Question: I am turning 65, and I would like to know: What is Medicare?
Answer: Medicare is our nation’s health insurance program for people age 65 and older. You may also qualify if you have permanent kidney failure or receive disability benefits. Enroll in Medicare through Social Security. You can enroll in Part A (hospital insurance) and Part B (medical insurance), or just Part A.
Part A helps pay for hospital care in hospitals, skilled nursing centers, and some outpatient home health care. Part A is free if you worked and paid Medicare taxes for at least 10 years. You may also be eligible because of your current or former spouse’s job.
Part B helps cover services from doctors and other health care providers, ambulatory care, home health care, durable medical equipment, and some preventive services. Most people pay a monthly premium for Part B which depends on your income level. (www.Medicare.gov)
Related: Medicare Made Easy Understanding the Basics: ABCD
Private companies execute Part C (Medicare Advantage) and Part D (prescription drug coverage). The federal government approves each plan. Costs and types of coverage vary by provider.
Part C is an alternative to Parts A and B that bundles together several types of coverage, including Parts A, B, and usually D. It may also include vision, audience, and dental insurance. You must enroll in Part A or Part B before enrolling in a Part C Medicare Advantage plan.
Related: Supplemental Security Income (SSI): What Is It?
Part D helps cover the costs of prescription drugs. You must enroll in Part A or Part B before you enroll in Part D.
Question: What is the Medicare premium for Part B this year?
Answer: The Part B premium for 2025 is $185.
Question: What is the average monthly retirement benefit for a worker?
Answer: The average monthly benefit is $1,976.
