Question 1

Is Medicare free after 65?

Accepted Answer

Medicare isn't completely free after 65. While Medicare Part A is often premium-free for those who have worked and paid Medicare taxes, Part B has a monthly premium. Many Anchorage residents also choose Medicare Advantage plans or Medigap policies, which come with their own monthly costs. It's essential to factor in these potential premiums when planning your healthcare budget.

Question 2

What is Medicare and what does it do?

Accepted Answer

Medicare is the federal health insurance program for individuals aged 65 and older, and for certain younger people with disabilities. It provides coverage for hospital stays (Part A), medical services and doctor visits (Part B), and prescription drugs (Part D). Many Alaskans also explore Medicare Advantage plans, which combine Part A and Part B benefits, often with added coverage for things like dental and vision.

Question 3

What are the 6 things Medicare doesn't cover?

Accepted Answer

Medicare generally doesn't cover services like long-term custodial care, most dental care, routine eye exams for glasses, hearing aids, cosmetic surgery, and routine foot care. While Original Medicare covers medically necessary treatments, these exclusions are important to note. Residents in Anchorage often consider supplemental plans or Medicare Advantage to fill these coverage gaps.

Question 4

What are the three requirements for Medicare?

Accepted Answer

To be eligible for Medicare, you typically need to be a U.S. citizen or have been a legal resident for at least five years. The most common requirement is reaching age 65. You can also qualify if you have a qualifying disability, such as End-Stage Renal Disease (ESRD) or have received Social Security disability benefits for at least 24 months. Meeting these basic criteria is the first step to enrollment.

Question 5

How much will Medicare cost me each month?

Accepted Answer

Your monthly Medicare costs can vary. Part B has a standard monthly premium, which can increase based on your income. If you select a Medicare Advantage plan or a Part D prescription drug plan, you'll have separate premiums for those. The total monthly cost depends on the specific plans you choose and your individual financial situation. Getting a personalized quote is the best way to understand your potential expenses.

Question 6

Does everyone pay $170 for Medicare?

Accepted Answer

No, the cost isn't the same for everyone. If you enroll in a Medicare Advantage plan or a Part D prescription drug plan, these will have their own premiums that vary by insurer and plan. Your personal costs are determined by your income and the specific coverage choices you make.

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