What services does MyMedicareMike.com offer?

We help individuals understand, compare, and enroll in Medicare plans. Our team provides personalized guidance on Medicare Advantage, Medicare Supplement (Medigap), and Prescription Drug Plans so you can make informed decisions with confidence.

Do you charge for Medicare consultations?

No, our services are completely free to you. As licensed and independent Medicare advisors, we’re compensated by the insurance carriers, not our clients.

What’s the difference between Medicare Advantage and Medicare Supplement Plans?

Medicare Advantage (Part C) replaces your Original Medicare and often includes extras like dental or vision. Medicare Supplement (Medigap) works with Original Medicare to help cover out-of-pocket costs such as copays and deductibles.

Can you help me review my current Medicare plan?

Absolutely. We provide free annual plan reviews to ensure your coverage still fits your healthcare needs and budget, since plans and costs can change each year.

When can I enroll or make changes to my Medicare plan?

The Annual Enrollment Period runs from October 15 to December 7 each year. During this time you can switch, drop, or enroll in new Medicare plans. Special Enrollment Periods may apply after certain life events.

Do you represent specific insurance companies?

No. We’re an independent agency and work with multiple top-rated carriers to find the plan that best fits your needs.

Can you assist if I’m turning 65 soon and new to Medicare?

Yes. We specialize in helping first-time enrollees understand their options, avoid penalties, and get started with the right coverage before their 65th birthday.

Do you offer in-person or virtual appointments?

We offer both. You can schedule a face-to-face meeting at our New York office or connect virtually from anywhere for the same personalized guidance.

What if I’m on Medicaid or have other health coverage?

We can help you coordinate your Medicare benefits with existing coverage—including Medicaid or employer plans—so you maintain important benefits and avoid gaps.

How can I get started with MyMedicareMike.com?

Call us or fill out the contact form on our website to schedule a free consultation. We’ll walk you through your options and help you choose coverage that gives you peace of mind.

“How Much Does My Medicare Cost Each Month?”

What Are People Asking?

● “Is Medicare free when I turn 65?”
● “Why do I have to pay for Part B?”
● “Why did my Medicare premium go up?”
● “What is IRMAA?”
● “Why is Medicare looking at my income from two years ago?”
● “Do Medicare Advantage plans really have $0 premiums?”
● “Does Medicare charge more if I make more money?”
● “Can I reduce my Medicare premium if my income dropped?”

Medicare Part A: Hospital Coverage (Often Premium-Free)

For many people, Medicare Part A does not have a
monthly premium.
If you worked and paid Medicare taxes for at least 40 quarters (about 10 years), you generally qualify for premium-free Part A.
Part A covers services such as:
● Inpatient hospital stays
● Skilled nursing facility care following a hospital stay
● Hospice care
● Limited home health services
Even though the premium may be free for many individuals, Part A still includes deductibles and cost sharing depending on the type and length of care
received.

Medicare Part B: Monthly Premium for Medical Coverage

Medicare Part B covers outpatient medical services
including:
● Doctor visits
● Specialist care
● Diagnostic tests and imaging
● Preventive services
● Durable medical equipment
Unlike Part A, Part B has a monthly premium for everyone enrolled.
For 2026, the standard Medicare Part B premium is $202.90 per month for most beneficiaries.
However, some individuals pay more depending on their income.

What Is IRMAA?

IRMAA stands for Income-Related Monthly Adjustment Amount.
It is an additional amount added to your:
● Medicare Part B premium
● Medicare Part D prescription drug premium
IRMAA applies when an individual’s income exceeds certain thresholds set by Medicare.
For 2026, IRMAA generally begins when income exceeds approximately:
● $109,000 for an individual
● $218,000 for married couples filing jointly
When income exceeds these levels, Medicare increases the monthly premium according to several income tiers.

Why Medicare Looks at Income from Two Years Ago

One of the most confusing aspects of Medicare premiums
is that they are not based on your current income.
Instead, the Social Security Administration determines your premium using your tax return from two years prior.
For example:
● 2026 Medicare premiums are based on your 2024 tax return
This can create surprises for individuals who recently retired or experienced a drop in income.
Even though your income may be lower today, Medicare may still be using income from years when you were working.

Medicare Advantage and $0 Premium Plans

Many Medicare Advantage plans advertise $0 monthly premiums, which can be appealing.
This means the plan itself does not charge an additional monthly premium beyond what you already pay for Medicare Part B.
However, it’s important to remember:
● You must still pay your Part B premium
● Copays and cost-sharing typically apply when services are used
● Benefits and networks vary by plan
Many Advantage plans also include prescription drug coverage (Part D) as part of the plan.

Medicare Part D Prescription Drug Premiums

If you choose a stand-alone Medicare Part D prescription drug plan, there is usually a monthly
premium associated with it.
Premiums vary depending on the plan and the medications covered.
In some Medicare Advantage plans, Part D coverage is included with no additional premium, though the Part B premium still applies.

