Struggling financially? Here’s how to get help with your Medicare costs - VerywellHealth.com
Medicare is not free. Even if you qualify for premium-free Medicare Part A (inpatient hospitalization coverage), there are still copays and deductibles involved. And Medicare Part B (coverage for outpatient healthcare services) always carries a monthly premium ($174.70 for 2024), plus a deductible and copays. And you must still pay the monthly Part B premium even if you opt for a Part C Medicare Advantage plan. Prescription drug coverage (“Part D”) also carries a monthly premium unless included within Part C coverage. The point is, healthcare as we age is expensive, and many seniors find themselves struggling to pay for their healthcare and the premiums associated with their coverage.
Fortunately, help is available for those who financially qualify. Although certain income and asset criteria must be met, several options are available within the “Medicare Savings Program” to help offset your healthcare costs. And some of those enrolled in a Part C Medicare Advantage plan may, depending on where they live, be eligible for a full or partial reimbursement of their monthly Part B premium, as outlined in this VerywellHealth.com article by Nick Blackmer. Click here to read more.