
The Top Five Medicare Insurance Terms You Need to Know
by Natalie Stefan
Understanding Medicare can be a challenge, especially with all the unique terms and rules that come with it. To help simplify things, we’ve broken down the five most important Medicare-related terms that you need to know: 1. Premium Just like with private insurance, Medicare premiums are the monthly amounts you pay to maintain your coverage. While Medicare Part A (hospital insurance) doesn’t usually have a premium for those who qualify through their work history, Medicare Part B (medical insurance) and Medicare Part D (prescription drug coverage) both require monthly premiums. These premiums are essential for maintaining your coverage, but they don’t cover the full cost of your healthcare services. 2. Deductible The deductible is the amount you must pay out-of-pocket