As you approach age 65, navigating Medicare and all of its parts and plans may sound daunting, but it can be easier than you think. Original Medicare contains two parts: Part A and Part B. Medicare Part A covers hospital care, skilled nursing facility and hospice fees, and is usually premium-free. Medicare Part B covers medical and preventive services, as well as some medical equipment, for which there is a monthly premium (typically deducted from your Social Security payments).
Depending on which Medicare part or plan you choose, you may have a monthly premium. The costs of these premiums can add up. However, there are several ways to help save on your Medicare premiums. Keep reading to learn about strategies you can use to keep your costs down.