or didn't pay the portion that went toward Part A coverage pay hefty premiums for Part A of Medicare (well over $400 a month).
Medicare is, after all, health insurance. Why would anyone think it to be free? The only free health insurance is Medicaid (or in California MediCal) which is a welfare benefit. Even then taxpayers pay for Medicaid through income taxes.

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Lili 3 months ago

Of course they do. All such programs, in the US and abroad, are paid for with taxes -- via deductions from your paycheck or pension.
In many other countries, however, their national health care programs (which cover everyone, not just the elderly) do not normally charge MORE money at the point of service. You do not have to pay high deductibles or out-of-pocket expenses. You MIGHT have to make a small co-pay but not always. You also don't have to buy supplemental insurance, because the program covers everything.
So, you pay upfront, via your taxes, and you get what you need -- more and better services than many private health insurance plans offer in the United States -- at no additional cost.

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curtisports2 3 months ago

Part A is free if you have met the '10 years of substantial earnings' test, formerly known as '40 quarters'. Parts B and D are not free, and Part C is optional, bought through private companies, and may or may not cost anything.

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Zarnev 3 months ago

Many people, especially those touting 'Medicare for All' do not realize the actual cost of Medicare.
Part A is not "free". Part A is paid by workers paying the Medicare taxes throughout their work life and is only "free" if you've worked 40 quarters. If you haven't paid taxes into Medicare your Part A premium is up to $413 per month. However, the average worker has paid taxes for over 160 quarters so if you take that into consideration the Part A premium would be much higher.
On top of Part A you have a Part B premium of around $134 per month. To keep the Part B premium that low high income individuals pay up to $428.60 per month.
When you use Medicare you have a $1340 Part A deductible per occurrence. If you have a lengthy hospital stay you're also paying a hospital co-pay of up to $670 per day.
You're paying a $183 annual deductible, plus at least 20% co-insurance for most procedures. Some procedures can have a co-insurance of up to 50%.
Part D premiums vary greatly, in my area they run from $12.70 per month up to $96.90 per month. Part C premiums can run $0 up to nearly $200 per month depending on location, and Medicare Supplements can run over $300 per month depending on type, age, and location.
So no, Medicare is not "free".

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unu 3 months ago

SS is "free" in that you paid taxes to qualify and receive monthly monies. Medicare is not free and this is the medical coverage. they take money every month out of the SS which reduces what goes in the bank.
You can refuse medicare but you are screwing yourself in the log run.

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