When you are planning ahead for retirement, you should be aware of what you can expect from the Medicare program. Sometimes people overestimate the capabilities of the program, and this can lead to difficulties late in your life. To qualify for Medicare, you must accumulate at least 40 retirement credits. You earn retirement credits while you are earning income and paying taxes. Part of what you pay goes toward future Medicare coverage. During 2014, you earn one retirement credit for every $1200 that you earn. The maximum you can accumulate in a single year is four retirement credits. At the present time, the age of Medicare eligibility is 65. There are four parts to Medicare. There is Medicare Part A, and this is the portion of the program that covers hospitalization. Clearly, Medicare Part A is going to be of great assistance if you spend time in a hospital, and there are no monthly premiums to pay. However, there is a deductible. In 2014, the deductible is $1216 for each benefit pe
Posted on: Wed, 24 Sep 2014 18:51:21 +0000
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