Why Many Retirees Are Due for an $1,800-a-Year Medicare Price Shock

Many folks approaching or entering retirement are in for an expensive surprise: Medicare is not free — and some Medicare costs may be deducted from their Social Security benefits. Specifically, 53 percent of folks age 50 and older are unaware that Medicare Part B entails costs to the retiree, Money reports, citing the Nationwide Retirement Institute’s latest annual health care survey. While Medicare Part B premiums are higher for folks with higher incomes, they will still cost the typical person $1,608 in 2018.

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