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The public healthcare program Medicare is available to those US residents 65 and over, but there are some aspects of it that some people may be unaware of.

1 Medicare Comes With Premiums

The majority of those enrolled in Medicare have to pay monthly premiums, which can differ depending on income and their chosen plan. Employers and employees pay a tax of 1.45% on the income of employees, which helps fund Medicare Part A, which is free for most people, but there is a premium in medical insurance for Part B.

2 Not Everything Is Covered by Medicare

Medicare is not able to cover everything, and some of those gaps can be a problem for an aging populace such as dental and vision care, hearing aids and podiatry. Many people prefer to join a Medicare Advantage plan rather than traditional Medicare to increase their coverage for other health needs.

3 There Are Many Different Medicare Plan Options

There are many Plan options with Medicare, and Medicare Advantage options still need to cover everything offered by traditional Medicare. Prices and plans vary, and enrolees can also choose Medicare Plan D, which adds coverage for prescription drugs.

4 Secondary Insurance Is Growing in Popularity

Many enrolees pay for extra private insurance with a Medigap plan, which cuts costs if they develop a serious medical problem.

5 Costs Are Beginning to Level Off

Although total program costs rise with more enrolees, for beneficiaries the average cost has actually levelled off, with – when adjusted for inflation – no increases since 2009.