Medicare cost — Durham, NC

Medicare is not entirely free after 65. While Part A, which covers hospital stays, is typically premium-free if you or your spouse have paid Medicare taxes for at least 10 years, Part B has a monthly premium for doctor visits and outpatient care. Deductibles and copayments also apply to many services.

Medicare is the federal health insurance program for people 65 and older, and for younger individuals with certain disabilities or End-Stage Renal Disease. It provides coverage for inpatient hospital services (Part A), medical services and outpatient care (Part B), prescription drugs (Part D), and managed care plans (Part C). It's a cornerstone of healthcare for many Americans.

Original Medicare generally does not cover long-term care services, cosmetic surgery, routine dental care, routine vision exams for glasses, hearing aids, and routine foot care. Some Medicare Advantage plans might offer limited coverage for some of these items, but they are not standard benefits. Separate insurance is often needed.

The main requirements for Medicare are typically being 65 or older, being a U.S. citizen or having resided legally in the U.S. for at least five years, and having a qualifying work history (you or your spouse worked and paid Medicare taxes for at least 10 years). Certain individuals with disabilities also qualify.

Your monthly Medicare costs depend on your coverage. Most people don't pay a premium for Part A if they have the required work history. However, Part B has a standard monthly premium, which can increase if your income is higher than a certain threshold. Part D plans also have their own premiums and potential copays.

Your actual Part B premium may be higher if your income exceeds specific limits, a situation known as Income-Related Monthly Adjustment Amount (IRMAA). Many beneficiaries pay less than the standard rate.