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9 Costs You Should Consider When Drafting Your Retirement Budget

February 26, 2020 · Retirement Life

Medicare premiums

Most Medicare-eligible people are not required to pay for Medicare Part A hospital insurance. On the other hand, for Medicare Part B medical insurance you have to pay a standard premium of $144.60 in 2020 while Medicare Part D prescription drug plans charge a separate premium that depends on your selected plan. In addition, if you select a Medigap plan, you might have to pay a third premium which will cover certain Medicare out-of-pocket costs.

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