Part D IRMAA

Just like Part B, Medicare can apply an income-related adjustment to Part D premiums.
If your income exceeds the IRMAA thresholds, Medicare adds a surcharge to your drug coverage premium.
This amount is paid directly to Medicare, not the insurance company providing the drug plan.

What If Your Income Has Dropped?

If your income has decreased due to a major life event, you may be able to request a reconsideration of your IRMAA determination.
Common qualifying life-changing events include:
● Retirement
● Divorce
● Death of a spouse
● Loss of income-producing property
● Reduction in work hours
In these situations, you can file a Life-Changing Event form with the Social Security Administration to request that your Medicare premium be recalculated based on your current income.
If approved, your Part B and Part D premiums may be reduced.

Understanding the Big Picture

Medicare monthly costs can vary depending on income, coverage choices, and the type of plan someone selects.
For many beneficiaries, the basic monthly structure includes:
● Part A – Often premium-free
● Part B – Standard monthly premium (income adjusted for some individuals)
● Part D – Drug coverage premium depending on the plan
● Optional coverage – Medicare Advantage or Medicare Supplement plans
Understanding how these pieces work together helps people plan more confidently for their healthcare costs in retirement.

Final Thoughts

Medicare is designed to provide broad access to healthcare, but like most insurance systems, it involves shared costs between the program and the beneficiary.
The key to navigating Medicare successfully is understanding how each part works—especially the monthly premiums and income adjustments that may apply.
With the right information and guidance, Medicare costs become far easier to understand and manage.

Frequently Asked Questions

Is Medicare completely free when I turn 65?

No. While many people qualify for premium-free Part A, most beneficiaries still pay a monthly Part B premium.

Why did my Medicare premium increase this year?

A premium increase is often due to IRMAA, which adjusts Medicare premiums based on income reported on tax returns from two years earlier.

Can Medicare reduce my premium if I retire?

Possibly. If your income dropped because of retirement or another qualifying event, you may be able to file a Life-Changing Event form with Social Security to request a lower premium.

Do $0 Medicare Advantage plans mean I pay nothing?

No. You must still pay your Medicare Part B premium, and you may have copays or cost sharing when you receive care.

Choosing the Right Medicare Coverage

Selecting the best Medicare coverage depends on factors like your healthcare needs, budget, and preferred providers. You can choose between:

Original Medicare (Parts A & B): Allows you to see any doctor or
hospital that accepts Medicare but does not include prescription drug
coverage (Part D) or additional benefits.
Medicare Advantage (Part C): Offers bundled coverage with
potential extra benefits but may require using a network of providers.
Medigap (Medicare Supplement Insurance): Helps cover
out-of-pocket costs not covered by Original Medicare, such as
copayments and deductibles.

Key Medicare Enrollment Periods

It is crucial to enroll in Medicare at the right time to avoid penalties and ensure continuous coverage:

Initial Enrollment Period (IEP): A seven-month window starting
three months before your 65th birthday month.
General Enrollment Period (GEP): From January 1 to March 31
each year for those who missed their IEP.
Annual Election Period (AEP): From October 15 to December 7,
allowing you to switch or enroll in Medicare Advantage and Part D
plans.
Open Enrollment Period(OEP): From January 1 to March 31 for
those who missed AEP and want to make certain changes.
Special Enrollment Period(SEP): Can be used anytime during the
calendar year for those that meet certain criteria such as moving to a
new service area.

Finding Help with Medicare

Understanding Medicare can be complex, but you don’t have to do it alone. Licensed Insurance Brokers, Medicare.gov, and state health assistance programs can provide guidance tailored to your specific needs.

By taking the time to explore your Medicare options, you can make informed decisions that ensure you receive the healthcare coverage that best suits your lifestyle and budget.

Do I have to sign up for Medicare?

It depends upon your current coverage. If you are employed and your employer has over 20 employees then you can delay signing up for Medicare and avoid penalties.

Does Medicare cover Prescription Medications?

No, You will have to enroll in a stand alone Part D plan or a Medicare Advantage Plan(Part C) to get coverage.

I want to be able to go to any doctor/hospital, are there networks with Medicare?

There are no networks with Medicare and most doctors and hospitals accept it. However, Medicare does not cover 100% of services so a Medicare Supplement or Medicare Advantage plans is advisable.

Mike Miligi- Owner

For over 10 years, Mike has been assisting Seniors and other Medicare-eligible individuals in understanding the ins and outs of Medicare and Medicare Health Insurance options, including Medicare Advantage Plans(Part C), Medicare Supplement Plans(Medigap), Prescription Drug Plans(PartD), and Dental and Vision programs.

Mike is Licensed in seven States and Certified with 11 Insurance Carriers. He has helped thousands of individuals decide on the best course of action for their particular Health Insurance needs. Because Mike is an Independent Medicare Health Insurance Broker, he works for the client, not the Insurance Carriers, and is able to provide his clients with accurate and unbiased Health Insurance options.

Mike recertifies with CMS(The Centers for Medicare and Medicaid Services) annually, regularly completes Continuing Education Courses required by individual State Insurance Departments, and keeps abreast of industry trends and standards to offer his clients the most up-to-date information.