What is Medicare?

Written By William Pierce

Medicare is a federal health program for people that are:

  • 65 or Older

  • Younger with certain disabilities

  • People with End Stage Renal Disease

Medicare is made up of two parts, Part A and Part B. Most people qualify for Part A without any premium if they have, or their spouse, have worked enough qualifying quarters. Everybody pays a premium for Medicare Part B, the 2024 standard premium amount is $174.70, though some beneficiaries may pay more based on Income Related Monthly Adjustment Amount, or IRMAA. IRMAA is an extra charge on your monthly premium based upon tax information from 2 years ago.

William Pierce
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