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UnitedHealthcare Medicare Blog
1. Premiums, Copays and More…Oh My!
Wednesday, November 20, 2013
8:58 AM
Thu, Oct 10, 2013 @ 09:00 AM
Premiums, Copays and More…Oh My!
Posted by Medicare Made Clear
October is Health Literacy Month, and Medicare Open Enrollment starts on October 15. What
better time could there be to make sure you understand the terms Medicare uses to describe
your Medicare costs?
Whether you get your Medicare benefits through Original Medicare or through a Medicare
Advantage, you are likely to have some out-of-pocket costs. The key is to understand upfront
what you will be charged for and how the amount you are charged is determined. With this
information, you can start to estimate what you might pay out-of-pocket with different plans
you might be considering during Medicare Open Enrollment.
Here is a brief explanation of the main ways that Medicare shares the cost of your care with
you.
• Premium – This is a fixed amount you may have to pay, usually monthly, to participate
in a Medicare Advantage or other private Medicare health plan. If you are enrolled in
Medicare Part B, you also pay a premium to Medicare. Part A is premium free for most
people. Some Medicare Advantage plans do not have a premium.
• Deductible – This is a fixed amount you must pay for your medical care before
Medicare or other insurance pays. Deductibles apply during a calendar year, and the
amount can vary among private Medicare plans of the same type. With Original
Medicare, Part A and Part B each have a deductible. Some plans may not have a
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