What People Don't Realize About Medicare

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What People Don't Realize About Medicare

By Daniel Petkevich

Mar 27, 2023

Avoid these pitfalls, and save money on your healthcare spending

Our team of experts has seen and done it all when solving the puzzles of Medicare. Here's what they say are the most common issues new to Medicare beneficiaries experience:

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Talk to one of our Licensed Medicare Agents today to find the right plans for you.

1. Misunderstanding the Part D Deductible

The deductible is how much you need to pay before insurance kicks in. Check out this excerpt from our blog post on

Estimating Prescription Drug Costs:

"Many PDP plans are marketed as having a single deductible, but if you read the fine print, you'll see that some plans cover tier 1 and tier 2 drugs before the deductible is met."

Your deductible may vary with your choice of Part D plan. Deductibles cannot be higher than $590 per calendar year in 2025.

2. Missing out on Over-the-Counter Benefits

Some of our clients do not realize their Medicare Advantage plan might give them credit (sometimes ranging between $20-$300) to use for over-the-counter purchases of everything from daily supplements to wearable fitness trackers.

Check out our online OTC Catalog for some of the top insurance carriers:

Check Your OTC Benefits

3. Not adding the Part B premium to the Medigap/Medicare Advantage premium

You've probably seen "$0 premium" marketing for Medicare Advantage plans. But paying $0 per month is extremely rare. At the very least, you should expect to pay the standard Part B Monthly Premium of $185 in 2025. The standard premium is added to your Medicare plan monthly premium amount.

4. Higher-income beneficiaries paying more through IRMAA

Check out this chart to see how your income might affect your monthly Part B and Part D premiums:

If you're interested in doing a deep dive into IRMAA and what it means for you and your family,

check out this article

Medicare can be confusing, but we're working to simplify it. Our licensed advisors are here to take your call. Click the button below, or dial (888) 454-2383.

Call Us: (888) 454-2383

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Virgil Insurance Agency, LLC (DBA Fair Square Medicare) and www.fairsquaremedicare.com are privately owned and operated by Help Button Inc. Medicare supplement insurance plans are not connected with or endorsed by the U.S. government or the federal Medicare program. This is a solicitation of insurance. A licensed agent/producer may contact you. Medicare Supplement insurance is available to those age 65 and older enrolled in Medicare Parts A and B and, in some states, to those under age 65 eligible for Medicare due to disability or End-Stage Renal disease. Virgil Insurance Agency is a licensed and certified representative of Medicare Advantage HMO, HMO SNP, PPO, PPO SNP and PFFS organizations and stand-alone PDP prescription drug plans. Each of the organizations we represent has a Medicare contract. Enrollment in any plan depends on contract renewal. The plans we represent do not discriminate on the basis of race, color, national origin, age, disability, or sex. Plan availability varies by region and state. For a complete list of available plans please contact 1-800-MEDICARE (TTY users should call 1-877-486-2048), 24 hours a day/7 days a week or consult www.medicare.gov. © 2025 Help Button Inc

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What People Don't Realize About Medicare

Avoid these pitfalls, and save money on your healthcare spending

Speak with a Medicare Advocate

1. Misunderstanding the Part D Deductible

2. Missing out on Over-the-Counter Benefits

3. Not adding the Part B premium to the Medigap/Medicare Advantage premium

4. Higher-income beneficiaries paying more through IRMAA

Speak with a Medicare Advocate

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About

Medicare 101

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