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The trusted Medicare agents at I Know Medicare help people turning 65 and current Medicare beneficiaries understand their Medicare options with confidence. Our network of licensed Medicare agents provides clear, educational information about Original Medicare (Parts A & B), Medicare Advantage (Part C), Medicare Supplement (Medigap) plans, Medicare Part D prescription drug coverage, and Social Security benefits.
Personalized Social Security Analysis
Personalized Medicare Guidance: We offer one-on-one consultations to help you understand your options and make informed decisions.
Comprehensive Plan Comparisons: We analyze and compare different Medicare plans to find the best fit for you.
Ongoing Support: From initial enrollment to annual reviews, we’re with you every step of the way.
Expert Assistance: Our team is knowledgeable and up-to-date with the latest Medicare policies and changes.
Call Us today to make your FREE consultation appointment.
You usually don’t pay a monthly premium for Part A coverage if you or your spouse paid Medicare taxes while working for a certain amount of time.
Copayments, coinsurance, and deductibles may apply for each of the services covered by Part A.
In 2024, the standard monthly premium for Medicare Part B is $174.70, and the annual deductible is $240.
The amounts you pay for each service covered by Part A or Part B will depend on whether you have just Original Medicare, a Medicare Advantage Plan or a Medicare Supplement Plan.
Part A (Hospital Insurance) Helps cover:
• Inpatient care in hospitals
• Skilled nursing facility care
• Hospice care
• Home health care
Part B (Medical Insurance) Helps cover:
• Services from doctors and other health care providers
• Outpatient care
• Home health care
• Durable medical equipment (like wheelchairs, walkers, hospital beds, and other equipment)
• Many preventive services (like screenings, shots or vaccines, and yearly “Wellness” visits)
Part D (Drug coverage) Helps cover the cost of prescription drugs (including many recommended shots or vaccines). Plans that offer Medicare drug coverage are run by private insurance companies that follow rules set by Medicare.
When you first enroll in Medicare and during certain times of the year, you
can choose how you get your Medicare coverage. There are 2 main ways to
get Medicare:
Original Medicare (Option 1)
• Original Medicare includes Medicare
Part A (Hospital Insurance) and
Part B (Medical Insurance).
• If you want drug coverage, you can join a separate Medicare drug plan
(Part D).
• To help pay your out-of-pocket costs in Original Medicare (like your 20%
coinsurance), you can also shop for and buy supplemental coverage.
• Can use any doctor or hospital that takes Medicare, anywhere in the U.S.
Medicare Advantage (Option 2)
(also known as Part C)
• Medicare Advantage is an “all in one” alternative to Original Medicare. These “bundled” plans include Part A, Part B, and usually Part D.
• Plans may have lower out-of-pocket costs than Original Medicare.
• In many cases, you’ll need to use doctors who are in the plan’s network.
• Most plans offer extra benefits that Original Medicare doesn’t cover—like
vision, hearing, dental, and more.
Marketplace insurance premiums are expected to rise significantly in 2026 — with an average increase of about 26%, the largest jump since 2018. The main cause is the scheduled expiration of the expanded ACA premium tax credits at the end of 2025. These credits have helped lower costs for millions of people, and without them, many households could see their premiums double next year.
Congress is still debating whether to renew the credits, so things may change, but for now, shoppers should prepare for higher sticker prices, update their Marketplace information early, and compare plans carefully. If the credits are restored later, your costs will adjust accordingly — even if you’ve already enrolled. Read more about this here.
Medicare premiums aren’t one-size-fits-all. How much you pay depends on the part of Medicare you’re enrolled in, your work history, and your income. Most people get Part A premium-free if they’ve paid Medicare taxes long enough, while Part B has a standard monthly premium that can increase if your income is above certain limits. That income-based increase is called IRMAA and is based on your tax return from two years ago. Part D and supplemental plans have their own premiums set by private insurers.
Understanding these basics can help you better predict your healthcare costs and avoid surprises.
Read more about this here.
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