Two Facts You May Not Know About Medicare

When you are a subscriber to Medicare it is important that you know the things that you may need but it is also important to know what is available to you.  Knowing some of the more obscure facts will help you get through this and doing so will only improve your relationship to Medicare overall.  With this being said, here are two things you might not have known about Medicare:

1. You could get a costly penalty if you happen to refuse to enroll in Medicare Part B when you are initially eligible to do so.  Seniors are automatically enrolled in Part B but those who change their minds may face higher premiums.  In fact the amount you may have to pay could be the equivalent of 10 percent higher for each year that you were not enrolled when you should have been.
2. When you pay that small amount of money through every paycheck to the government for Medicare you are doing so with no guarantees.  No binding contract exists between the government and its citizens for future Medicare benefits payroll.  As a matter of fact, Congress could wake up tomorrow and eliminate or drastically alter the Medicare benefits available to you with no exceptions.

Entry Filed under: Updates