Democratic lawmakers want to expand Medicare. Here are the gaps in coverage and other costs to know

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To the surprise of many new Medicare beneficiaries, the program has some holes and is far from free.

Part D is prescription drug coverage. And although it is optional, it, too, comes with late-enrollment penalties if you miss signing up when you could have.that you could have been enrolled but chose not to . You would pay that penalty for as long as you have Part D coverage.

All their working lives, their coverage had an out-of-pocket maximum limit and Medicare doesn't have this.That surprises many people, Roberts said. These supplemental policies, which are sold by private insurers, either fully or partially cover some cost-sharing aspects of Parts A and B, including copays and coinsurance. They, too, limit what you'll pay out of pocket each year.As long as you have at least a 10-year work history of paying into the system, there is no premium for Part A.

The standard Part B monthly premium for 2021 is $148.50, although beneficiaries with higher incomes pay more . Also, there is a deductible of $203. Once you meet that, you typically pay 20% of covered services.Advantage Plans may or may not have a premium in addition to what you must pay for Part B. Generally speaking, the lower the premium, the higher the deductible and other cost-sharing.

 

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Where’s all this money coming from?

No Americans should ever have 2 go bankrupt because of medical bills?

This mind-numbing complexity is designed to let the health care industry rake in huge profits. US health care is an abomination. We need SinglePayer which cuts costs, covers all. BTW, if you get seriously ill from Covid your out of pocket could be $100K-$235K even if insured.

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