Does the same eligibility age apply to Medicare?
No, the answer to this question is much simpler. Under currently existing laws, all eligible individuals can enroll in the Medicare program and they are 65 years of age.
What are the out-of-pocket expenses for Medicare?
The program is broken up into four distinct parts that are designated by the first four letters of the alphabet.
Part A is the hospitalization portion, and Part B covers treatments that are provided by doctors and other health care professionals. Part C gives you the ability to use your benefit to purchase private insurance that bundles the respective parts, and Part D is the prescription drug component.
There is no monthly premium for Part A, but there is a deductible per benefit period, and there are co-payments for hospital stays that exceed 60 days in duration.
You have to pay a monthly premium for Part B, and you are responsible for 20 percent of covered expenses out of your own pocket. There is also a modest deductible for Part B.
The premiums, co-payments, and deductibles vary for Part C and Part D, because there are many different options available.