
Medicare explained
Medicare Advantage vs. Medicare Supplement plansLorem Ipsum is simply dummy text of the printing and typesetting industry.
Whether you’re new to Medicare or could use a refresher, here are some common Medicare terms explained:
Coinsurance is a percentage of your medical and drug costs you may be required to pay as your share of costs for medical services or supplies (for example, 20% of the cost of a prescription drug).
Copayment is a specific dollar amount you may be required to pay as your share of the cost for medical services or supplies (for example, a $10 copay for a healthcare provider visit).
Deductible is the amount you pay for medical services or prescription drugs in a plan year before your plan begins to pay for benefits.
Premium is the amount you are required to pay each month to Medicare or your private insurer for your healthcare coverage.
To learn more, check out our list of definitions for common Medicare terms
Humana Medicare plans offer benefits beyond what Original Medicare covers. Explore all of the plans available in your area today!
What it helps cover:
What it costs:1
Most people generally don't pay a monthly premium for Original Medicare Part A because they paid Medicare taxes while they were working. However, there are costs you may have to cover.
Other Part A costs for 2024:1
What it helps cover:
What it costs:1
Your Part B premium could be higher depending on your income.
Other Part B costs for 2024:1
What it helps cover:
What it costs:1
What it helps cover:
What it costs:1
Medicare Supplement plans aare sold by private insurance companies, so prices, or premiums, can vary. 2 insurance companies may charge different prices for the exact same coverage.
Costs that you pay with any Medigap plan include:
For more information, check out how to compare Medicare Supplement plans.
You can first sign up for Medicare 3 months before the month of your 65th birthday and up to 3 months after your 65th birthday. This is called your Initial Enrollment Period (IEP). For more details, see how to sign up and apply for Medicare.
Depending on your eligibility, there are several times throughout the year you can join, switch or drop a Medicare plan. To learn more, explore these Medicare Enrollment Periods.
Medicare it isn't free and the amount you pay can vary. To learn more about deductibles, premiums and common out-of-pocket costs, check out these articles on Medicare costs.
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